Problem statement
Existing cryptocurrency exchanges lack advanced features such as margin trading and
derivatives, limiting options for sophisticated traders. The challenge is to develop a
comprehensive Advanced Cryptocurrency Exchange platform that incorporates these
features to meet the evolving needs of the crypto trading community.
Abstract
This project aims to enhance cryptocurrency trading by introducing an Advanced
Cryptocurrency Exchange platform. It incorporates advanced features like margin
trading, derivatives, and algorithmic trading to cater to seasoned investors and attract a
broader user base. The focus is on creating a secure and user-friendly platform aligned
with the dynamic crypto trading landscape.
Outcome
Create a cutting-edge cryptocurrency exchange allowing users to buy, sell, engage in
margin trading, use derivatives for diverse strategies, and automate trades with
algorithms. The outcome is a versatile platform providing advanced tools for users with
different trading goals and risk levels.
Reference
Inspired by Bitcoin, many different kinds of cryptocurrencies based on blockchain technology have turned up on the market. Due to the special structure of the blockchain, it has been deemed impossible to directly trade between traditional currencies and cryptocurrencies or between different types of cryptocurrencies. Generally, trading between different currencies is conducted through a centralized third-party platform. However, it has the problem of a single point of failure, which is vulnerable to attacks and thus affects the security of the transactions. In this paper, we propose a distributed cryptocurrency trading scheme to solve the problem of centralized exchanges, which can achieve secure trading between different types of cryptocurrencies. Our scheme is implemented with smart contracts on an Ethereum blockchain and deployed on an Ethereum test network. In addition to implementing transactions between individual users, our scheme also allows transactions among multiple users. The experimental result proves that the cost of our scheme is acceptable.
- S. Nakamoto, Bitcoin: A Peer-to-Peer Electronic Cash System, Apr. 2008, [online] Available: https://bitcoin.org/bitcoin.pdf.
- C. Lee, Litecoin, Apr. 2011, [online] Available: https://litecoin.org/.
- G. Wood, Ethereum: A Secure Decentralised Generalised Transaction Ledger EIP-150 REVISION (759dccd-2017-08-07) Ethereum Project Yellow Paper, Apr. 2017, [online] Available: https://ethereum.github.io/yellowpaper/paper.pdf.
https://ieeexplore.ieee.org/document/9478888/