WORLDEX.IO New Standard in Exchanges
Link to whitepaper:
https://zxcico.com/Cloud/ZXChange.pdfwebsite:
https://worldex.io/INTRODUCTION
At present, the cryptocurrency market is relatively small as a comparison to the world
amount of trade in traditional currencies, with the daily volume trading at FOREX market
assessed at 5.1 trillion USD. Even with the current development rate of 1,500 cryptocurrencies
and a market cap of $400 billion, the possibilities of rapid growth present massive opportunities
to serve within an exchange market over the next 2-3 years. Present exchanges that exist in the
marketplace have struggled to keep up with this explosive growth and extraordinary demand
from the hundreds of thousands of new market entrants. In December 2017, some of the
largest cryptocurrency exchanges, paused the onboarding for new users, presenting an
opportunity for the development of WORLDEX to further serve existing and new traders.
WHAT IS WorldEXWORLDEX is a platform created for the democratization and development of
crypto trading. In an effort to solve many of the problems that exist in current exchanges the
a team of visionaries and developers set out a goal to dissect the top open-source codebase
(order books, payment gateways, functional scripts, library codes) for functionalities and
security to advance and develop a proprietary modern, yet simple to use the platform. The
knowledge portal will provide a wide range of opportunities for sharing experience and ideas:
streaming of trades, social trading contribution, analytics of recent activities, spotlight on
successful investment strategies, and access to opinion leaders and experts in the world of
cryptocurrency as an unbiased source. The platform will ensure instantaneous mutual swap of
cryptocurrencies within a safe and efficient marketplace.
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MISSION
We ensure priority is given to users to increase the level of trust among community peers by
becoming a key actor in the creation of an ecosystem of a technically advanced backend
with effective tools and aggregation that is served on a simple to use interface frontend to
buy/sell cryptocurrencies.
MARKET ANALYSIS
There’s no doubt that cryptocurrencies have taken the world by storm, creating an
entirely new industry within the financial world. Since 2008 cryptocurrencies like Bitcoin and
Ethereum has been on the rise and it looks like there’s no stopping them. Companies have
been born out of the cryptocurrency boom, in order to handle the influx of people who are
eager to be part of the revolution.
Exchange platforms have been created to satisfy the need of the many, to own
whatever cryptocurrency they can with the hopes of someday owning a virtual crypto gold
mine. Platforms like these offer brilliant tools and gadgets for those that want to actively buy,
sell or trade cryptocurrencies for many other types of digital coins professionally. However, in
order to do this exchanges, need to provide evidence of who each individual is by providing a
sufficient level of identification. According to CoinMarketCap, there are over two hundred
cryptocurrency exchanges in existence with differences of core technology on some trading
platforms. There are currently 3 different types of exchanges, all with different functions to suit
different needs.
Trading Platform
Trading platforms are there to help connect buyers and sellers directly to trade based
on current market pricing. When they conduct transactions between one another, the platform
will take a fee from the transaction.
Direct Platform
Direct trading platforms were established in order to offer direct peer to peer trading,
and operate much like trading platforms. The only difference with these sites is that there’s no
fixed market price but each seller sets their own exchange rate for the transaction.
Brokers
Cryptocurrency Brokers are website-based exchanges set up to allow anyone the chance
to buy cryptocurrencies at a price that is set by the broker. They are often compared to the
typical forex brokers as they work in a very similar way.
LAYERING AMONGST COMPETITORS
Since cryptocurrencies have become increasingly popular to the point where home
owners are taking drastic measures, like refinancing their mortgages to acquire the ability to
collect enough capital to acquire the crypto of trade. Despite this, there are also too many of
these different platforms to select from, all offering similar services to try and capitalize on the
popularity. WORLDEX offers all of the above in the platform with the core technology built
around diligence and highly secured digital currency exchange system with all API’s endpoints
privately available and used with the web app.
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Security
Security should be one of the top concerns when it comes to cryptocurrency platforms. It is
of the utmost importance to find a platform that offers a high level of security, so things like
two-factor authentication, so every time a user login to an account, the user will be prompted
by the platform to enter a code that will expire in 30 seconds.
