crypto.pm | an upcoming cryptocurrency exchange

[Lemon]

Whilst we have yet to even begin drumming up interest in our upcoming platform (or even make the launch page public), I've decided to post some information about it here in order to celebrate the fact that we've finally settled on a name (of which a domain was actually available). We highly doubt that we will be launching to the general public before at least six months from today, due to the legal groundwork involved - and also due to the fact that we also have no intention of releasing a faulty product.

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[ About ]

crypto.pm is an advanced cryptocurrency exchange featuring state of the art security and performance enhancements. Our goal is to provide a trading platform that offers 100% highly performant uptime, whilst providing the highest level of resilience and security available.

We treat every single bit of information that we store as if it was our own credit card number. With hashing and encryption taken to a level that some might find overkill, we ensure that the security of your data is absolute. Beyond this, to ensure performance - we have built a highly redundant self scaling architecture that grows as traffic levels rise.

Sadly, we won't be ready to launch to the general public for quite a while. After all, we want to do this properly and ensure that we release a resilient platform that will be used for many years to come (and let's not forget all the legal paperwork that we need to deal with). In the interim, what we mostly need are ideas. Whilst donations are always appreciated, we are far more interested in what we can get out of your brain. So, if you have any suggestions for us - then please, let us know.

Now, for the interesting part. Our fee structure. To be blunt, we are not looking to make a profit with this exchange, as long as costs are covered and we can ensure that there is a healthy safety buffer - then we're happy. As a result, we have a flat fee of 0.18% across the board. There are no volume discounts, and we're pretty sure that despite that, we will have the lowest trading fees on the market.

-----

[ FAQ ]

Currencies
At launch, we will be supporting the following currencies.

AUD, CAD, EUR, GBP, USD

Fees
0.18% (flat rate)

* additional fees charged by payment processors may be incurred.

Security
We take security very seriously. Each and every bit of information that we store (and we try to make it as minimal as possible) is treated as if it were the credit card number of a staff member. Numerous forms of encryption and hashing are used in order to ensure data security and core system access is multi-factored and highly limited.

Beyond this, we highly recommend that you withdraw any large amounts of BTC held in your account following a trade to cold storage unless you intend to use them in the near future. Support for automated transfers if no account activity has happened within <X> days is provided for people wishing to take advantage of this feature.

Verification
People trading over a certain level of currency will be required to verify their identity. This is a regulatory requirement and if we chose to ignore it, we could not offer this service and would possibly enjoy some prison time for facilitating money laundering.

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[ Technology ]

Client Side
html
javascript
websockets

Server Side
aggressive caching
clustered architecture
geodns balancing
mongodb
node.js
postgresql
redis
websockets

Development Side
caffeine
snacks

-----

[ Contact ]

Have any questions? Interested in potentially joining this venture? Get in touch.

Email
hello@citrus.pw

Telephone
Available on request (to prevent mass spamming).

[Lemon]

If you're interested in testing this platform (test mode uses no actual currency), please drop an email to hello@citrus.pw and we'll get you an account provisioned!

[Lemon]

People watching this thread might be interested to know that we are currently in talks with the FCA (successor to the FSA) with the goal of becoming authorized and are also currently working with a legal firm in order to ensure full KYC compliance in order to achieve maximum stability of the business.

[Herbert]

Sounds interesting! Do you consider SEPA funding four us european folks?

[Lemon]

Sounds interesting! Do you consider SEPA funding four us european folks?

This is definitely something we're planning on. The legal groundwork to accept currency in multiple formats with receiving banks in numerous countries (for speed and cost reasons) is an absolute nightmare, but is something we're making headway on!

[leckey]

People watching this thread might be interested to know that we are currently in talks with the FCA (successor to the FSA) with the goal of becoming authorized and are also currently working with a legal firm in order to ensure full KYC compliance in order to achieve maximum stability of the business.

KYC is all well and good but what about AML?

