A major announcement was made late last night when Banx Capital announced they are joining the BitShares Exchange Network later this summer. This move brings a lot of advantages for both parties, as Banx Capital can cut down costs and expand their variety of services while BitShares Exchange Network gains a reputable partner.
Banx Capital – A Portfolio of Cryptocurrency Businesses
The name Banx Capital is synonymous with a variety of cryptocurrency services, ranging from a news outlet to a mining company, and even their cryptocurrency exchange BANX.IO. But there is much more to Banx Capital than just that, as their enterprises span the entire digital currency industry.
In order to bring Banx Capital to the forefront of the cryptocurrency world, the company’s shares- called BanxShares – were put up for sale on their exchange platform. And those shares have seen some great interest from investors from all over the world, pushing BanxShares into the top 10 on CoinMarketCap.
“I’ve been watching BitShares for over a year now. But when I got a preview of what Cryptonomex.com had in store with BitShares 2.0 I knew I had to move fast. As a result of some pretty aggressive negotiations, both BanxShares and Banx.io will upgrade simultaneously when BitShares 2.0 launches this summer. I consider that a bit of a personal coup.” – Banx CEO Mark Lyford told the media.
The BitShares 2.0 Revolution
BitShares 2.0 has all the necessary tools to create a new revolution in the digital currency space. Current exchanges have been clawing at the walls in frustration due to their limitations. Furthermore, given the negative mainstream media attention concerning Bitcoin exchanges, the general public is slowly losing faith and trust in these platforms.
One of the major concerns regarding Bitcoin exchanges is whether or not they are solvent, and can safeguard user funds. Creating a fully secured platform is nearly impossible, despite best efforts from developers all over the world. Exchanges are the weak link in the armour that is cryptocurrency, and it could have dramatic consequences if things don’t get fixed in the near future.
“BitShares has been claiming that they have solved these problems by offering a decentralized exchange on a blockchain since last summer. Incorruptible. Unhackable. Transparent. That’s all quite impressive, but it just made them another one of my worries as a future competitor.” – Banx CEO Mark Lyford continues.
BitShares 2.0 features one major upgrade, as their goal is to upgrade to an industrial strength platform to handle every transaction in the whole cryptocurrency industry. But that is not all, as BitShares 2.0 claims they will be able to host everything credit card issuer Visa is doing, as well. It goes without saying this project will require tons of bandwidth, especially considering the transactions will be verified within 1 second, rather than waiting 1 hour.
“By wielding this type of bandwidth, they – BitShares 2.0 – are offering their “Smartchain” as a safe, level playing field for use by the whole industry. It can serve as a backbone network to all the exchanges as a way for them to trade with and against each other. Instead of keeping their order books in a dark, closed, isolated, hackable stovepipe, they can put them all out there in the transparent open where all their combined customers can trade against all their combined assets!” – Banx CEO Mark Lyford said with a beaming smile.
By using the untapped potential of shared order books, there will be an opportunity for deeper markets, with tighter spreads, and more importantly, much-improved liquidity. But the best part comes in the form of user security, as there is no way to hack the system because customers keep their keys while trading on this new network. And even those customers can’t get hacked thanks to BitShares’ hierarchical multi-signature capabilities.
“The key is what all customers will be demanding a year from now, once they get a taste of the new levels of transparency and safety, and the quality and variety of services our networked exchanges can offer together. Banx.io along with CCEDK, Bit-X, Cryptonomex.com (and maybe a few more) are just the network’s Founding Members. We expect a lot of smaller exchanges to use this as a way to become big exchanges in the coming year.” – Banx CEO Mark Lyford concluded.
Source: Press Advantage
Images courtesy of Banx Capital, BitShares Shutterstk