Verification Requirements
While requirement this is part of security but it is still an integral part of any reputable
platform. About 90% of trading platforms within the US and U.K. do require some kind of ID,
which is usually in the form of a passport or driving license. Some of the more secured
conscious platforms will require applicants to send in a picture holding a piece of paper with
the platforms name written on it, as well as the date. Even though going through a verification
process like this might seem like a giant pain, both customer and the platform are being
protected against all kinds of unsavory actions. WORLDEX will take it one step further by
implementing a facial and speech recognition built into the technology stack for AML/KYC.
Upfront About Fees
Most WORLDEX or at least the most reputable ones should have clear information
stating their fees for withdrawing and depositing money, as well as any fees regarding the
active trading of any cryptocurrencies. Some platforms don’t actively disclose any information
on their fees, or if they do they are very hard to come by and if this is the case, then it might be
best to stay away. If a platform isn’t open about something as simple as stating their fees, then
what else are they trying to conceal. WORLDEX's transparency with reduced commission fees
will be highly attractive to traders.
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Geographic Restrictions
WORLDEX will be open to many countries globally for trading. Some countries like China
and Japan have taken steps to limit the use of some trading platforms to prevent things like
fraud and excessive losses.
Payment Methods
Certain exchanges will only allow users to deposit money using certain methods like
PayPal, limiting the new signups. WORLDEX has more than one method intake, as this opens the
doors for more people to use the service, rather than disposing of them. Some methods of
depositing cash will incur a charge, like using your credit card, and some may take longer than
others so it all depends on what is best for you. The important thing to remember is not settling
for a sub-par exchange, even though it might take a bit of time to find the right one, it will pay
dividends in the end.
Hardware and Software Wallets
The first protocol when it comes to storing cryptocurrencies should be a hardware
wallet or offline wallet. Overall, hardware wallets offer more protection than software wallets
that downloads to a computer. But as we are dealing with security, it doesn’t matter how well
protected a computer is, or whether someone has the latest anti-virus software, the computer
is still vulnerable. That’s why, WORLDEX has gone implemented the most stringent protocols to
protect the proprietary digital wallet, available on Android.
Hardware wallets are very simplistic but are very robust in offering high levels of
security. They are physical devices that you can carry around, resembling USB drives in form
factors. Although hardware wallets carry out transactions online, the private keys are actually
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stored offline which significantly adds another level of security. Hardware wallets are
compatible with a number of different web interfaces and can support various currencies as
well. To use a hardware wallet, a user would simply connect the device to a computer that has
access to the Internet, enter a pin, send the currency and confirm it. The biggest downside to
owning hardware wallets is the fact that if it misplaces or damages it, then the risk losing
everything is apparently inheritable.
ICO STRUCTURE
1. Total supply: 100,000,000 WDX
2. Matching 1:1 (coming soon) ZZC/WDX (WDXhange will be doing airdrop/matching 1:1
meaning that all coins must be on WORLDEX in order to receive WDX matching. This
will create more buy of ZZC to load into the exchange.
ADVANTAGES
Business Insider has reported that crypto-exchanges are under pressure to keep up with
breakneck growth of the booming digital coin market. Exchanges have halted trading,
experienced outages, and crashed during a period of high volumes and demands. In an effort
solve the clunky interfaces that exist with cryptocurrency exchanges, WDXhange’s functional
levers are user-friendly by design. A dynamic PHP web framework of CodeIgniter is intended
for the development of Worldex Exchange web application demands, patterning the model-view-controller
(MVC) architecture making secured authentication with control access to
authorization logic easily configurable. The centralized nature of the exchange with the wallet
stored onto the server, while the coins will behave decentralized in nature. In principle, the
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tokens on the exchange do not exist on the exchange they are held offsite and are not relevant
to the operation of the exchange. The exchange itself has balances so just add a few
thousand “bitcoins” to each person's account and let them trade on the site. The only thing you
need actual bitcoins for is deposit/withdraw which is trivial.
PROJECT PLAN
Source Description
WORLDEX ’s revenue will come from the following sources:
1. Exchange Fee WORLDEX initially will charge a 0.15% fixed fee per trade.
2. Other variations will be subsequently introduced, including maker-taker, volume-based
tiering and zero fee promotions.
3. WORLDEX have no plan to charge above 0.15%.
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4. Withdrawal Fee WORLDEX may charge a small fee for withdrawals.