[Lemon]

People watching this thread might be interested to know that we are currently in talks with the FCA (successor to the FSA) with the goal of becoming authorized and are also currently working with a legal firm in order to ensure full KYC compliance in order to achieve maximum stability of the business.

KYC is all well and good but what about AML?

When I refer to KYC, I'm referring to the inclusion of anti-money laundering checks.

[Sword Smith]

Where are you guys operating from?

[Lemon]

Where are you guys operating from?

We are physically based in the United Kingdom, which is the reason for our working with the Financial Conduct Authority (they are the main financial regulatory body in the UK after the FSA split on April 1st). This project is the result of a number of talks with key people in the UK banking and trading industry in regards to the hoops we would have to jump through. We've decided that the hoops won't be a problem.

[Lemon]

We've received quite a few emails in regards to crypto.pm - and we'll be offering invites to roughly another 40 people if they're interested in testing the trading platform. Testing is performed with simulated currencies during the early days.

[vite]

Hey Max Keiser do open a receiving bank in Panama it would be great.

Vite

[Lemon]

Hey Max Keiser do open a receiving bank in Panama it would be great.

Vite

Max... Keiser?

[Luckybit]

Whilst we have yet to even begin drumming up interest in our upcoming platform (or even make the launch page public), I've decided to post some information about it here in order to celebrate the fact that we've finally settled on a name (of which a domain was actually available). We highly doubt that we will be launching to the general public before at least six months from today, due to the legal groundwork involved - and also due to the fact that we also have no intention of releasing a faulty product.

-----

[ About ]

crypto.pm is an advanced cryptocurrency exchange featuring state of the art security and performance enhancements. Our goal is to provide a trading platform that offers 100% highly performant uptime, whilst providing the highest level of resilience and security available.

We treat every single bit of information that we store as if it was our own credit card number. With hashing and encryption taken to a level that some might find overkill, we ensure that the security of your data is absolute. Beyond this, to ensure performance - we have built a highly redundant self scaling architecture that grows as traffic levels rise.

Sadly, we won't be ready to launch to the general public for quite a while. After all, we want to do this properly and ensure that we release a resilient platform that will be used for many years to come (and let's not forget all the legal paperwork that we need to deal with). In the interim, what we mostly need are ideas. Whilst donations are always appreciated, we are far more interested in what we can get out of your brain. So, if you have any suggestions for us - then please, let us know.

Now, for the interesting part. Our fee structure. To be blunt, we are not looking to make a profit with this exchange, as long as costs are covered and we can ensure that there is a healthy safety buffer - then we're happy. As a result, we have a flat fee of 0.18% across the board. There are no volume discounts, and we're pretty sure that despite that, we will have the lowest trading fees on the market.

-----

[ FAQ ]

Currencies
At launch, we will be supporting the following currencies.

AUD, CAD, EUR, GBP, USD

Fees
0.18% (flat rate)

* additional fees charged by payment processors may be incurred.

Security
We take security very seriously. Each and every bit of information that we store (and we try to make it as minimal as possible) is treated as if it were the credit card number of a staff member. Numerous forms of encryption and hashing are used in order to ensure data security and core system access is multi-factored and highly limited.

Beyond this, we highly recommend that you withdraw any large amounts of BTC held in your account following a trade to cold storage unless you intend to use them in the near future. Support for automated transfers if no account activity has happened within <X> days is provided for people wishing to take advantage of this feature.

Verification
People trading over a certain level of currency will be required to verify their identity. This is a regulatory requirement and if we chose to ignore it, we could not offer this service and would possibly enjoy some prison time for facilitating money laundering.

-----

[ Technology ]

Client Side
html
javascript
websockets

Server Side
aggressive caching
clustered architecture
geodns balancing
mongodb
node.js
postgresql
redis
websockets

Development Side
caffeine
snacks

-----

[ Contact ]

Have any questions? Interested in potentially joining this venture? Get in touch.

Email
hello@citrus.pw

Telephone
Available on request (to prevent mass spamming).

