Securities exchange market under blockchain

1. Similar to the stock exchange, blockchain exchange is the website platform for digital currency trading. Xrv522 can develop blockchain exchanges. These trading platforms generally only provide functions such as recharge, transfer and cash withdrawal. In other words, they will only tell you the collection address of your wallet, while the key, keysore and mnemonic words of your wallet will not be provided. Identity authentication is completed through login user name, password, verification email, mobile phone and other ways
(1) introction to price limit trading mode:
price limit buying / selling refers to that the user sets the price and quantity of a buying / selling currency to generate an order. The system will automatically match the buying and selling orders in the market. Once the price set by the user is reached, the transaction will be automatically executed according to the price priority time priority
(2) introction to market price transaction mode:
market price purchase refers to that the user sets a total amount and generates a commission order, from the beginning of selling to the completion of the total amount transaction. Selling at market price means that the user sets the total number of currencies to be sold, generates a commission document, and matches it from the beginning of buying to the completion of the total number of currencies transaction
(3) introction to currency transaction mode:
currency transaction is mainly aimed at the transaction between virtual digital assets and virtual digital assets, in which one currency is used as the pricing unit to purchase other currencies, and the currency transaction rule is also to complete matching transaction according to price priority and time priority< (4) introction of C2C transaction mode:
both parties of the transaction release the transaction information of buying or selling currency on the C2C transaction platform according to the demand. The buyer and the seller complete the transaction offline according to the agreed payment method, and the platform, as an intermediary, charges a certain proportion of the handling fee from each successful transaction< (5) introction to OTC OTC trading mode:
it is a set of platform for offline purchase of digital currency independent of the exchange. Businesses can publish purchase / sale advertisements on the platform, and purchase / sale users can purchase / sell through offline transfer. After the transfer, the platform will transfer the frozen digital currency to the buyer, The technical construction problems of the exchange can be found on the Internet
(6) introction to trading mining mode:
the exchange platform returns a certain proportion of the commission income to the platform users, and the platform coin is returned. According to the principle of distribution proportion, the exchange platform takes a certain proportion as the mining reward. Mining refers to trading on the platform to graally unlock the platform coin until all the platform coins are fed back. This kind of play has a strong attraction to attract users< (7) introction to futures / contract trading mode:
futures contract is an agreement that the buyer agrees to receive certain assets at a specific price after a specified period of time, and the Seller agrees to deliver certain assets at a specific price after a specified period of time. The price that both parties agree to use in future trading is called futures price. The designated r period in which both parties have to trade in the future is called the settlement date or delivery date. The assets agreed to be exchanged by both parties are called "subject matter"< (8) introction to the trading mode of perpetual contract:
perpetual contract is a new and unique contract. The goal of the contract is to allow high leverage to the market conditions of the spot market. The contract will not be delivered and can follow the reference price index through various mechanisms. The contract evolved from the traditional futures contract, but the perpetual contract has more obvious advantages and greater risks than the traditional futures contract, supporting long short two-way trading, opening a 100 times leverage, permanent position, premium and so on.

2.

first, define the

blockchain as an open network ledger. It originated from bitcoin and is the underlying technology of bitcoin. In bitcoin transactions, all the information of transaction records will be packaged into a "block" for storage. With the expansion of information exchange, one block links with another, forming a blockchain

Second, the digital currency represented by bitcoin is a point-to-point e-cash system. Among them, every transaction will broadcast to all participants in the network, and it will be recorded in the account book after repeated confirmation, which is called "blockchain". Each participant will have his own account book. In this way, when false information occurs, it can be broken through mutual verification, so as to ensure network security

in the blockchain, every node is equal, and there is no centralized management organization. This "decentralized" feature makes the blockchain do not need to rely on a third party, its operation does not need any human intervention, and it can independently conct self verification. In addition, the network of blockchain is open to the world, and anyone can query data through the public port, so the whole system is highly transparent

In a word, blockchain is a reliable database and a reliable "account book". In the future, it will be applied in cross-border payment, securities, loans, voting, etc. For example, in cross-border payment, with the security of blockchain, you can remit money to the world anytime and anywhere, which saves a lot of intermediate links and high fees