5. Listing Fee WDXhange will select innovative coins and other assets to be listed on the
exchange, there may be a fee associated with those listings.
6. Margin Fee If you trade on margin, there may be a fee or interest on the borrowed
amount.
Other Fees There may be other fees the platform may collect for various services such as
automated algorithmic order etc.
TOKEN DISTRIBUTION
The following percentage amount of WDX will be allocated out.
WDX Allocation
1. 50% 50,000,000 ICO Participants
2. 40% 40,000,000 Founding Team
3. 10% 10,000,000 Angel investors
Payment Methods
WORLDEX will implement with buy/sell in the following coins and trading pairs:
• BTC (Bitcoin)
• ETH (Ethereum) – ETH/BTC
• DASH – DASH/BTC
• ZZC (ZoZo Coin) – ZZC/BTC
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Adding new pairs are performed swiftly through the configuration file. The order book is
dynamic based on the currency pair and is a representation of the tokens, where they made up
of an attribute (Name/Symbol). The bitcoins don’t get sold/bought when people buy or sell
them on the site, so it only matters when the cryptocurrency is leaving or coming into the
exchange. There will be no integration with the bitcoin or other crypto networks on the site.
More coins will be added over time, as new coins are appearing in the market. We
generally will only add coins that have strong credibility, user base, and liquidity. If there is a
coin that wishes to be listed on WORLDEX , participating in our ICO will help. WORLDEX has no
plans to support any fiat currencies such as USD, RMB, JPY, or KRX. WORLDEX envisions a world
where multiple cryptocurrencies are in use, making our exchange more valuable with smart
protocols.
Processor Payment
WDXhange delivers global fraudless payment processing in a precarious cryptocurrency
environment to conduct business digitally with complete fraud protection. WORLDEX begins
with storing the customer and payment box details to the database. A secret key is then
generated for website usage where the user can then enter details of the coin name with the
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the secret key to be sent to the database using CURL. Once payment information is stored, the
user will receive an email of welcome and Payment will be activated for a specific time period.
The user will proceed to processor payment website to present the QR code for payment.
Here, the backend is responsible for creating an account, set up payment box for payment
method, grab the latest price of ZZC in accordance to USD, generate QR code linking to the wallet
address, generate the hash code for a transaction and stores the information of execution. Lastly,
the user confirms acceptance of payment, the workflow will redirect the user to website link of
origination.
DISTRIBUTION OF RAISED FUNDS
The figures may be altered for adjustments to better service the exchange, depending on the
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required needs of the company post-ICO.
Funds Usage
1. 35% of the funds will be used to build the WORLDEX platform and perform upgrades
to the system, which includes team recruiting, training, and the development
budget.
2. 50% will be used for WORLDEX branding and marketing, including continuous
promotion and education of WORLDEX and blockchain innovations in industry
mediums. A sufficient budget for various advertisement activities, to help WORLDEX
become popular among investors, and to attract active users to the platform.
3. 15% will be kept in reserve to cope with any emergency or unexpected situation that
might come up.
WDX Team Vesting Plan
Initial release: 20% (8MM)
1. After 1 year: 20% (8MM)
2. After 2 years: 20% (8MM)
3. After 3 years: 20% (8MM)
4. After 4 years: 20% (8MM)
BONUS PROGRAM
WDXhange offers special advantage for early entrants supporting the project. The timetable as
it applies to each round will be structured to pay out additional bonuses. Initial WDX offer $1 for
the first round starting 03/18/18.
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• ROUND 1: STARTING 03/18/18 ending 04/02/18 with 30% bonus
• ROUND 2: STARTING 04/03/18 ending 04/18/18 with 20% bonus
• ROUND 3: STARTING 04/19/18 ending 05/04/18 with 10% bonus
• ROUND 4: STARTING 05/05/18 ending 05/30/18 with 0% bonus
BOUNTY CAMPAIGN
Schedule Details
ICO Phase: CST/GMT+8
1st-week 2nd-week 3rd week
• 1 ETH = 870 WDX + 30% FOR THE FIRST ROUND
• 1 ETH = 870 WDX + 20% FOR THE 2ND ROUND
• 1 ETH = 870 WDX + 10% FOR THE 3RD ROUND
1BTC Based on market price
WORLDEX ROADMAP
ICO will start from 3 PM March 18th, investors can purchase WDX coins in 3 phases on a first come,
first-served basis until 50,000,000 Coins are sold. As each new phase starts, the price will
increase. Investors will receive WDX coin within 5 working days after the ICO concludes.
