AbacasXchange Review
The AbacasXchange is a new system for the registry and peer-to-peer exchange of tokens, mosaics andless liquid cryptocurrencies through highly liquid cryptocurrencies and asset tokens known as GatewayAssets (BTC, ETH, XEM, etc.)
There is a continuum of new block chain service providers being announced and funded through theformation of new crypto-currencies as a method of payment for the services and infrastructure provided. The creation of the ERC20 & Mosaic Token Standards provides a means for any asset owner to register and tokenize their assets, and record the balance and transfer of any portion of that assetthrough a distributed public ledger on the blockchain.
The Abacas Protocol is an encoded open workflow that enforces a rigid set of policies on cryptographic assets to in-sure the proof of identity, proof of asset, price discovery, order entry and fulfilment, matched transaction processing,asset servicing, life-cycle management and value transfer to/from each party of the trade.
Highly liquid digital currencies including BTC and ETH are gaining acceptance as a method of payment in lieu of fiat currencies.
The Abacas Exchange exists to provide a medium for the exchange of marketable assets (base assets) that can be placed into custody and represented via a digital asset token.
Assets that can be tokenized include traditional assets (Currency, Stocks, Precious Metals), crypto-currencies (BTC, ETH) and many non-traditional assets.
The Abacas Exchange is unique in that only digital asset tokens may be traded. The tokenized asset is held in custody outside of the exchange and the custodial account is managed by an independent trust.
Using Gateway Assets, the AbacasXchange forms liquidity chains between three or more assets to connect and form a price between two assets that may not exist otherwise. The Liquidity Chains that are formed provide greater opportunities for buyers and sellers to connect ondisparate assets, but this can only exist on an exchange that insures the integrity of the process and as-sets of the exchange.
The AbacasXchange enforces the integrity of assets traded through a set of rules and procedures knownas the Abacas Protocol. The Abacas Protocol provides for user identity; asset proof of existence, proofof provenance and proof of authenticity; custody and trust of the underlying asset of a digital token; lowlatency price discovery; low friction order entry; smart order linkage for cross-asset liquidity; integratedblock chain services for open and distributed workflow processing and value transfer over multiple dis-tributed ledgers.
All transactions on AbacasXchange are posted on a public ledger and can be viewed by anyone. Nowadays, trading is mostly binary. You can choose to receive only EUR or only USD or only something else in exchange for the stock you are selling. AbacasXchange improves liquidity by Direct and Indirect trading. The AbacasXchange “safety deposit box” provides a decentralized secure backup for your private keys.
The ABCS readily conveys between all of the chains mitigating the cost and nuisance of the micropayments as it relates to the activity in the AbacasXchange.
The asset to be purchased is exchanged simultaneously for an asset in the buyer’s wallet or account. This means that clearing and settling an internal trade takes seconds not days.
With ABCS, two or more clients can exchange assets of any type in direct transactions.
Any two Abacas Asset tokens may be traded on the exchange. When orders are matched, the transactions are recorded and the Abacas ledger balance updated to reflect the change in ownership. An Abacas tokenized asset is identified by a unique Abacas Token ID within the exchange.
The Abacas Token ID links to meta-data defining the specifics about the base asset on account with the custodian, custodial information including provenance, and the specific rules of the Abacas Protocol that apply to this token and the underlying asset.
An Abacas Tokenized Asset that is held in custody of a registered trust of the Abacas Exchange and fully supports all aspects of the Abacas Protocol is identified as “Fulfilled by Abacas”.
The Abacas Exchange is a cloud-based system providing access via web browsers and mobile applications. There are three primary users of the Exchange (Client/Investor, Trust/Oversight, Operations/Admin). If the token is available for trading, it can be exchanged at anytime and anywhere globally.
Each asset added to the AbacasXchange is registered with an asset code and metadata that cate-gorizes the asset and establishes information about the asset including how the asset’s proof of ex-istence, proof of authenticity and proof of provenance are certified.
Each exchange user is identified uniquely and verified through Know-Your-Client verification.Additionally, metadata is stored on each user to classify them in terms of nationality, geographiclocation, etc.
The Abacas Exchange provides APIs over Https/Web Sockets as well as integration with blockchains both for value transfer, record keeping (Abacas Distributed Ledger) and blockchain service providers (AML/KYC).
The AbacasXchange utilizes four primary technology tiers: 1)Web Client 2)Service Engines 3)Workflow Orchestration 4)Database
PlatformEthereum
CountryUnited States
Restricted Countries United States
Total Tokens100,000,000
Initial Token Price$1.0000
Funds in Escrow?No
Accepted Currencies BTC, ETH
Website: www.token.abacasexchange.com
Whitepaper: https://abacasexchange.com/wp-content/uploads/The-Abacas-Protocol-Dec-2017-WP-VLSMV-v1.3.pdf
"This article was created in exchange for a potential token reward through Bounty0x"
