COSS.IO October 10th updates
- APIs
- Credit cards
- Other news
- Promos
Henry, our Head of Technology has taken time out of his (VERY busy) schedule to give an update on APIs.
COSS 2.0 will be a completely new world-class exchange. The core of any exchange is the matching engine. We’ve created a world-leading matching engine; we’re talking sub-microsecond order matching. That’s less than 1,000,000th of a second! So we can process over 1,000,000 orders per second on a server with a 2.2 GHz CPU. We can scale by applying a single matching engine per pair, therefore with ( example) 70 pairs, we’re talking a potential 70 million orders per second!
To be sure both manual click traders and API users do not impact each other, we will have separate order gateways for each.
Our current exchange will not handle these loads, hence our API will be launched in phases; our external beta testers have been passed the Beta Swagger Specifications. We will be using the data generated from these external testers to set our messaging rates.
Our main focus has been the construction of COSS 2.0, and the API is a core component of this.
Applications developed using the COSS 1.0 API will be compatible with our API for Coss 2.0.
Security is of paramount importance for our REST API; we are using SHA-Based HMACs over HTTPS, to verify both the data integrity and the authentication of the messages.
We require a 256 bit Secure Hash Algorithm (SHA-256) signature to be sent in the message header. More details and examples will be available in the API section of the website when we’re live.
Here’s a sneak peek of the API:
As most of you would have noticed by now, Credit cards have been implemented for EUR and GBP on our exchange. Our team worked through the night to implement them and we are glad to see that trades are going through for some of those pairs.
Withdrawals are being worked on now; we expect it to be enabled in around a month or so.
Do note that if you have made a credit card deposit, withdrawals will go to the same card that you deposited with.
However, if you make an EUR/GBP withdrawal without having made any prior deposits, you will need to activate your credit card by linking it to your COSS account. Activation fee will be 1 EUR/GBP.(no need for activation if the card already has been used for regular deposit.)
Deposit:
Minimum deposit : 25 EUR/GBPMaximum deposit: 10,000 EUR/GBp
Deposit fee: 8%Withdrawal:
Minimum withdrawal: 50 EUR/GBPMaximum withdrawal 10,000 EUR/GBP
Withdrawal fee: 5 EUR/GBP
COSS has had zero transaction records with Visa/Mastercard, and these providers view crypto as a high-risk sector, which explains the initial 8% fee. However, once we have about four to six months of transaction history behind us with low charge-backs ratio, these fees can be renegotiated and revised. Maximum deposits and withdrawals will also be increased once we have a positive transaction history.
In addition, we are also exploring additional providers; that means more payment options for you in the future.
In other news, our colleagues over at Bittwatt are letting their users pay their electricity bills with cryptocurrency, which is a good example of a real world use case for cryptocurrency.
They already have partnerships with companies from Romania, Bulgaria, Hungary, Serbia & Macedonia. And they are working around the clock to extend their services as wide as possible. With the BWT token you don’t just make the whole process simpler but you also get a rebate of 10% from your bill value!
Since their current market is mostly in Europe we are happy to announce that we also will add BWT/EUR trading pair so all the users from Europe easily can load their COSS account with their credit cards and purchase BWT.
Visit the BITTWATT website for more info.
BITTWATT will also be one of the corporations that implement trading API from COSS so users can buy BWT direct from the BWT app.
Our current trading promos:
Persona Identity Management Decentralized Solution :: PersonaIM
Edit descriptionpersona.im
About Us : COSS stands for Crypto-One-Stop-Solution and represents a platform, which encompasses all features of a digital economical system based on cryptocurrency. The COSS system consists of a payment gateway / POS, an exchange, a merchant list, market cap rankings, a marketplace, an e-wallet, various coin facilities and a mobile platform. The COSS platform unifies all transactional aspects that are usually managed by means of FIAT money, and offers multiple cryptocurrency-related services in one place. The list of potential features of the platform can be infinitely extended, and will continue growing as the platform evolves.
Join in the community at our various channels :
- Telegram Announcement Channel : https://t.me/COSSchat
- Telegram General Discussion Channel https://t.me/myCOSS
- Chinese telegram: https://t.me/myCOSSchinese
- Facebook : https://www.facebook.com/cosscrypto/
- Twitter : https://twitter.com/cosscrypto?lang=en
- Reddit : https://www.reddit.com/r/CossIO/
- YouTube : https://goo.gl/hd6tBg