• 2017/10/01 : Confirmed start of the WORLDEX project
• 2017/11/01: Initial draft white paper completed, circulated to potential angel
investors
• 2018/01/05: Announce WDXhange ICO plan, and release whitepaper to general
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public
• 2018/03/18: ICO begins (platforms will be announced soon)
• 2018/03/18 zzcex.com release v0.1 go live, Beta trading begins
• 2018/05/30 ICO finishes, or whenever the coins are sold out
WDX Value & Repurchasing Plan
Customers may use WDX to pay for any fees on our platform, including but not limited to:
o Exchange Fees
o Withdraw fees
o Listing Fees
o Any other fees
When customers use WDX to pay for fees, users will receive a significant discount:
Discount Rate
• 1st year = 50%
• 2nd year = 30%,
• 3rd year = 15%
• 4th year = 10%
• 5th year = 7%
Repurchasing Plan:
Every quarter, WORLDEX will use 25% of profits to purchase back WDX and destroy them, until
we buy 50% of all the WDX (50MM) back. All buy-back transactions will be announced on the
blockchain. We eventually will destroy 50MM WDX, leaving 50MM WDX remaining.
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WORLDEX CUSTOMER SERVICE
Poor customer service ranks as the highest complaints amongst users within existing
cryptocurrency exchanges. WORLDEX solution plans to address many of the issues, such s
support tickets going unanswered with a proprietary easy to use ticketing system, quick
resolution for login/account setups, fast processing of withdrawals. All this will be handled with
a 24/7 dedicated full-staffed and well-trained support team based in the U.S., Philippines, and
plans in Dubai.
Back Office
The back end office was customized from the ground up to quickly support and build out
necessary administrative services for WDXhange’s portal. Templates for emails in
communication are stored in the back office to instantly send out customized emails from the
SMTP servers. The simple and clean interface design of the dashboard allows for viewing
statistics and manage the details of the wallet. Other features include Google Captcha for
security, SEO & SEM settings, minimum & maximum trade limits with time expiration,
supervision of orders, buy/sell/withdrawal fees, and page management of the website to
quickly display and feed relevant information for news, testimonials, and FAQ to ensure
customer satisfaction.
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WORLDEX MARKETING PLAN
Trading Fees
WORLDEX trading fees will be .15% + .15% (maker and taker) per trade. There are further plans
set aside to discount larger volume traders in accordance with their trading tiers. The total global
cryptocurrency trading volume fluctuated from $5 billion to $70 billion USD daily over the past
few months based on cryptocurrency exchange volume data. Given these figures, the
following can be estimated:
30 billion * 0.15% = 45 million USD generated globally in fees daily
These figures are assumed with the most conservative estimates, as exchange fees vary
generally with higher percentages than .15%. For example, Bitfinex by itself operated on
average with $5 million USD in trading fees daily. WORLDEX moderate goal of only seeking after
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1% of the market share would yield the following;
6 million * 0.01% = 600,000 USD per day
Forecasting with a four-year multiplier, the overall revenue projection valuation would yield:
$600,000 daily * 365 days *4 years = $876,000,000 million USD
Given the overall global trading volume steadily increases with little to no signs of slowing
down, the 1% market share would likely represent significantly greater profits of the fees than
present market.
WORLDEX Fees vs. Other Trading Apps
As a reality, a cryptocurrency trader will have to deal with the fees that are associated
with the inherent platform. It’s a charge that must be paid in order to use the services of the
exchange of choice and most common fee types include charging the deposits and withdrawals
from the platform. Not to mention the fees that you can incur on the trading activity of various
cryptocurrency pairs.
When it comes to the different types of fees that have to be paid, they are usually
dependent on the type of transfer in terms of deposits and withdrawals. Take bank transfers,
credit card top-ups and the use of alternative payment methods, which can often cost money
even before you start trading on different platforms. However, there are some platforms that
offer free deposits and withdrawals, and the only fee that is needed to be paid is the
transaction fee on the blockchain, which is payable to the miners. Regardless of what exchange
platforms charge you and for what, the point is simple, there is some sort of fee to associated
with the service.