-----

[ Donations ]

Always appreciated, I am bootstrapping the initial development and legal framework without taking a penny. I recently did the same with an upcoming home media appliance/platform and before that, a large public metadata search engine. I have a large amount of experience in highly available and secure systems, and extensive experience in developing for the financial sector.

15AUQm2tu6gLvtX4afdG9GBFaebR6CPTqK

Can you lower your fees just a bit? That is a bit high for a new site.

[Luckybit]

Whilst we have yet to even begin drumming up interest in our upcoming platform (or even make the launch page public), I've decided to post some information about it here in order to celebrate the fact that we've finally settled on a name (of which a domain was actually available). We highly doubt that we will be launching to the general public before at least six months from today, due to the legal groundwork involved - and also due to the fact that we also have no intention of releasing a faulty product.

-----

[ About ]

crypto.pm is an advanced cryptocurrency exchange featuring state of the art security and performance enhancements. Our goal is to provide a trading platform that offers 100% highly performant uptime, whilst providing the highest level of resilience and security available.

We treat every single bit of information that we store as if it was our own credit card number. With hashing and encryption taken to a level that some might find overkill, we ensure that the security of your data is absolute. Beyond this, to ensure performance - we have built a highly redundant self scaling architecture that grows as traffic levels rise.

Sadly, we won't be ready to launch to the general public for quite a while. After all, we want to do this properly and ensure that we release a resilient platform that will be used for many years to come (and let's not forget all the legal paperwork that we need to deal with). In the interim, what we mostly need are ideas. Whilst donations are always appreciated, we are far more interested in what we can get out of your brain. So, if you have any suggestions for us - then please, let us know.

Now, for the interesting part. Our fee structure. To be blunt, we are not looking to make a profit with this exchange, as long as costs are covered and we can ensure that there is a healthy safety buffer - then we're happy. As a result, we have a flat fee of 0.18% across the board. There are no volume discounts, and we're pretty sure that despite that, we will have the lowest trading fees on the market.

-----

[ FAQ ]

Currencies
At launch, we will be supporting the following currencies.

AUD, CAD, EUR, GBP, USD

Fees
0.18% (flat rate)

* additional fees charged by payment processors may be incurred.

Security
We take security very seriously. Each and every bit of information that we store (and we try to make it as minimal as possible) is treated as if it were the credit card number of a staff member. Numerous forms of encryption and hashing are used in order to ensure data security and core system access is multi-factored and highly limited.

Beyond this, we highly recommend that you withdraw any large amounts of BTC held in your account following a trade to cold storage unless you intend to use them in the near future. Support for automated transfers if no account activity has happened within <X> days is provided for people wishing to take advantage of this feature.

Verification
People trading over a certain level of currency will be required to verify their identity. This is a regulatory requirement and if we chose to ignore it, we could not offer this service and would possibly enjoy some prison time for facilitating money laundering.

-----

[ Technology ]

Client Side
html
javascript
websockets

Server Side
aggressive caching
clustered architecture
geodns balancing
mongodb
node.js
postgresql
redis
websockets

Development Side
caffeine
snacks

-----

[ Contact ]

Have any questions? Interested in potentially joining this venture? Get in touch.

Email
hello@citrus.pw

Telephone
Available on request (to prevent mass spamming).

-----

[ Donations ]

Always appreciated, I am bootstrapping the initial development and legal framework without taking a penny. I recently did the same with an upcoming home media appliance/platform and before that, a large public metadata search engine. I have a large amount of experience in highly available and secure systems, and extensive experience in developing for the financial sector.

15AUQm2tu6gLvtX4afdG9GBFaebR6CPTqK

My advice is you should either do a Kickstarter or offer shares on cryptostocks.

Some technical questions, what kind of encryption are you using exactly? You boast of encryption but it's short on technical details. How many trades per second can your trading engine handle? We need some specs.

[Lemon]

tldr

My advice is you should either do a Kickstarter or offer shares on cryptostocks.

