It is now an integration backbone for use by many companies.
OpenLedger is the name chosen by CCEDK who is the leader among several exchanges who are networking together to share common services, market depths, and network effect on a single blockchain - the BitShares Exchange Network.
There have been 8 small exchanges who have expressed interest/intent to join for the purpose of providing their customers with the benefits of dealing with a bigger exchange while being transparent and having their books decentralized on a block chain. If you are planning to start an exchange, becoming a member is a way to get traction quicker.
Here's what I said about it when it was first announced.
The BitShares Blockchain now has a whole new purpose.
Not only is it a second generation coin containing a decentralized exchange that produces smart-currency products...
Now it's also a transparent inter-company network letting exchanges give their customers and assets trading access to customers and assets on other exchanges.
Here's the details about why this is revolutionary:
Yeah, but it will never happen, right?
Not so fast! Check out this week's Big BitShares Announcement!
Not only is it a second generation coin containing a decentralized exchange that produces smart-currency products...
Now it's also a transparent inter-company network letting exchanges give their customers and assets trading access to customers and assets on other exchanges.
Instead of competing with traditional exchanges,
we are multiplying the markets they can enjoy by networking with each other.
we are multiplying the markets they can enjoy by networking with each other.
Here's the details about why this is revolutionary:
Now that you've had time to absorb all the cool new features in BitShares 2.0, its time to start unveiling some of the implications about what is possible. In this post, I'll lay out one of them.
Now, instead of having separate shallow markets inside their own stovepipe order books, they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges. Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges. Like a rolling stone.
This greatly expands the network effect, liquidity and market depth of all participants. A bigger pie for everyone.
And with our new referral system, every participating exchange keeps their own profits from signing up their own customers and issuing their own assets.
We have the perfect way for them to safely compete and cooperate on a single, compelling, transparent exchange network.
And every customer holds the keys to their own assets, fully decentralized where they won't be such juicy targets for hackers.
With easy to use multi-sig accounts to make those decentralized accounts even more secure.
BitShares 2.0 has the industrial strength to handle the workload of all member crypto exchanges combined.
It is the perfect application to serve as an inter exchange networking back bone.
(Almost like we planned it that way.)
The BitShares Smartchain can serve as a backbone
to support live trading between traditional exchanges.
to support live trading between traditional exchanges.
Now, instead of having separate shallow markets inside their own stovepipe order books, they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges. Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges. Like a rolling stone.
This greatly expands the network effect, liquidity and market depth of all participants. A bigger pie for everyone.
And with our new referral system, every participating exchange keeps their own profits from signing up their own customers and issuing their own assets.
We have the perfect way for them to safely compete and cooperate on a single, compelling, transparent exchange network.
The BitShares Exchange Network.
So, exchanges can do more than just serve as gateways and bridges.
They can publish their own order books transparently on our Smartchain.
They can publish their own order books transparently on our Smartchain.
So everyone can KNOW that they are honest and solvent.
And every customer holds the keys to their own assets, fully decentralized where they won't be such juicy targets for hackers.
With easy to use multi-sig accounts to make those decentralized accounts even more secure.
BitShares 2.0 has the industrial strength to handle the workload of all member crypto exchanges combined.
It is the perfect application to serve as an inter exchange networking back bone.
(Almost like we planned it that way.)
Yeah, but it will never happen, right?
Not so fast! Check out this week's Big BitShares Announcement!
CCEDK.com will put its exchange on a transparent Smartchain offering to trade with other exchanges there.
(And provide them fiat ramps and crypto-aware debit card support in the mix.)
(And provide them fiat ramps and crypto-aware debit card support in the mix.)