In a bid to separate itself from other crypto trading platforms, some companies have
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adopted a model where it's been decided to offer something completely different and provide
commission-free crypto trading. Those platforms consider crypto trading a loss-leader utilizes
investors such as Andriessen Horowitz and NEA, which means that it is offering this unique
service in a bid to attract customers to their platform. The value of the exchanges actually
comes from the growing number of people it has attracted to its platform in those 5 years,
which has helped it gain that $1.3 billion valuations and its goal is to essentially combine
cryptocurrency trading with the likes of the traditional trading you see with stocks, ETFs and
options. In doing so, it hopes to encourage a wider range of traders and investors and their
funds and attract them to a platform that encompasses everything.
Because these companies are still in its infancy, the free service and trading of many
cryptocurrencies are geographically limited at this present moment. With the bottleneck
service, there are still over 1 million people who are on a waiting list to become an integral part
of this fee-free platform. Again, going back to the immaturity of the platform, only bitcoin and
ethereum will be available to many users and this is because they prefer quality over quantity.
Remember they are not like other crypto exchange platforms where they aim to have as many
users as possible on their platforms, regardless of what cryptocurrencies are on there.
WORLDEX OPERATION MECHANICS
WORLDEX's platform is configured on open technology LAMP stack using best practices from
high-performance HTML5 web application development (JSON-RPC calls) for all
cryptocurrencies with experienced developers from the security and software financial
backgrounds. For example, the function calls will handle the following;
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• Create a new account on coin server running with new coin address, so it is important
that the label is unique otherwise new address will be added to the same account,
unless the label can be same if it is required to create multiple addresses under same
account (Wallet).
• Return all the account (Wallet) list available on the ZZC server with balance.
• Return the list of addresses under the same account (Wallet) using the label.
After the setup of the wallet file to verify how long it takes for transaction verification, the
wallet is encrypted and deposits will only occur with decrypt keys or private keys. All trades and
withdrawals account balances are stored in a primary database that includes replication and
failover to other cloud data centers.
Security
While actual information saved and transactions processed on the blockchain are
secure, WORLDEX understands the importance of the security of the user’s individual assets.
Adopting a broad standard for Information Security Standards, WORLDEX positions to be fully
ISO 27001and 27002 that maintains to ensure information assets are secured. Many of the
cryptocurrency institutions that had intrusions in the past few years could have prevented and
identified with credential reuse, account take over of cloud hosting, and application
vulnerability. People should hold cryptocurrency assets just the same as homes, cars, and
valuables in that one should take the necessary precautions to keep them safe. WORLDEX
platform will address some of the ways that clients can employ to keep cryptocurrencies safe
from any potential threats that may impose risks. It should be noted that no system is
foolproof, but by applying state of the art techniques, it can drastically decrease and prevent
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the chances of theft. The threat modeling below is based on the previous 51 incidents,
collected from publicly available data.
Server Breach
Security is at the forefront of infrastructure planning and has been made clear at how
serious the issue is about protecting data. In a world that is so public, society fails to
acknowledge that despite the technological developments that have been made with
advancements in computers, phones, and cars, the world is still incredibly naive about subjects
regarding security and safety. Cryptocurrencies aren’t immune from such security issues as
there have been countless raids on crypto exchanges and wallets, all of which have been made
public and received negatively with media attention.
An intrusion to recount that occurred on one of the larger exchanges was subject to an
enormous raid of 530 million hacking attacks, as reported by CoinTelegraph. The Japanese
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cryptocurrency exchange lost 58 billion yen worth of NEM cryptocurrency, which equates to
roughly $544 million. The issues still pending is that many customers have yet to receive a
reimbursement, even though it was assured which has led more people to speculate that the
platform doesn’t actually have the funds available to honor the mandate. Even the largest
cryptocurrency experienced an outage on February 7, 2018, which refuted there were any server
breach and rumors of hacking attacks.
