Blockchain Board of derivatives (BBOD), the world’s first hybrid cryptocurrency derivatives trading platform was launched on Friday, the 3rd of August, in partnership with GMEX Technologies enabled by its GMEX Fusion Technology Suite. Traders all around the globe can now have access to this platform which makes it easier for traders to access it.
BBOD’s co-founder and CTO Chris Urbanowicz, who is now known as a “Tech Wizard” was laughed at initially when he declared his vision of creating a hybrid cryptocurrency trading platform. He was one of the few visionaries who realised the full potential of blockchain as a technology.
As of now, the investors of the crypto communities have had a limited choice between either centralised or decentralised crypto trading platforms. In the case of centralised platforms, there is this benefit of speedy transactions, however, this system puts the funds at risks. On the contrary, decentralised systems offer enhanced security but offer restricted trading options and sluggish transaction speed.
Nevertheless, the move marks the dawn of a unique approach in the crypto industry i.e. the hybrid approach. It brings together the merits of both, the centralised as well as the decentralised systems of crypto trading. It offers an amazing blend of speed and security, making it one of the best offerings in the market.
To keep traders in the authority of their own funds, Urbanowicz and his team of dedicated individuals designed a unique solution – the smart contract wallet system. In this, each trader gets a custom designed wallet for trading on BBOD, known as smart contract wallets which are then connected to its high speed and centralised GMEX technologies matching engine. The processing speed of this engine averages to around 75 microseconds making it able to process over 1,250,000 orders per second. This gives users a direct control over their funds without any lags or delays associated with completely decentralised hybrid cryptocurrency payment platforms.
The hybrid platform is to furnish the market with diverse peer-to-peer cryptocurrency derivatives contracts. These offerings would mainly include:
- Ethereum-Dollar Perpetual
- Ethereum-Dollar Futures
- Bitcoin-Ethereum Futures
- Ripple-Ethereum Futures