Today, Blochchain.io, a soon to launch bitcoin and cryptocurrency exchange, first unveiled back in February 2018 from European company Paymium announced that its MVP is now accessible to selected early investors. Paymium was one of the first European platforms for buying and exchanging bitcoins for euros, in compliance with European regulations since 2013.
For those unaware, an MVP stands for Minimum Viable Product and allows early adopters to experience the initial offerings of a service or product. While testing begins on the MVP, several additional features are currently in development for the live launch later this year. These include:
- High-Performance Matching — a high availability and high scalability trade matching engine to sustain a deep orderbook.
- Basic & Advanced Orders — market, limit, stop loss, take profit and trailing stop orders as well as self-canceling and expiration orders.
- BCIO Design & UX — a complete redesign of both the basic interface and trading interface (shown below).
- BCIO Token Usages Features: fee payment with BCIO token, discounted trading, survey participation rights.
Supplementary advanced exchange features will be developed in 2019, including:
- Cross-chain Atomic Swaps Trading — a decentralized settlement option will allow traders to execute trade orders via cross-chain atomic swaps, leveraging a cryptographic protocol designed specifically for trading and addressing issues of prior protocols such as front-running and grieving.
- Periodic Auctions — transparent auctions several times a day to bootstrap new currency markets with an efficient price discovery mechanism.
- Proprietary & Peer-to-peer lending — traders borrow money from other platform users or from the Blockchain.io inventory for larger amounts (subject to regulatory approval).
- Short & Long Margin Trading — traders can borrow to open long or short positions — with or without leveraging — guaranteed with a security margin (subject to regulatory approval).
Below you can see a preview of the Blockchain.io MVP, note the additional features mentioned above which are currently under development.
Buy/Sell Screen – The following cryptocurrencies have been deployed on testnet: Bitcoin, Litecoin, Ether, and Ripple. Blockchain.io confirmes that more cryptos will be added for the launch, including Bitcoin Cash, the Blockchain.io token (BCIO) and other select ERC20 tokens.
An easy to use interface to buy and sell cryptocurrencies will be available for those who are new to trading cryptocurrencies. Users simply choose the cryptocurrency they wish to buy or sell along with the corresponding trading pair, which could be Bitcoin, Ether, or another cryptocurrency. From the buy/sell page, users will be able to directly create a market order without using the advanced trading interface. In case of a strong spread, a warning message will be displayed to confirm the order. Like the wallet page, the interface will be redesigned to display dozens of cryptocurrencies.
Trade Interface – For advanced users, a trading interface with standard trading figures and charts will be made available. The team reports that the matching engine has been working very well. For now, limit orders are available and market orders will be made available in time for the beta release with advanced orders to follow shortly thereafter.
By launch, the trading interface will be completely redesigned. Although, the plan is to have the same ease of use implemented for the MVP. Users will be able to make technical studies directly from the platform. The Blockchain.io team is also building a full, dynamic, and personalized interface, where users will be able to select and arrange each module displayed to build their own trading interface.
The Paymium team looks to have worked hard on the development over the past months, and the next step will be the beta release, before full live launch later this year. The company is also prepared to step outside of Europe. Last month, Blockchain.io announced its registration filing was accepted by the United States Securities and Exchange Commission (SEC).