Cloud Account Takeover Protocol: 2FA
Two Factor Authentication (2FA) is the industry standard security protocol for
cryptocurrency exchange platforms, which requires users to download software to their
smartphone. For example, once logged into one of the major exchanges, the user will be
prompted to enter a code from the authenticator app that was downloaded. For added
security, the code actually changes every 30 seconds, so the idea for two-factor authentication
is that even if someone manages to capture a user’s password, it won’t be applicable beyond
30 seconds, as there is a time expiration.
This manner of security can protect the customer from withdrawals too. In addition,
WORLDEX will prompt the user for a code when they would make a withdrawal from their
exchange account to their wallet. Two-Factor Authentication might seem arduous sometimes,
but it adds another layer of security to the process, rather than relying on just a standard
password. For example, if someone were just to rely on a password for security, what happens
if an attacker gets hold of it? They’d be able to transfer whatever they like and empty the
account. Additional safeguards with Two-Factor Authentication will deem it useless without the
code, even if someone does has identified the password.
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In this case, WORLDEX's transactions are linking to actual explorer to collect more information
from the actual website for withdrawals only or transactions outside the WORLDEX network if 2FA is
OFF;
• Verify all transactions with one-time password (OTP) at email and OTP
• Transaction ID’s with email will be tracked with IPs
• Short Message Service (SMS) with Twitter’s Digits password free to sign-in through
mobile applications optionally
Security Levels
• Level 1 – Normal
• Level 2 – SMS
• Level 3 – KYC
• Level 4 – Login tracking and verification, if deemed as suspicious login
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WORLDEX TECHNICAL DESCRIPTION
WORLDEX will provide cross-platform trading clients with the following device coverages:
• Web-based Trading Client
• Android Native Client
• iOS Native Client (pending App Store review)
• Mobile HTML5 client (including WeChat H5 client)
• PC (Windows) native client
• REST API
• Multilingual Support
Traders may complete transactions at any location, anytime, as long as they are connected with
full access to their portfolio on most of the widely used operating system platforms. The
thoughtfulness placed into the design for simplicity allows for instant transactions, no matter
the complexity. The initial release will be in English only with other languages will be added
over time.
SDLC Procedure
WORLDEX team will be applying the Software Development Life Cycle - Agile Methodology. The
Website proposes to follow our standard development model for software development under
which requirements and solutions evolve through the collaborative effort of self-organizing
cross-functional teams. It advocates adaptive planning, evolutionary development, early
delivery, and continuous improvement, and it encourages rapid and flexible response to
change. These principles support the definition and continuing evolution of many software
development methods.
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Cloud Server
The internet is in a period of evolution from building infrastructure (routers, bridges,
switches, databases), to developing applications that reside on top of hardware, with the value
being placed upon the brand building, design, and storytelling. WORLDEX deployment of advanced
algorithms and centralized repository via Cloud enables the mining and analysis of big data to
explore insights and generate evidence-based decision making conclusions. Node.js is utilized
to build WORLDEX fast, scalable server-side platform. Node.js is essential when designing our
exchange that connects users to rich analytics, as it uses an event-driven, non-blocking I/O
model that makes it lightweight and efficient, perfect for data-intensive real-time applications
that run across distributed devices. For example, sites that are built with PHP doesn’t handle
real-time as it is slow and uses a lot of memory resources.
WORLDEX will utilize the Compute Cloud Cluster Compute Quadruple Extra Large
Instances, which are specifically designed for high performance compute (HPC) applications to
achieve the computation assessment in one minute. The architecture will distribute the traffic
across instances with Elastic Load Balancing. During high-volume events or spikes, WORLDEX can process millions of transactions simply by calling up additional Amazon EC2 Cluster
Compute Instances and then reduced that number as demand waned. This allows to provision
resources without provisioning new hardware and rack space in co-locations or data
centers. Stress testing to ensure a minimum amount of concurrent users passes and
understanding the threshold of maximum users with performance degradation are key quality
assurance metrics performed by the team. The virtual private servers will be divided into five
different segments;
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• Database Server: Primary function is to persistent data with the MySQL engine.
• Session Server: Primary function as coin daemons, such as bitcoins or ZZC coin or any
other wallet by running the daemon and exposing the RPC calls URL. Block.io will be
used for bitcoin, where it will be white label IP of fulfillment with other security methods
and for all other altcoins, their daemon will be utilized (RPC JSON).
