Blockchain Board of Derivatives (BBOD), in partnership with GMEX Fusion Technology Suite, has launched what is described as “world’s first hybrid virtual currency.” This new platform will enable traders all around the world to gain unreserved trading access to this initiative.
Though eight years ago when the co-founder and CTO of BBOD, Chris Urbanoviczfirst tried selling this idea of a hybrid digital currency exchange platform to investors, prospective investors took him for a joker. Though these investors were not wrong because, as stated then, there are few blockchain technology enthusiasts (as himself) who knew or perhaps thought of the full potential of the technology. Soon enough, the table turned, and he is highly cherished by the digital currency trading community and fondly referred to as “tech wizard,” a title well deserved.
Despite Chris Urbanovicz’s background in Econophysics and his devotion to both his academic and professional career conventional economics and quantitative trading, he didn’t relent on his quest to do something challenging and different. Also, he was not pessimistic despite the negative replies and mockery he got at inception, Urbanovicz continued striving, surrounding himself with like-minded economist and other blockchain technology enthusiasts who have a grasp of his vision.
After years of consistent strategizing, planning, developing and funding of this project, he (with his team) was able to launch the hybrid Virtual Currency trading platform which is the first of its kind in the world.
The Hybrid Cryptocurrency Trading Platform
In cryptocurrency trading, the trader usually has to decide whether to use the decentralized or centralized exchange platforms, leaving them with no option in between. Although the decentralized platforms offer enhanced security by keeping traders in control of their funds, the process is slow which often constitute a limitation to trading options. The centralized exchange platforms, on the other hand, is relatively fast because it processes transactions quickly but it exposes traders to undue risk owing to the fact that traders have to release their funds.
However, this newly introduced Hybrid Trading System launched by BBOD is revolutionary as it signifies a new era in cryptocurrency trading. The BBOD’s new system does not only provide traders with the speed and accuracy of a centralized platform but also offers the security of decentralized platforms.
Chris Urbanovicz and his team of experts has developed a unique custody solution so as to keep traders in absolute control of their funds. The answer is the “Smart Control wallet system.” This system enables each trader to create their own wallet designed for the purpose of trading on the BBOD platform.
The platform also has linked the smart wallets to its high-speed centralized engine based on the GMEX Fusion Technology Suite which has the capacity to process 1,250,000 orders per seconds. This technology will enable traders to maintain control of the fund and also enjoy speed which is obviously lacking in the decentralized trading option.
The company further stated that the platform would be coming on board with its token (BBOD Token) which enables traders to have a saving of about 20% in fees. With this brilliant combination of security of the decentralized trading platforms and the speed of the centralized trading options, BBOD with its Hybrid Virtual Currency Trading options will enable traders to not only minimize risk but also to make maximum profit in digital currency trading.
Hypbrid Exchange: A Dream Come True
Chris Urbanovicz expressed his joy while talking about the development. He was quoted saying:
“I am so filled with happiness and gratitude for everybody who worked with me to develop this trading platform,” He added that; “In 2011, nobody believed in my vision. Now, people all over the world trade on BBOD. It started as a dream, and it grew into a global movement. As we reflect on the past and move forward into the future, the team and I have made it our personal mission to continuously develop the platform. We’re constantly testing it, improving it, and looking for new ways to make it better each day. This is our journey. Through bold innovation and relentless perseverance, BBOD will continue to flourish as a platform, a team, and a community.”
The Blockchain Boards of Derivative’s revolutionary initiative of decentralized custody, leverage trading, and high speed signifies a new era in the cryptocurrency trading community. Also, it further endorses that with the right team, a compelling vision, and a whole lot of hard work, just about anything is achievable.
Hirander Misra, the CEO of GMEX Group and Chairman GMEX Technologies commented that “We are delighted that BBOD are now live with our latest GMEX Fusion Technology Suite encompassing an exchange trading platform, with full crypto asset support and blockchain integration, to trade Ethereum based derivatives with a combination of ultra-fast order matching, security of funds and full facilitation of margin trading.” He added, “We are looking forward to continuing our work with BBOD to continue to enhance their unique cryptocurrency derivatives Exchange.”