announced today that it would be joining the BitShares Exchange Network when version 2.0 is released later this summer.
Since the end of 2013, Banx has been launching a portfolio of cryptocurrency businesses including a crypto currency exchange, mining company, trading company, physical coin company and a half dozen other enterprises intended to span the industry.
This is an exciting example of two new megatrends that will change the landscape of the Crypto industry this year:MEGATREND 1. Coins Upgrading to Shared Industrial Grade Networks.
BanxShares is the first Top Ten crypto currency on coinmarketcap to recognize it is not stuck with ancient 2014 technology. Just because it was launched as an isolated stove-pipe blockchain doesn't mean that it is forever locked into the old model where it must cover its own blockchain's maintenance and operating costs and attract its own network effect, exchange listings, and community. By snapshotting itself as a User Issued Asset (UIA) on the BitShares Exchange network, all those headaches go away. It will still be an independent top ten coin on the world stage, but beneath the surface it will now be powered by BitShares 2.0.
Yep. Why license BitShare's awesome new technology when you can move onto the BitShares network itself for a small one time fee? BanxShares will instantly gain 1 second transaction times and all the other benefits of industrial grade performance - on the same day as BitShares upgrades itself. MEGATREND 2. Exchanges Upgrading to Shared Industrial Grade Networks.
BANX.io is an innovative exchange that specializes in trading the shares of other startup businesses, including its own shares. By moving onto the BitShares Exchange Network BANX.io instantly gains access to other members' products and services such as the fiat on/off ramps and globally welcomed Nanocard provided by CCEDK and Bit-X. Its customers can trade with the combined customers and assets brought to the network by all other member exchanges. And, thanks to the BitShares referral program, BANX.io still collects its share of the network-wide transaction fees paid by every customer it brings to the table.
“Some of the biggest digital currency exchanges have been hacked and the rest are looking over their shoulders” says Banx Capital CEO and Founder Mark Lyford, “BitShares are offering their Smartchain as a safe, level playing field for use by the whole industry. It can serve as backbone network to all the exchanges as a way for them to trade with and against each other. With shared order books we will have deeper markets, tighter spreads, and greater liquidity. And since our customers keep their own keys while trading on this network, combined with hierarchical multi-sig capabilities we can’t get hacked - and our customers can’t get hacked.”
Welcome aboard Banx!