Kyber Network exchange opens up for a public beta

Kyber Network opens its doors for the general public in an open beta release of their new decentralized exchang
20 March 2018   708

While the legislate efforts of various governments are quite heavily restricting the development of cryptocurrency market, one of the main inside hurdles to overcome is the centralized nature of the exchanges. The whole concept of cryptocurrency as a decentralized digital asset is restricted by the nature of the current exchanges as the companies who are, first of all, concerned with their profits and, therefore, aim to keep funds firmly on their platforms.

Kyber Network aims to correct this with their new decentralized exchange. Their ICO was a huge success, raising over 200,000 ETH in the public event on September, 2017. and now, they are ready to present the results of their work in an open beta. Closed beta test has been conducted with a limited user access, to better fish out the bugs in a controlled environment. And yesterday, starting on March 19th 3PM (GMT+8), the open beta phase with a full access was presented to the public. The developers encourage users to activate their accounts and start trading.

The main pros of the Kyber Network exchange are complete liquidity in trading any tokens and securities and increased security. The latter is achieved by the company itself not holding to any of the users' crypto. Of course, there is a reserve vault of digital currencies to ensure the aforementioned liquidity, but it will be managed by the independent “reserve managers”, whose purpose is to provide support for the trading pairs. They wouldn't monopolize the pair, of course, when there is a request to trade a certain cryptocurrency or token to another one, the automated system will look for the best possible rates and finalize the deal based on this particular offer.

The Kyber Network is a next step to a true peer-to-peer crypto exchange that everyone has been waiting for, but it remains to be seen, whether or not they will be as successful in their operations, as in their ICO campaign

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   53

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.