RubyKube - Create your own exchange with open-source (not an ICO)

[dvabit]

first of all I'd like to say that this is not a shill post, as this project is not even an ICO or trying to sell you anything.

RubyKube is an open-source project with over 300 contributors from all over the world besides the core team of over 60 developers. It is created out of the abandoned Peatio project giving it various new and amazing additional features. While the core project supported wallet and order book, the new creation with the name of RubyKube includes a lot more than that. By adding more flavours to the old project, RubyKube has defined new extended boundaries for its users. Being an exchange of its own kind, RubyKube offers much advanced business logic and KYCs.

The team has put forward the extraordinary work for getting us the most advanced and new age cryptocurrency exchange in place. I think it deserves more attention as devs are working hard on making it work, but there is little to no attention being brought onto this project, that is the reason I am writing this post. So, let’s check out the features that make this exchange so intriguing.

Easy Installation and Maintenance: If you lack the knack for using digital coin exchanges, this is what would make things easier for you. RubyKube uses Kite as the installation and administration tool. It is just a cake walk to deploy the platform in less than an hour with no expertise needed. In addition, the back end is entirely customizable using the front end of the platform designed with React.

Huge Number of Supported Coins: The platform supports huge number of coins including BTC, LTC, BCH, DASH, ETH, XRP and many others.

Unmatched Security: You name it and RubyKube has it. 2FA, multi-signature, DHWC wallets, balance control features are all available under one roof.

Supports ERC20 Tokens

The whole thing is open-source, which means you get what you see. They've got people helping them coding it from all around the world.

Here is rubykube subreddit - https://www.reddit.com/r/rubykube/

Github - https://github.com/rubykube/

[AdolfinWolf]

Sounds interesting and promising, but i'm missing the catch. - Why exactly is it open-sourced like this? Is there some sort of commision you guys want to take per transaction or?

Also -- this was the original project -- correct? https://github.com/peatio/peatio

Are there any demo's up yet? I don't see any sites linked in the github. Would love to see the actual product.

[dvabit]

Sounds interesting and promising, but i'm missing the catch. - Why exactly is it open-sourced like this? Is there some sort of commision you guys want to take per transaction or?

Also -- this was the original project -- correct? https://github.com/peatio/peatio

Are there any demo's up yet? I don't see any sites linked in the github. Would love to see the actual product.

Here is Rubykube Github open source https://github.com/rubykube


Yes the original project was Peatio.


Ripa exchange is based on rubykube open source.

For more information visit rubykube websites - https://www.rubykube.io/

[hase0278]

Do you have a working demo product that can be easily accessed by someone who is not that great in programming(for instance someone who only knows a few basic programming language like Java)? I'd like to tinker with it at least once but I'm not familiar with the programming languages used to build it. Also, will everyone who will create an exchange with you have a centralized or a decentralized exchange?

[pinkflower]

Good project! But like what AdolfinWolf asked, why the announcement? Are you looking for more people to contribute in Github or do a security audit and a peer review?

[dvabit]

Good project! But like what AdolfinWolf asked, why the announcement? Are you looking for more people to contribute in Github or do a security audit and a peer review?

Yeah looking for more contributor on Github

[weaseldotro]

I think open source projects are great, however I don't understand why somebody would want to create an open source crypto exchange. I'm saying this because I'm also working on a cryptocurrency platform - https://www.aplusdelta.com/ - and I've thought of open sourcing the code.

But why would an open source crypto exchange attract users? What would be the advantages?
This is still a centralized exchange, so it doesn't matter that the source code is available, the owners could still steal everybody's coins and exit scam if they wanted to.
Users who have the programming skills to understand the source code would also be mindful enough not to trust a third party with their private keys, so they probably wouldn't use a centralized service.

[butka]

But why would an open source crypto exchange attract users? What would be the advantages?

The only advantage I can think of with an open source crypto exchange code is the potential community, if there is one. The community can help address bugs and increase security.
This is also a potential disadvantage. With an open source code, a potential attacker could go through the code, find and exploit bugs that haven't been addressed in time.
So, even though open source is generally a great thing to have, with crypto exchange code, I would be careful because the devs may not be good enough or the community not strong enough.
I'm not saying that's the case here as I don't know RubyKube.

