Project Introduction #32: BDAM Provides A Multifunctional and Multi-layer-designed Hybrid Exchange

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The cryptocurrency industry which has recorded significant growth over the last few years was meant to replace the traditional financial system through the introduction of decentralization. It was also expected to bring a whole new dimension in creating value and given the potential this market sector has got, and it was hoped that that blockchain-powered cryptocurrencies would disrupt traditional payment processors and banking. However, when it comes to real-life usage, consumers regularly face the same problem: a place where the can use such cryptocurrencies or how can they easily convert the cryptocurrencies they hold into fiat currency?

A Multifunctional Hybrid Exchange that Combines the Advantages of Centralized and Decentralized Exchanges

Introducing BDAM Exchange, a multifunctional, multi-layer-designed hybrid exchange that combines the advantages of centralized and decentralized exchanges. It is first of a kind exchange that combines the feature of both centralized and decentralized exchanges that allows it to provide its users with features of both types of exchanges.

It combines existing technology and several blockchain networks to multi-layer blockchain hybrid structure, allowing it enhances its functionality, increased scalability, usability, interoperability and High-speed TPS.

While initially, it supports trading of crypto-assets only, it plans to increase its range of services to digital asset spot trading, CFD trading, and on-chain trading. Moreover, so as to enable a decentralized business model, it’ll issue BDAM tokens which are to be distributed and sold among the community, making the exchange a community-owned entity. Any growth of value in the exchange will be recorded and captured by tokens, helping appreciates its value. Thus, BDAM will become a community-based platform which will work together across all of its members and partners to make a worldwide one-stop platform for quality digital assets.

With BDAX, order book, matching, and settlement are entirely on-chain, It also supports sophisticated order types beyond market and limit. Furthermore, the EOSIO’s block confirmation time of about half a second allows for this sort of design, of a totally decentralized exchange. EOSIO has no transaction fees effectively setting the default withdrawal and trading costs to zero.

BDAM team has extensive experience in developing digital wallet systems and distributed architectures: designing, building, and deploying adjustable software and systems. Protecting assets and data is the most important job for the BDAM Development team. All client fund withdrawals go through BDAM’s in-house developed, proprietary compliance system to ensure that funds are never lost or stolen. Indeed, all systems are carefully designed to ensure smooth uninterrupted operations without sacrificing any effect on the user experience.

Standout Features BDAMX Exchange

Liquidity, The BDAM team has developed the “Liquid system ”, which allows liquidity from all other major exchanges to be routed into BDAM so as to provide deep liquidity for those tokens selected to list on BDAM. At the same time, the BDAMX team created a new type of trading platform where BDAMX acts as the broker for other platforms, therefore reducing the time that an order sits waiting to be filled. BDAM Team believes that the combination of the Liquid system plus the broker model will result in tighter spreads and will create a better overall trading experience for all users

Notable features on BDAMX Exchange such as Built on EOS Since EOS is extremely fast, the trading is almost real-time, No KYC Anyone can trade without KYC, No deposit needed Users can trade directly without needing to deposit, Free in Beta No transaction fee in Beta, New trading pairs will be added constantly, A powerful number of transactions per second with the possibility of increasing this amount in times of overload Trade margin, Types of order in trading, Optimized UI/UX, Profits and bonuses for BDAM Token holders, Currency FIAT, Corporate/ Personal tokens supported, 24/7 Users Support, and High-Security Level.

BDAMX Exchange in Lightning Network

Through Lightning Network, BDAM is able to considerably limit theft risk. Indeed, by separating the activity of custody, the volume of funds kept by an exchange is drastically diminished. If the Exchange is attacked, client funds are not at risk.

Combined with BDAM’s front-running the proof algorithm, BDAM solves two major issues that plague cryptocurrency exchanges: transparency and security. By resolving these two significant problems, BDAM offers the community more than an essential tool, it testifies as proof that opacity, insecurity, and distrust are not inevitable consequences to crypto/fiat exchanges.

Conclusion

The Blockchain offers simple solutions to attain equivalent levels of transparency and security as with a completely decentralized exchange that doesn’t support fiat or cross-chain. The BDAM project is great to follow! They believe all centralized exchanges will eventually use these tools because there will be no longevity without trust.

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