Why Bcnex — A Remarkable Blockchain trading platform from Asia?

6 min readJun 27, 2019

In the last 4 months, the blockchain and cryrtocurrencies industry have witnessed a strong rise of a blockchain trading platform from Vietnam — Bcnex. Possessing impressive advantages such as extremely fast processing speed, high security and safety and customer centric approach, Bcnex is surely going to be a blockchain trading platform that traders cannot be ignored in the near future.

Bcnex is a completely new solution in cryptocurrency exchange. Bcnex is a world blockchain trading platform that has a whole range of services for buying, selling and exchanging crypto-currencies as well as crypto-assets.

Creating a quality blockchain trading platform is a challenging work that requires a strong team. So firsly, let’s take a look at Bcnex core team:

Mr. Ngo Hoang Quyen — Co-Founder and CEO of Bcnex is a professional investor with experiences in both financial services and blockchain technology. He is a expert in technology research and system design. He is the founder of Bytecoin Foundation Vietnam.

Mr. Vo Tuan An — Co-Founder and CFO of Bcnex holds an MBA at Leeds Beckett College in Leeds and has worked for leading financial firms in the UK and Vietnam.

Mr. Pham Van Phuong — Co-Founder and CTO of Bcnex is famous for his expertise of mobile gaming project, automated order matching systems, wallet and e-money solutions in particular, and blockchain in general. Moreover, he has many years of experience in building and developing large load-bearing systems and real-time and big data processing.

In conclusion, three founders of Bcnex are those who have extensive experiences in technology of blockchain and exchange as well as deep financial knowledge. Ther form a solid foundation for the Bcnex team to create a product with real value.

Next, Let’s discover some reasons why Bcnex was born, that are issues of existing blockchain trading platforms on the market today.

1 / Issues of existing blockchain trading platform:

1.1. Issue of Technical base: To build a quality trading system, it takes a lot of time and resources, it requires a team of engineers with finance and trading platform knowledge. Some exchanges have chosen to save costs and time to build their system and launch the products faster. Obviously, the problem will appear when traffic increases, overload is inevitable.

1.2. Issue of Security: Hundreds of cryptocurrency exchanges must be closed each year due to hackers’ intrusion as well as fraudulent scams taking up user properties.

1.3. Issue of Liquidity: Most of the existing blockchain trading platforms do not meet the high liquidity because there are not enough buy and sell transactions, leading to strong slippage and financial losses for the Investors.

1.4. Issue of Customer-care service: Customer-care service is being underestimated by some trading platforms. Some studies have shown that when customers suddenly encounter problems or get delayed assistance, they will quietly leave the platform instead of contacting for help. Customer trust on exchanges’ supporting team is quite low now.

2 / Bcnex’s solutions

2.1. Solutions for Technical Base:

BCOMS — Bcnex Order Matching System: is responsible for connecting buy and sell orders of the trading system. BCOMS has very low latency and flexible scalability, which can handle 2,000,000 transactions per second. This number makes Bcnex one of the fastest trading platforms on the market today.
High stability distributed system: Bcnex is set up on a distributed model so it is easy to expand by adding new nodes when traffic and number of transactions increase. Besides, the microservices architecture helps them to change and expand easily without affecting the entire system.

2.2. Solutions for safety and security

- Multi-layer security system: Bcnex builds firewalls and service rejection tools (DDOS) as well as warns users when unusual events occur. Important requirements will require 2FA authentication and Anti-phishing code. KYC process is also an indispensable requirement for new users.

Besides, Bcnex has an optimal wallet solution that combining the hot wallets, cold wallets and security hardware to keep properties safe. The majority of digital assets are stored in cold wallet separated from the Internet, the rest is in hot wallets to quickly meet user withdrawal demand.

2.3. Solution for liquidity: In order to increase liquidity for the floor, Bcnex did 2 things: building a legal trading floor for high-liquidity coin and token, building a deposit trading floor where BCNX is the main asset.

2.4. Solution for Customer Care Service: Customer experience is Bcnex’s top priority, so their entire team is trained to respond quickly, professionally as well as solve the problem thoughtfully for customers.

3 / Some other features and services of Bcnex:

- Support multiple coins / tokens with strong liquidity as well as some fiat currenccies in the future.

Special discount for customers paying by Bcnex — up to 75%.

Customers can use Bcnex on many devices

Support many common languages

4 / ICO overview

Only 200,000,000 BCNX were created during the ICO, the number will never increase.

After each quarter, 20% of profit will be used to burn BCNX until the total supply in the market is only 100,000,000.

If the ICO ends when the project collect enough 30,000,000 USD, the remain token will be burned.

Allocation of Token

BCNX tokens will be allocated as follow:

50% (100,000,000) will be for public sale

38% (76,000,000) will be allocated to Bcnex team members and advisors

5% (10,000,000) will be sold to angel investors

2% (4,000,000) will be used for bounty campaign

Token Distribution

Tokens allocated to the development team will be vested for 4 years, at 25% per year.

5/ Project Roadmap

6/ Investors and Advisors

Bcnex are invested and advised by some experts in the cryptocurrencies market who see potential of the project.

Bcnex owns some bright points which do not exist in any recent blockchain trading platform, such as low transaction fees (even free), low withdrawal fees, extremely convenient user experience, great supporting team. Bcnex is an interesting project with an experienced team in finance and engineering, a result and efficency-oriented guideline as well as customer-centric approach. In my opinion, users should give Bcnex a try to enjoy their benefits, investors should not miss the opportunity to invest in BCNX — the token’s value will certainly increase in near future.

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