[pinkflower]

But why would an open source crypto exchange attract users? What would be the advantages?

The only advantage I can think of with an open source crypto exchange code is the potential community, if there is one. The community can help address bugs and increase security.
This is also a potential disadvantage. With an open source code, a potential attacker could go through the code, find and exploit bugs that haven't been addressed in time.
So, even though open source is generally a great thing to have, with crypto exchange code, I would be careful because the devs may not be good enough or the community not strong enough.
I'm not saying that's the case here as I don't know RubyKube.

Propietary software can also be exploited and can be less secure than its open source counterparts. The best proof would be in operating systems, Windows is more exploitable than the open source Linux.

[TheWolf666]

Why there is no demo online, so that we can just check how it is looking from the users perspective?
When you find this project is looks like a huge mess.
Videos, and all the demos do not show anything visual...where are the screenshot in your website for example?

[bradock]

its peatio rubykube.

[Patatas]

To my knowledge, Petaio is sort of decentralized by not perfectly decentralized. Does your fork solve that problem? If yes, then good work my dude! Also, you mentioned you had 300 contributors but the repo states only 77? That's not a bad thing or anything or hope you edit it.

I will definitely try running it locally and see how it goes.

[JollyGood]

Sounds interesting and promising, but i'm missing the catch. - Why exactly is it open-sourced like this? Is there some sort of commision you guys want to take per transaction or?

Also -- this was the original project -- correct? https://github.com/peatio/peatio

Are there any demo's up yet? I don't see any sites linked in the github. Would love to see the actual product.

They have limits on TPS on their free version, around 2,000 I read. They also do not have easy to install guides.

Here is their demo: https://demo.openware.com/ (https://demo.openware.com/trading/fthusd)

They also have a commercial version at around $70,000 per month which they host and take care of all security updates/patches and future updates which is configured to handle around 2 million TPS.

As a starting point, the free version is a great thing to have. Once installed it can be modified by an expert at cost of course to give the increases in TPS

[JollyGood]

Sounds interesting and promising, but i'm missing the catch. - Why exactly is it open-sourced like this? Is there some sort of commision you guys want to take per transaction or?

Also -- this was the original project -- correct? https://github.com/peatio/peatio

Are there any demo's up yet? I don't see any sites linked in the github. Would love to see the actual product.

This is the RubyKube platform which used Peatio but has gone further and implemented other tools: https://www.rubykube.io/

Here is their Telegram: https://t.me/peatio

And here is their demo: https://demo.openware.com/

[Kyraishi]

I've always liked the idea of an open-source, crypto exchange, that had a large range of coins, and a process which allowed any coin to get on the exchange if X votes were obtained from the community.

I've heard about peatio, from a friend who was surprised about the direction that they where going (releasing their source code in China), but it never seemed to get off the ground, last time I checked.

Great post, I've sent it to a couple of developer friends who may be interested in helping out, I really like all the features you are offering on the site, and as long as your team of developers is able to keep security to the same level as top exchanges, I think you'll have no problem with users and their funds. Multi-sig and 2FA where a good implementation.

To my knowledge, Petaio is sort of decentralized by not perfectly decentralized. Does your fork solve that problem? If yes, then good work my dude! Also, you mentioned you had 300 contributors but the repo states only 77? That's not a bad thing or anything or hope you edit it.

I will definitely try running it locally and see how it goes.

I don't think it's fully decentralized, more like IDEX decentralized (where like the exchange still holds and is involved with user funds), that's the vibe I got from the website.

[JollyGood]

@Kyraishi


If you run RubyKube on your own server then it is an exchange that you run yourself. Here is a demo: https://demo.openware.com/

Nearly all exchanges use some variant of Peatio. Even though Peatio was discontinued years ago, RubyKube has taken it on and modified the code, then added other open source code to make it an out-of-the-box install.