NGKEX breakthrough: An innovative product competing for the rights in digital asset trading
Since the second half of 2020, the accelerated entry of traditional financial institutions and technology giants has led the mainstream market to pay more attention to crypto assets. The scale of the crypto market has grown rapidly, and the structure of the industry and user groups has also quietly transformed. The operating strategy of the exchange platform also needs to be changed urgently.
According to statistics, the annual trading volume for the futures market of digital asset in 2020 is as high as US$12,314B, which is the first time that the growth rate has surpassed the spot market. The market share of perpetual contracts has increased significantly, showing that leading exchanges are paying more attention to futures contracts. Binance, Huobi, and OKEx have successively achieved coverage of mainstream asset futures contracts. In the subdivision field, the contract platform represented by the NGKEX is also exerting its strength.
After several system tests, the NGKEX was officially launched. When it went online, its matching performance was as high as 1.4 million transactions per second, and a single shard supported orders up to 30,000 per second, and the orders were issued as soon as they were triggered. At the same time, the NGKEX adopts the DPOSS consensus mechanism. The platform network data is transmitted through TLS channel. It has a multi-dimensional security risk control system such as asset circulation backtracking, alarms, risk response, data monitoring, etc., to provide investors with a safe and reliable trading environment.
The novice players increase, the industry threshold needs to be lowered
With the continuous emerging of crypto assets, the number of new traditional investors has continued to increase, and the previous stock market has gradually changed to an incremental market. Different from the early players, the understanding of traditional investors for crypto assets and investment strategies need to be improved. However, in the face of interest and market competition, some platforms ignore the user education, overemphasize benefits, and use the data of profitable users to attract other users. They tend to forget platform is the essence of an exchange. This approach reduces the user lifecycle and creates unsustainable business model.
Other than providing crypto trading, OTC trading, leveraged trading and contract trading, the NGKEX will also provide services such as blockchain education and blockchain project cultivation through hands-on teaching, so that investors can truly appreciate the charm of the crypto market. These methods will help users to quickly understand the crypto market, establish their own trading theory system, eliminate the threshold of digital financial derivatives, promote the integration of the crypto market and the traditional market, thereby preventing “fraudulent growth”, and maintaining a good market order.
In addition, the deposit and withdrawal of NGKEX opened the TRC20 channel to enhance the utilization of investors’ funds and provide more operational space. In addition, the NGKEX has designed a unique handling mechanism for penalties to prevent users from solely responsible for penalizing losses. The design concept of no handicap allows even novice investors who are new to contracts to get started easily, reducing the entry threshold of investors in all aspects.