Bcnex — The Bcnex Exchange and proposed solution !!!
The purchase and sale of cryptocurrency will become easier in the future. Today I will still talk about cryptocurrency topics. In the previous article I briefly introduced you to a new trading platform, and today we will learn more about this trading platform. The problem today that we will study is the solutions of this trading exchange.
Technical solutions
The BCOMS Order Matching System
The Bcnex Order Matching System (BCOMS) is a component that matches the buy and sell orders Of the exchange. This is the most important component Of Bcnex and is built with great precision. All buy/sell orders are stored in high-performance queues and the system is designed to ensure data integrity with no losses of orders. The BCOMS has low latency and flexible scalability, making it capable of handling up to 2,000,000 trading orders persecond. This makes Bcnex one of the fastest exchanges in the industry, thus eliminating common issues due to overloaded systems and clogged orders.
A stable system built on microservices architecture
Bcnex deploys microservices architecture to ensure scalability by adding physical servers when the system needs to handle a large amount of traffic and transactions. With a load balancing system placed on a robust infrastructure with the capacity to automatically monitor the system’s condition, Bcnex maintains a stable service with uptime of up to 99,9%.
Access speed is also one of the prerequisites they focus on to improve user experiences.
Bcnex uses microservices architecture, which is divided into small services with separate databases. This allows us to easily make modifications and scale when needed without compromising the whole system.
Safety and security solutions
Multi-layer security architecture
Bcnex has been engineered from the ground up with security in mind. To ensure this,they are deploying system security across multiple layers, including (but not limited to):robust firewalls, anti-DOS tools, and multiple user alerts. If abnormal activity is detected,Bcnex blocks the account for a certain period of time and alerts the owner of the account.The use of Google/SMS 2FA Authentication is required when the users perform
any action relating to security and withdrawals on the platform as an additional measure of security. In addition to the process of KYC (Know Your Customer) before attempting to perform any transaction-related behaviors. They will make efforts to ensuresecurity Of all users’ crypto assets, aiming to achieve banking industry level auditing and security compliance.
Optimal wallet solution
Considering that large balances of cryptocurrencies are being stored on major exchanges, it is important to have a strong system to keep user funds secure. After a long period of research and cooperation with security firms, they have designed a completely secure solution even in the event that the system is compromised, while still ensuring the system’s liquidity. Our solution consists of a combination of a hot wallet, a cold wallet, and secure hardware. Our wallet operational structures are similar to those applied by banks, ISP providers, and the governments of developed countries. The vast majority of Bcnex’s digital assets (98%) are stored in various cold wallets, completely separate from the Internet and immune to malicious attacks. The remaining balance is in the hot wallets that are enough to cover daily withdrawal amounts of users.
To enhance the security of our wallet, they use hardware modules that perform transactionauthentication with 2FA locks, limit the transaction amount for a period of time, and sign and send transactions to the blockchain. These modules have automatic periodic checks and will stop working if interference is detected. With these high security measures in place, the Bcnex wallet system ensures the security of users’ assets.
Liquidity solutions
The team behind Bcnex has ample experience in everything from design to client support all the way to customized liquidity management and low latency trading architecture in the forex trading industry. They have worked with, as well as operated, several trading platforms for business partners worldwide and have accumulated a large network of partners in the industry. These partners will be the key to the launch of the exchange and will lead to solid investment opportunities for users built on a well established foundation of existing business in terests and exchange model, seamlessly integrating traditional financial services with proven blockchain platforms and the emerging digital economy.
Customer service solutions
Along the development of the infrastructure of the exchange, Bcnex considers service quality as its core value and competitive advantage in the emerging digital economy. At Bcnex one of our top priorities is a pleasant user experience. Realizing that the largest user experience improvement to be made on current cryptocurrency exchanges is customer support, Bcnex’s qualified team members are always willing and ready to solve any arising issues. As the number of users grows in our community, so will the customer support team, seamlessly.
Bcnex is not only built on sound technology, it is also supported by a team with ample experience in traditional financial services. Our goal is to create an intuitive and stable environment for traders, offering a flawless user experience.
Proposed features:
- They will deploy the platform in the following order:
- Spot transactions;
- Margin trading;
- Future contract;
- 100% anonymous automatic order matching mechanism
- And many more features
Supported Coins/Tokens
Bcnex will support transaction pairs with these major coins:
BTC
ETH
USDT
BCNX (released by Bcnex)
Apart from using BCNX tokens to trade, buy, and sell other cryptocurrencies/tokens on Bcnex, traders can also use BCNX to cover transaction fees and receive incentives Of up to 75%. They will also have a special support program for a fixed number of coin/tokens that they consider to have long-term potential. New coins and tokens will be added in the future after a careful review process to ensure consistency and quality. Only coins and tokens from projects with high reliability, large user bases, and strong liquidity will be accepted for review. In addition to cryptocurrency and tokens, Bcnex will support the trading, purchase and sale of several fiat currencies, such as USD, CHF, RMB, JPY, KRW, and VND with more to be added in the future.
Device coverage
Most exchange platforms only support one language, but Bcnex will be multilingual. Upon launch, support will be available in English and Vietnamese with Chinese, Korean, Japanese and other languages added gradually. Users will enjoy a fast, secure, and highly flexible environment that integrates familiar features intuitively into the digital asset ecosystem.
From a user-friendly identity authentication service to multi-lingual support and fast response times — Bcnex is designed to Offer a customer centric experience from start to finish.
Conclude:
The above is full of necessary information that you need to know about Bcnex solutions. For me the project is showing the ability to do everything. I greatly appreciate what they can do, but I hope the above documents will help you gain more knowledge about this project. In the upcoming article on this project, I will present the ICO section of the project. If you are interested in it, follow and wait for my upcoming posts. Thank you for reading this article !!!
__________________________________________________________________