• Exchange/WebApp: Primary function will be used to host WDXhange’s website and
registration/login within the web app. This server will be divided into two separate servers to
reduce workloads, once traffic reaches larger usage count.
• API Server: Key middleware stack or “man in the middle”. The Ubuntu server will be
responsible for handling all the requests from wallet to validate, store private keys and
broadcast data to send coins out or into the system.
• Realtime Server: This server will be used to perform real-time actions – blockchain.
• Priority Scheduler Algorithm (optional): Used to perform works based on the configured
schedule. Auto-match the buy/sell request on the basis of priority of First Come First
Serve (FCFS).
The deployment of segmented servers is for security purposes and only limited IP addresses
from the hosted Exchange Web App will have permission to send remote procedure call (RPC)
requests.
Extended Validation
To ensure additional security and place trust into WORLDEX , Extended Validation SSL
certificates will provide an additional layer in safeguarding customers from phishing sites and
online fraud. The extra verifications with U.S. attorneys to include additional paperwork and
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create a physical and digital paper trail is something phishing sites would avoid. This provides
reinforcement and guarantees the company’s identity listing the company’s name in the
browser.
CRYPTOCURRENCY CONVERTER: MATCHING ENGINE
WDXhange buys and sells order book matching engine is capable of sustaining 1,800,000 orders
per second, making the platform one of the fastest exchanges on the market today. Traders can
be certain, on our exchange, that orders will never be trapped due to the matching engine
being overwhelmed. The business logic is applied to new offers and orders matching with
the best order and offer until fulfillment. If there are multiple entries with an identical price,
the oldest entry will be matched first. Finally, if the entry cannot find an exact match, it will
remain in the persist in the order book until the balance is matched or expires.
Features Rollout
WDXhange will roll out the platform in approximately the following order:
Spot Trading
WDXhange can advance the trader to buy/sell in spot trades. To close the position, the
advanced funds will be returned to Worldex exchange through several methods. First, repay the funds
through execution of an opposing trade to obtain advanced asset from the market. Second
method is to repay the advanced funds directly from the user’s account balance with no trade
involved, often referred to as position settlement.
Margin Trading
WDXhange will account for margin trading with cryptocurrency to allow users to borrow
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against their existing funds to trade “on margin”. This means users may leverage their current
cryptocurrency by borrowing to surge their purchasing power. In this example scenario, users
may choose place down $20 and leverage 5:1 to borrow $80 to acquire $100 value of
ethereum. No matter how the market reacts, the requirement mandates that the user is
responsible for the $80, plus fees. The advantage here allows users to hedge and speculate
without having to retain a full balance on WDXhange.
Futures
Cryptocurriences began trading on future exchanges only in Q4 2017 with subject to
regulatory oversight in the U.S. With the recent Commodities Futures Trading Commission
(CFTC) approval with the launch of CBOE and CME, trading activities in this sectors have gained
more credibility. Even with the transparency and liquidity, the structuring of funds around
futures will be the focus of WDXhange to drive broader product approval globally, as market
trading volumes are already strong, averaging $110 billion per day.
Anonymous Instant Exchange
This platform can be made available to traders who may want to get in/get out or trial
WDXhange, where no account is required to buy, sell, and exchanging. Furthermore, no email
will be required allowing for instant approval, with every transaction being denoted with
128but unique identifier that can be used for any resolution within the operation.
Decentralized (on-chain) Exchange
A decentralized exchange and new protocols are attempts to solve the following reported
market problems handle the explosive volume;
• Unauthorized Charges
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• Crashing and Freezing
• Unresolved Support Tickets
• Inability to Withdraw Funds
• Temporary Closure to New Investors and Users
Following the foundation of Bitcoin as a decentralized electronic peer to peer cash that
eliminates the need, inconvenience, and risk of a central authority, such as banks, trading on
WDXhange can take place on our blockchain through automated sequencers that complete
actions when conditions are satisfied, providing a faster, inexpensive, safer, and easier method
then going through traditional exchanges. For example, WDXhange’s “smart” automated
the sequencer can collect funds from an investor, and then release the purchased asset to another
when they are received. Traders can feel secure knowing that their tokens never leave the
blockchain and are not transferred until the order is submitted. The process begins with user’s
holding the tokens within a Wallet and then sending them to the network. Once the order is
received, miners are the next group that becomes involved to determine the most efficient way
for fulfillment, handling off-chain involving high computing power. The miners will submit
orders that are checked against the automated sequencer that manages the entire process of
order taking, sending coins, monitoring order books, while keeping trade history records in real-time.
