SORAIX’S SOLUTION TO THE PROBLEMS IN TRADITIONAL EXCHANGES
INTRODUCTION
Soraix is determined to transform traditional stock exchanges comprehensively. To do this, it provides effective and realistic solutions to the challenges faced in traditional platforms. Currently, the market contains several crypto exchange platforms. Most of the platforms are about developers, and all they want is for the platform to work. They take into little consideration the needs of creative investors. Soraix tokenizes the exchanges to solve the problems faced by users and traders. Here are some of the challenges and how Soraix solves them.
• Stock markets and fiat currencies: Traditional exchanges operate on outdated models and protocols. Fiat currencies date as far back as the 11th century in China. These currencies are emitted privately, and overtime transfers its value to the entity printing it. Soraix accepts fiat currencies but is majorly based on cryptocurrencies. The blockchain is currently one of the most sought after technology all around the world. The introduction of the blockchain technology (cryptocurrencies) can revolutionize the stock market.
• Limited hours of access to Stock Market: Traditional stock markets only operate during business hours and in its local time zone. A trader who wants to capitalize on market events may have to wait until the market reopens. At this point, the trader’s opportunity might have passed. Soraix is a web-based platform, so it has no time limit. It is always open for trading, round the clock, and all week. Traders can capitalize on market events at any point in time.
• The general perception of the blockchain technology: The cryptocurrency market is currently a multibillion-dollar industry, and it is growing by each year. The problem with this is that technology is growing faster than people understand. This is the major obstacle to the required level of adoption of cryptocurrencies. Soraix addresses this by providing premium trading services that would be very appealing to traders. It does this in socially stimulating ways to ensure that there is an understanding of the technology and the platform.
• Transaction speed: The number of cryptocurrency users (wallets) is growing exponentially. The number of transactions per time has increased, and this slows down the rate of the network. As at 2018, the average time for one Bitcoin transaction to be confirmed on the network was between 30 to 960 minutes in extreme situations. Soraix uses a new order matching engine. With it, Soraix executes orders at lightning speed.
• High-frequency trading: These are ways by which traders see the preview of a trade that will soon be executed on an exchange. In such a case, the traders adjust their position to align with the trade to be executed. High-frequency trading is very disruptive to the stock market as it trashes its integrity. The ability to trade with ‘flash of trades' tips the market in favour of persons with HFT tools. It puts regular traders in an awkward position.
Conclusion
Listed above are a few of the solutions that Soraix introduces into the exchange market. It has the capacity and the team to maintain this and provide even more solutions.
USEFUL LINKS
Website: https://soraix.com/
Whitepaper: https://soraix.com/static/whitepaper.pdf
Telegram: https://t.me/soraixico
Twitter: https://twitter.com/Soraix3
Facebook: https://www.facebook.com/soraixteam/
AUTHORS DETAILS
Bitcointalk username- Uju4real
Bitcointalk profile link- https://bitcointalk.org/index.php?action=profile;u=2202971