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Mybinet Exchange creates a one-stop financial derivative product diversified business ecosystem

Press ReleaseMybinet Exchange creates a one-stop financial derivative product diversified business ecosystem

Mybinet Exchange is a global professional digital currency trading platform, committed to building a global value circulation digital asset trading ecosystem based on decentralization. Mybinet Exchange mainly provides cryptocurrency and derivatives trading services for digital assets such as Bitcoin and Ethereum to users around the world.

Mybinet Global Blockchain Ecological Foundation is headquartered in Singapore. It is a fund company focusing on token economy and digital asset trading. It is also an international digital asset financial service and large-scale blockchain project incubation base. Create a transparent, open, safe and efficient trading environment for global digital asset users, support a safe and reliable blockchain digital asset trading platform, and effectively protect the rights and interests of investors.

Mybinet Exchange is building the most secure, stable, and efficient digital currency international station for users around the world, providing the highest quality service experience, and the self-developed matching system can process millions of transactions per second. Mainstream currencies such as USDT, BTC, and ETH have been launched. In order to meet the diversified needs of users, Mybinet Exchange has not only developed an advanced matching system for currency transactions in terms of digital currency transaction services, but also opened up safe and efficient C2C transaction services. In addition, Mybinet exchange has also prepared diversified listing schemes for project parties, using blockchain technology and token economic models for customers to build a continuous, transparent, low-friction, and non-discriminatory transaction. environment.

The Mybinet exchange development team are all from well-known companies in Silicon Valley. While focusing on improving user experience, they are constantly upgrading platform technology and improving the ecosystem. Based on value, they use scientific and efficient management and operation methods to accumulate distributed ecological resources and energy. Export this energy to the entire industry, and finally feed back the entire ecology through the empowered application, and finally form a development trend of cyclical empowerment and continuous growth.

Mybinet core advantages

1. High security

Mybinet will be built on the self-developed underlying blockchain network, and will learn from previous mature public chain systems to ensure the highest level of security.

2. Transaction speed

The underlying blockchain network independently developed by Mybinet ensures that users can enjoy the top transaction speed experience and maintain the highest transaction speed TPS.

3. Transparency

Mybinet will put transaction information on the chain to remove the inflated IOU that may occur in the operation of the centralized trading platform, misappropriate user deposits and the market for gambling, etc.; reduce the risk of using the trading platform and increase the transparency of the trading platform.

4. Privacy

Many centralized trading platforms collect user information through KYC, which increases the risk of user information leakage. Mybinet exchange will use cryptography to encrypt user information and transaction information to protect the privacy of user information.

5. Low transaction costs

Mybinet will provide flexible and diverse trading methods for users to choose. Users with a large amount of transaction funds can choose to log the entire transaction process information on the chain. In this way, the security of the transaction has the highest guarantee; at the same time, because each link needs to consume Gas fees, the transaction cost is high, and small funds Users who have no requirements for volume or security can choose to upload part of the transaction process information to the chain, and only need to put the transaction clearing information on the chain, and the transaction matching, custody and other processes are performed off-chain, resulting in lower transaction costs.

Mybinet system advantages

1) High-performance matching engine 

The Mybinet team has professional and many years of experience in the development and operation of financial systems and exchanges. The matching speed of up to hundreds of thousands per second and the safe storage of cold wallets ensure a faster and safer digital asset transaction experience for users.

Mybinet uses distributed parallel technology, which can be expanded at any time as the transaction volume increases. The front end introduces traffic through load balancing, splits the load balance according to different services, and calls different load balances according to different service flows, so that different services can be expanded as much as possible. At the same time, the flow entrance can be dynamically configured. When a load balancer cannot withstand the flow pressure, the subsequent flow will be transferred to other load balancers to achieve dynamic expansion. The gateway cluster and business cluster built by cloud servers can achieve parallel expansion and hot expansion.

2) AI smart selection system

Pay attention to the undervalued currency in the market and the high-quality currency that is blocked by the high threshold of other trading platforms. The goal of platform design is to fully ensure the fairness and transparency of the market. And it can meet the regulatory compliance requirements of safety, auditing, reporting, analysis, etc. in the safest and most effective way. Comprehensive evaluation and selection of currencies based on multiple factors such as transaction volume, transaction time, growth index, community contribution, etc., one can discover the value of digital assets together with market investors, and the other can reduce the maliciousness of air currency and scam currency to the platform Investment risks and losses caused by the amount of money entering the main area.

In addition, Mybinet refers to the Currenex trading platform’s innovative patented technology in order matching and liquidity sniping. It has the characteristics of an average matching engine speed of less than 850 microseconds, low latency matching, and high security of order management functions.

3) Safety and stability, multiple technical guarantees

Protecting the security of users’ digital assets is the foundation of all trading platforms. Before understanding how to protect the security of encrypted digital currencies, we must first clarify the hidden dangers of digital currency security faced by exchanges, mainly in the following aspects:

• New application of consensus mechanism

The asymmetric encryption algorithm used in the blockchain may become more and more fragile with the development of mathematics, cryptography, and computing technology. Secondly, under the Bitcoin mechanism, the private key is stored in the user’s local terminal. If the user’s private key is stolen, it will still cause serious losses to the user’s funds.

Mybinet service platform protects users’ private keys from being stolen. There are safe deposit strategies, distributed custody strategies, and private key 3 selection and 2 opening strategies. Regardless of each custody method, it must be very confidential. It is guaranteed that one copy is lost. Others There is a make-up.

• New application of smart contract

Like traditional programs, smart contracts will inevitably have security vulnerabilities. The difference is that due to the immutable nature of blockchain technology, once the contract is deployed, it is difficult to fix the problems. After the deployment of some token distribution contracts with vulnerabilities such as integer overflow, the tokens are traded on the exchange, and then the vulnerability is triggered. A large number of tokens are issued in a short period of time, which will affect the market value, which will cause a huge impact on the exchange and users. Economic loss.

In response to the security vulnerabilities of smart contracts, Mybinet will go through a complete contract code security audit before launching new tokens to prevent problems before they occur and minimize possible attack threats.

• Information system security

The digital asset exchange is composed of web servers, back-end databases and other elements. Users access the server as clients through browsers, mobile apps, and APIs provided by the exchange. Because the main threats are from server software vulnerabilities, improper configuration, DDoS attacks, server-side Web program vulnerabilities (including technical vulnerabilities and business logic flaws), office computer security issues, insider attacks, etc.

For this kind of security threats, Mybinet refers to the security regulations and best practices of the traditional financial industry to improve its security system construction. Through security services such as penetration testing and code auditing, we can explore and repair the security vulnerabilities in the system, and ensure the security of user assets in mobile phone security, real-name authentication security, Google dual authentication security, server SLB balance and simultaneous backup.

4) Full platform client support

Mybinet will provide support for all-platform clients, including the following clients:

• Web browser

• Android client

• IOS client

• H5 mobile browser

• PC client

5) Multiple financial instruments

In addition to supporting ordinary currency trading, Mybinet will also launch leveraged trading and futures trading functions in countries permitted by the policy in the later period. It will also support short-selling investments to facilitate investors to maintain and increase the value of cryptocurrency assets by hedging.

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