BitShares Viewed as an Inter-Exchange Network

[mike623317]

... they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

+5% +5% I can absolutely see smaller exchanges doing this. Security and others costs would be eliminated overnight. Why wouldn't you do this is the question.

This just keeps getting better and better.

Very good.  We describe this as "an exchange in a box".  Everything you need to become an exchange and interact with other exchanges.  So instantly, overnight, you can become a contender.  Then focus on what unique demographics and innovative services you can bring to the BitShares Exchange Network.

Who will be next?

That'll be me Stan

[cylonmaker2053]

After bts launch 1 year, still no business partner, nothing change.

Well, "History is gonna change!"

CCEDK to Publish its Order Book on the BitShares Blockchain

+5% +5% +5%

[Stan]

... they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

+5% +5% I can absolutely see smaller exchanges doing this. Security and others costs would be eliminated overnight. Why wouldn't you do this is the question.

This just keeps getting better and better.

Very good.  We describe this as "an exchange in a box".  Everything you need to become an exchange and interact with other exchanges.  So instantly, overnight, you can become a contender.  Then focus on what unique demographics and innovative services you can bring to the BitShares Exchange Network.

This should have a big multiplying factor because new entrepreneurs are immediately putting their energy toward advancing the services available to the network rather than re-inventing the wheel.

BitShares 2.0 has just blown away all barriers to entry - so you should see a much faster rate of growth and innovation among BitShares Exchange Network Members. 

Who will be next to join?

[mike623317]

... they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

+5% +5% I can absolutely see smaller exchanges doing this. Security and others costs would be eliminated overnight. Why wouldn't you do this is the question.

This just keeps getting better and better.

[rgcrypto]

network effect here we come

[sudo]

awesome

[topcandle]

Smells like a similar resurrection of Buttercoin.

[bytemaster]

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)

Yes, but exchanges can already handle all that stuff internally. There must be something else there besides all the marginal points about security and development time - you can imagine that exchanges are heavily invested in their legacy architectures, both in terms of man hours and the level of control it affords them.

They also have recurring costs and support costs. 

[monsterer]

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)

Yes, but exchanges can already handle all that stuff internally. There must be something else there besides all the marginal points about security and development time - you can imagine that exchanges are heavily invested in their legacy architectures, both in terms of man hours and the level of control it affords them.

[BunkerChainLabs-DataSecurityNode]

This means an end to 'getting goxed'.

Every investor in the crypto space when they realize this, are going to pee themselves a little.

[Method-X]

What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)

And you can darstically reduce costs
for severs, development, maintanance, security stuff .. audits ...

+5% This. Security in particular.

[xeroc]

What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)

And you can darstically reduce costs
for severs, development, maintanance, security stuff .. audits ...

[btswildpig]

What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?

you can set fees for your IOU (trading , transfer fee  , in the form of IOU)

[monsterer]

What is the benefit for an exchange to drop all their legacy technology in favour of becoming a gateway? Where do they earn revenue in this new model?

[xeroc]

+5% !! Nice elevator pitch for the bitshares tech

[Stan]

After bts launch 1 year, still no business partner, nothing change.

Well, "History is gonna change!"

CCEDK to Publish its Order Book on the BitShares Blockchain

[cgafeng]

After bts launch 1 year, still no business partner, nothing change.

Could you pls elaborate your statement?

BTS system just a tool, if nobody use it, then it's useless, no matter how much it can do.

[cass]

After bts launch 1 year, still no business partner, nothing change.

Could you pls elaborate your statement?

[cgafeng]

After bts launch 1 year, still no business partner, nothing change.

[Tuck Fheman]

Sounds great. I'm eager to see the if the medium exchanges share your optimism with this approach.

It could be great for them, but do they want it?

Freedom's great for everyone, but not everyone wants it. In fact, the majority appear to enjoy some form of ... bah, I'll leave that for another thread.

[BunkerChainLabs-DataSecurityNode]

This is awesome!!

This is a huge game changer!

I am looking forward to part two!

+5%

[sumantso]

Will these exchanges be telling their customers to pay extra for deposit to take into account the lopsided nature of BitAssets 2.0?

[Stan]

Now that you've had time to absorb all the cool new features in BitShares 2.0, its time to start unveiling some of the implications about what is possible.

In this post, I'll lay out one of them.

The BitShares blockchain can serve as a backbone
to support live trading between traditional exchanges. 

That's right, while we have been thinking of BitShares as a stand-alone exchange, imagine how traditional exchanges could choose to view it:
Now, instead of having separate shallow markets inside their own stovepipe order books, they can use BitShares to enable all their customers to trade all their assets with the customers and assets of other exchanges.  Small exchanges can band together to attract medium exchanges to join them to compete with still bigger exchanges.  Like a rolling stone.

This greatly expands the network effect, liquidity and market depth of all participants.  A bigger pie for everyone.

And with our new referral system,  every participating exchange keeps their own profits from signing up their own customers and issuing their own assets.

We have the perfect way for them to safely compete and cooperate on a single, compelling, transparent exchange network.

The BitShares Exchange Network.

So, exchanges can do more than just serve as gateways and bridges.
They can publish their own order books transparently on our blockchain.

So everyone can KNOW that they are honest and solvent.

And every customer holds the keys to their own assets, fully decentralized where they won't be such juicy targets for hackers.
With easy to use multi-sig accounts to make those decentralized accounts even more secure.

BitShares 2.0 has the industrial strength to handle the workload of all crypto exchanges combined.
It is the perfect application to serve as an inter exchange networking back bone.
(Almost like we planned it that way.)

This is just one of the huge new markets that Cryptonomex is working to capture.

And it is called the BitShares Exchange Network for a reason.  :)