Some technical questions, what kind of encryption are you using exactly? You boast of encryption but it's short on technical details. How many trades per second can your trading engine handle? We need some specs.

Whilst we do not require any form of external funding to bring this project to fruition - we are considering a cryptostock style implementation, we'll have some more information in the near future.

We're finalizing our encryption standards, and will be releasing details on this this coming Friday. In terms of trades per second, it can currently handle a little over 60,000 per second - and we're still in the midst of doing heavy optimization work on the engine.

Sorry if I have appeared vague in terms of specifications, but as we're finishing off finalizing them - I didn't want to provide false information.

[Luckybit]

tldr

My advice is you should either do a Kickstarter or offer shares on cryptostocks.

Some technical questions, what kind of encryption are you using exactly? You boast of encryption but it's short on technical details. How many trades per second can your trading engine handle? We need some specs.

Whilst we do not require any form of external funding to bring this project to fruition - we are considering a cryptostock style implementation, we'll have some more information in the near future.

We're finalizing our encryption standards, and will be releasing details on this this coming Friday. In terms of trades per second, it can currently handle a little over 60,000 per second - and we're still in the midst of doing heavy optimization work on the engine.

Sorry if I have appeared vague in terms of specifications, but as we're finishing off finalizing them - I didn't want to provide false information.

Now you have my attention. 60,000 trades per second is much better than the current trading platforms.

[Lemon]

tldr

My advice is you should either do a Kickstarter or offer shares on cryptostocks.

Some technical questions, what kind of encryption are you using exactly? You boast of encryption but it's short on technical details. How many trades per second can your trading engine handle? We need some specs.

Whilst we do not require any form of external funding to bring this project to fruition - we are considering a cryptostock style implementation, we'll have some more information in the near future.

We're finalizing our encryption standards, and will be releasing details on this this coming Friday. In terms of trades per second, it can currently handle a little over 60,000 per second - and we're still in the midst of doing heavy optimization work on the engine.

Sorry if I have appeared vague in terms of specifications, but as we're finishing off finalizing them - I didn't want to provide false information.

Now you have my attention. 60,000 trades per second is much better than the current trading platforms.

That many trades per second is based on a single worker node currently, and they should (theoretically) scale up as traffic increases - increasing the total number of trades per second that the engine can handle. The postgresql database is clustered to hell and back and can handle damn near whatever we throw at it.

If you're interested in what the testing dashboard looks like, here's a link to a screenshot.

http://crypto.pm/gfx/crypto-dashboard.png

[uMMcQxCWELNzkt]

I have decided I would like to help with the project, as you are UK based and seem serious about this venture then I feel I could add to the venture. I can do branding, web design, 3D, Illustration and pretty much any design related content. If you can do the technical stuff I am confident I could create a professional looking exchange, my coding at the moment is limited to HTML & CSS. I have been working on this project lately (http://www.marketutopia.co.uk/).

How come the .pm domain name by the way? Is it not better to use a .com and register the .co.uk too?

[Fireball]

In terms of trades per second, it can currently handle a little over 60,000 per second - and we're still in the midst of doing heavy optimization work on the engine.

May I ask about the testing environment? Was that from a single client over network, or a single local client? Also, single client actually can't make a trade, as two clients are needed. What is the connection protocol, API?

I am interested in the performance testing, and am going to conduct a performance testing of ICBIT exchange, however I would like to do it as close to real situation as possible.

[Lemon]

In terms of trades per second, it can currently handle a little over 60,000 per second - and we're still in the midst of doing heavy optimization work on the engine.

May I ask about the testing environment? Was that from a single client over network, or a single local client? Also, single client actually can't make a trade, as two clients are needed. What is the connection protocol, API?

I am interested in the performance testing, and am going to conduct a performance testing of ICBIT exchange, however I would like to do it as close to real situation as possible.

It's a distributed worker environment, but the test environment is working with one of everything on the exchange side. In terms of testing, clients across the network simulating a full browser experience using the websocket API (which is what the site uses).