Introducing CryptoBridge: A Decentralized Exchange Owned by BridgeCoin Holders
CryptoBridge is a decentralized exchange utilizing a high performance scalable blockchain. 50% of all profits from the decentralized exchange are distributed to BridgeCoin owners. BridgeCoin is a scrypt-compatible coin that was created in July 2017 in order to finance the development of the decentralized exchange. You can start using the beta MVP version of the decentralized exchange now at https://wallet.crypto-bridge.org/
CryptoBridge supports trading of most popular altcoins. The main innovation is elimination of a single point of failure when trading cryptocurrencies online due to its decentralized nature and the use of a multi-signature federated gateway software used by a dozen trusted gateways, operating on multiple continents, enabling trust-reduced issuing and withdrawing of the supported coins.
CryptoBridge’s target audience are altcoin traders trading on centralized cryptocurrency exchanges which are riddled with performance problems and can be subject to thefts, manipulation, hacking incidents or government takedowns. These problems are solved by the decentralized blockchain based order book and the multi-signature federated gateway network.
There is no central point of failure. All deposits, withdrawals and all order books are transparently stored on the blockchain. The client will still be able to deposit, withdraw and trade coins even in the event CryptoBridge goes out of business. Each client holds the private keys to their coins. CryptoBridge has no access to the client’s funds.
The blockchain behind the decentralized exchange, graphene, can process up to 100,000 transactions per second and has an average confirmation time of just 3 seconds.
In our next post we will discuss our funding model and why we decided to not take the ICO path.