This provides the assurance that the coins never leave the safety of the Wallet until the
trade executes.
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AML/KYC POLICY
To safeguard against false registrations, identification theft, or attacks which may
compromise and avoid compliance, WORLDEX's platform integrates an anti-money laundering
(AML) and know-your-customer (KYC) verification procedure. The user interface is friendly for
applicants during the initial registration process and once inside the exchange, they may select
from the simple or advanced mode.
However, on the back-end, the platform employs advanced technologies such as machine
learning (ML) and artificial intelligence (AI).
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WORLDEX leverages cryptographic security mechanisms used in distributed ledger technologies
to maintain data integrity and allow users with permissions over how their information is
stored and shared.
PROJECT TEAM
Team WORLDEX comprises of executives, staff members, and advisors from diverse
credentials with experience from financial markets, product commercialization, security
administration, hardware engineering, and software development. The company invests
heavily in talents from around the globe in each field of technical expertise to research the
latest technologies and build from the ground-up an innovative platform that is scalable and
proprietary. There will be only limited implementations of API for each coin from the third party.
The goal is to remain as independent, free from others central business operations and build
out the custom class file to make RPC calls for integration with all coins easily.
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Kevin Dole, Co-Founder
Kevin has 25 years of experience and comprises a network of over
5,000 agents with venture capital funds conducting in product
sciences field. His vast experience as an executive sales director
has led him to become a serial entrepreneur across many
business verticals. Mr. Dole is a graduate of California State
University with a major in Computer Science.
Leo Lu, Co-Founder
Leo possesses 20+ years of business and technology experience as
a strategic and executive management officer. The knowledge he
has contributed to industry peers include innovations expertise
leading startups, SMBs with $750M in sales revenue to Fortune
500 companies. Leo has been part of winning organizations such
as IBM, Franklin Templeton, DHL, and EarthLink. Leo was part of a
pioneering SaaS company that disrupted the market landscape
through their patented development of application virtualization
and streaming technologies. During his tenure, he architected and
led global teams of engineers to displace a traditional software
application marketplace.
In his capacity as a Co-Founder, Leo is responsible for securing
large- scale business opportunities both nationally and globally.
Also, ICO specializing in blockchain technology and business
migration strategy which aligns with WORLDEX to identify
opportunities, address critical challenges, and transform the
organization. Company practice focused on Business Intelligence,
Analytics, and Process Innovation in building out the next
generation distributed ledger platform, providing a wide range of
development to properly define whitepaper. In his off-time, Leo
is an active community leader with Rotary International, LA5, and
a former Scout. Leo holds a BSc in Information Technology -
Media Visual Communication, Masters in Business Administration
and Ph.D. candidate in Computation Science.
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NOTICE DISCLAIMER
The information contained herein may not be sent and or addressed wholly or in part, directly
or indirectly, to any person in the United States, New Zealand or the People’s Republic of China,
or any other jurisdiction in which it would be impermissible or restricted to offer, distribute,
purchase, sell or retain cryptographic tokens. This summary’s purpose is sole to inform the
third parties about WORLDEX its affiliates, and their business solutions. The products and
services mentioned here may not be suitable or available in some jurisdictions.
http://http://http://http://http://Social Media channels:
https://twitter.com/ZXC_Exchangehttps://zxchange.slack.com/messages/C9P3N404V/https://www.facebook.com/groups/1729086704054769/https://www.facebook.com/groups/Worldex.Exchange/https://t.me/ZXChangeDiscord:
https://discord.gg/bK7QXnReddit:
https://www.reddit.com/user/ZXChange/logo image:
https://docs.google.com/document/d/e/2PACX-1vQxtt1WLx5ziLcUcXoDfMwAVKK60-wa-ZXwOv393xRbCA5ePU4VtBdgwaFmrKV5Hsb8bk-quut-IR3t/pubbounty form:
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