What is the BTCC DAX Platform?

TheMerkle BTCC DAXCryptocurrency exchanges are always looking to gain a competitive edge. In the case of BTCC, one of China’s major Bitcoin exchanges, branching out to a new platform seems to be the right way to go. The company recently launched their BTCC DAX platform, which serves as a full-fledged cryptocurrency exchange. The first trading pair on this platform is ETC/BTC, which caught some people by surprise. A Closer Look at the BTCC DAX Platform It is always quite interesting to see how cryptocurrency exchanges operate. More specifically, a lot of exchanges support fiat currencies, whereas others may not necessarily do so.

TheMerkle BTCC DAX

Cryptocurrency exchanges are always looking to gain a competitive edge. In the case of BTCC, one of China’s major Bitcoin exchanges, branching out to a new platform seems to be the right way to go. The company recently launched their BTCC DAX platform, which serves as a full-fledged cryptocurrency exchange. The first trading pair on this platform is ETC/BTC, which caught some people by surprise.

A Closer Look at the BTCC DAX Platform

It is always quite interesting to see how cryptocurrency exchanges operate. More specifically, a lot of exchanges support fiat currencies, whereas others may not necessarily do so. This is quite an interesting development, although supporting fiat currencies would require specific licenses in most countries. Launching a pure cryptocurrency exchange can be subject to some laxer regulatory requirements.

However, a lot of companies try to do both at the same time. BTCC is doing exactly that by launching their new DAX platform. This news caught a lot of people by surprise, though, as it was not something the market anticipated at this time. Then again, the Chinese company saw a market opportunity and plans to take full advantage of it moving forward. That said, the BTCC DAX platform will be well worth keeping an eye on, that much is evident.

What this platform will do is allow users focus on trading cryptocurrencies only. There will be no fiat currency support for the time being, although the regular BTCC platform will continue to support fiat currencies without any issues. It is also worth mentioning the number of trading pairs on BTCC DAX will be fairly limited for the time being. As of right, there is only the ETC/BTC pair, which is another surprise by the BTCC team.

A lot of people had expected this platform to launch Ethereum trading from day one. Given Ethereum’s popularity in China, that would make a lot of sense. Then again, BTXX DAX feels Ethereum Classic has a better chance to generate initial volume for this new platform. Considering how the Ethereum price has fallen spectacularly in recent days, this could be the right choice in the end. It is always possible ETH/BTC trading will be added to the platform in the future, though.

It is also worth noting the BTCC DAX platform is fully supported by the BTCC customer service team. Traders can contact support around the clock and they will be aided as soon as possible. The goal is to respond to open tickets within twelve hours, although your mileage may vary based on how popular the platform becomes over time. New clients will need to go through an onboarding process, albeit it seems this should take a few minutes to complete.

In the end, it is good to see new platforms such as BTCC DAX come to fruition. There is a growing need for popular cryptocurrency trading solutions. Altcoin exchanges such as Bittrex and Poloniex will always be popular, but BTCC DAX may prove to bring some very stiff competition to the market in the coming months. It will be interesting to see how popular the platform becomes, as trading goes live later today. It may also provide a significant boost to the Ethereum Classic price across exchanges around the world.

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What is the InterPlanetary File System?

TheMerkle IPFS Decentralized File StorageIn the world of blockchain and cryptocurrency, decentralization is key. This often leads to some new and exciting innovations, to say the least. The Interplanetary File System is one of those innovations which more people should pay attention to. Now is a good time to take a closer look at what IPFS has to offer and how it will shape the future of our society. The Interplanetary File System Embraces Decentralized File Storage and Sharing It is quite interesting to see how many projects are working on decentralized file storage and sharing right now. We have recently highlighted a few

TheMerkle IPFS Decentralized File Storage

In the world of blockchain and cryptocurrency, decentralization is key. This often leads to some new and exciting innovations, to say the least. The Interplanetary File System is one of those innovations which more people should pay attention to. Now is a good time to take a closer look at what IPFS has to offer and how it will shape the future of our society.

The Interplanetary File System Embraces Decentralized File Storage and Sharing

It is quite interesting to see how many projects are working on decentralized file storage and sharing right now. We have recently highlighted a few of those projects, including Storj and Sia. However, one of the first initiatives to fully embrace this concept goes by the name of the InterPlanetary File System, also known as IPFS. This protocol is established on top of the Bitcoin blockchain.

However, when the project was officially launched back in 2016, the InterPlanetary File System embraced the Ethereum blockchain rather than Bitcoin’s. The reasoning behind this decision was due to Ethereum supporting innovative features, whereas Bitcoin did not at that time. Considering how the Ethereum blockchain has been hit with congestion issues lately, it remains to be seen if that was a wise decision, though.

More specifically, IPFS makes use of this peer-to-peer technology to create a permanent solution for sharing and storing files in a decentralized manner. Similar to cryptocurrency ecosystems, IPFS uses network nodes to effectively distribute the files stored in the protocol. It also ensures no one node is storing all of the data, removing any central point of failure the network may provide otherwise. IPFS is an open source project, which can be found on GitHub.

Having a viable solution to store files in a decentralized manner and not having to worry about data being altered is quite invaluable. Moreover, the InterPlanetary File System is capable of removing duplicated files across the network. Various implementations of this technology exist, such as the Go and JavaScript versions. There is also a Python implementation, although it is still a work in progress at this time.

In a perfect scenario, IPFS will connect all computing devices around the world by using the same system of files. One could argue this technology can create a decentralized Internet, although that is not entirely true. At best, IPFS can provide a storage model and content-addressed hyperlinks, but it would not be a fully functional internet by any means. It is a filesystem first and foremost, although its real life applications can always be expanded upon moving forward.

Earlier this year, the IPFS developers made a rather surprising announcement. It is believed they are working on a way to integrate blockchain applications moving forward. More specifically, the goal is to link blockchain data between different ecosystems. It would effectively serve as a bridge to connect all existing blockchains in existence today. The team hinted at connecting the Ethereum and ZCash blockchains at some point, albeit other connections can be made with relative ease as well.

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