It won’t be wrong to say that 2020 has been a year of Blockchain technology and it will maintain its hold in the upcoming years as well. This disruptive technology has made its way to various sectors like healthcare, finance, and supply chain management. It is no disguise that as technology is becoming popular, investors’ interest in cryptocurrencies is also increasing at an alarming rate.
Every Blockchain Exchange Development Company is looking and running after this as every day the crypto trade volumes are swelling and users are looking for safer, cheaper, faster, and reliable exchanges. In this particular blog, you’ll be reviewing the most important and effective features of the Blockchain Exchange Software.
Let us dive right into it.
Envisage the Best Features Of a Blockchain Exchange Development Software!
Many features of Blockchain Exchange Development Software make the platform unique and reliable for businesses’ to utilize. Let us now directly move to its astounding features.
Wallets
An exchange that comes with a secure wallet is a big advantage for users around the world. A wallet is a place where users store their assets. One important thing to note here is that the exchange must offer a wallet that supports multiple cryptocurrencies at a time. This is important as the traders will not require different wallets to support different assets. However, a wallet or wallet integration must be secure.
However, the price varies depending on the wallet integration and security aspects.
Intuitive interface
It would be right to say that not all traders are experts in managing trading and cryptocurrency. To be an expert in that particular field, Blockchain exchange Development Company is his first entry-point. Needless to say, for an exchange to be successful, an intuitive interface is key. It must apprehend the needs of both the parties i.e novice and professional traders.
Since the platform and its functioning can be complex for a trader, the interface must be kept simple and easy to understand by the trader.
Liquidity and fund control
For an exchange to start all its operations, the most important thing is to have liquidity. It is perhaps valid to understand that no trader would associate and start working with an exchange that has liquidity issues. There are many ways to generate liquidity, such as:
The decentralized exchanges ask the traders to become the Liquidity Providers (LP) by submitting their assets to the exchange. The traders earn interest on their assets, whereas the exchanges build the liquidity.
You must understand that for an exchange to run and operate successfully, the fund control strategy must be in place. This is mandatory because different fund strategy measures require different levels of security measures.
Trading engine
A trading engine is a must-have for any Blockchain Exchange Software. The utmost important thing is that the trading engine must be assisted by live price charts, volatility index indicators, and analytical tools for professional traders.
In case if you’re planning to bring a decentralized Blockchain Exchange Development Software platform in the market, the smart contract logic needs to be in place instead of a trading engine. The smart contract logic kick starts-off the trade and ensures complete safety and security of the trades. You might not be aware of the fact that smart contracts, execute automatically, so the traders and exchange operators need not be required to supervise the trade all the time.
Conclusion
Always remember, when you’re operating a Blockchain Exchange software Company, it is all about people’s money. So, you just cannot take it lightly in any way. You must operate and enter the market only if you have reliable, highly secure, and fast exchange criteria, or else it can be a hard task for you. Also Read: What Are The Pros Of Combining AI And Blockchain Technologies?