3. The development of blockchain financial trading platform includes:
cross border payment, supply chain finance, insurance, digital bill, asset securitization, bank credit reference and other fields
① cross border payment. Due to the characteristics of disintermediation of blockchain, openness, transparency and non tampering of transactions, no third-party payment institutions join in, which shortens the payment cycle, reces costs and increases the transparency of transactions< (2) digital bill. Blockchain has the characteristics of disintermediation, system stability, consensus mechanism and tamper proof, which can rece the operational risk, market risk and moral risk in the traditional centralized system< (3) credit management. In the field of credit investigation, blockchain has the characteristics of decentralization, distrust, timestamp, asymmetric encryption and smart contract, which ensures that limited and controllable credit data sharing and verification can be realized on the basis of effective protection of data privacy< (4) asset securitization. The characteristics of blockchain disintermediation, consensus mechanism and non tampering can increase the efficiency of data flow, rece costs, monitor the real situation of assets in real time, and ensure the trust of all parties in the transaction chain on the underlying assets< (5) supply chain finance. Due to the characteristics of disintermediation, consensus mechanism and non tampering of blockchain, it does not need a third-party credit enhancement agency to verify the authenticity of various relevant vouchers on the supply chain, so as to rece the financing cost and financing cycle< (6) insurance business. With the development of blockchain technology, personal health status, accident records and other information may be uploaded to the blockchain in the future, so that insurance companies can obtain risk information more timely and accurately when customers take out insurance, so as to rece underwriting costs and improve efficiency. The sharing transparency of blockchain reces the information asymmetry and the risk of adverse selection; The characteristics of its history can be traced, which is concive to recing the moral hazard, thus recing the difficulty and cost of insurance management.

4. You can log in to the official websites of digital currency exchanges such as fire coin, coin security, biter, etc. Recently, the price fluctuation of bitcoin market is very small, basically in a horizontal state. Experts predict that bitcoin is bottoming out, so we might as well wait and see. If you learn to fry coins, acetoken, a quantitative robot, can learn about it.

5. Jingdong Vientiane data platform (hereinafter referred to as Jingdong Vientiane) under Jingdong wants to protect the interests of both sides of data transaction and let data flow through blockchain Technology (using the basic structure of Ethereum). In short, JD Vientiane uses the blockchain technology to build an alliance chain, which turns the data into a protected virtual asset through the unchangeable characteristics of the past data of the blockchain, ensuring that every transaction and data has a certificate of authenticity. In other words, before the data transaction, JD Vientiane will confirm the right of the seller's data, clarify its ownership, and synchronize the right confirmation certificate to each node. Without permission, the data provider can ask for legal protection by illegally selling the data that does not have the right confirmation certificate, or the certificate does not match the blockchain right confirmation. This not only solves the concerns of data providers, but also solves the demand of data demanders to find compliant and legitimate data In China, blockchain has also attracted the attention of most domestic star enterprises. For example, China Post and IBM have cooperated to develop a blockchain asset custody system; Based on the blockchain technology, Puyin group launched the tea based digital currency Puyin.

6.

The application of blockchain technology in the securities instry can increase the flexibility of securities issuance. Companies issuing securities can adopt smart contracts, and even issue securities 24 hours in an ideal state by setting the way and time of securities issuance

under the operation of smart contract, the buyer and the seller are automatically paired, and the settlement and clearing steps are automatically completed through the distributed digital registration system. The transaction records on the blockchain will not be changed casually, so the information entered has the effect of publicity in practice, so there will be no dispute about the confirmation of ownership in the stock exchange

in addition, blockchain technology makes the securities trading process more open and transparent. Through the blockchain technology, the securities instry does not need core institutions to operate and manage, nor does it need investment banks to underwrite, so as to achieve real point-to-point transactions, rece the illegal activities such as the black box operation and insider trading in securities trading, and realize the effective supervision of the securities instry

7. In the traditional asset management such as equity and securities field, the process takes a long time in the cycle, which will lead to the increase of intermediate business cost, transaction fees, information fraud and leakage, and it is easy to have risks. Moreover, it is managed by different intermediaries, which improves the transaction cost of assets and brings the problem of certificate forgery. And then lead to the judicial insecurity and regulatory loopholes under the black trading. Using blockchain to upgrade securities trading to automatic execution of intelligent contract, based on its characteristics, that is, point-to-point transaction transmission, saving intermediate process and link, recing cost loss, and privacy and security of trading information, it can change the trading efficiency of stock market and realize privacy and security of information; However, in order to run normally, the intelligent transaction based on blockchain must comply with the legal regulatory framework, and the corresponding laws and regulations need to be issued from the regulatory level.

8. The changes are as follows:
1. Blockchain technology can realize the automatic transaction settlement of the exchange, bypass the third party, improve the transaction speed, rece costs, rece operational risks and human errors
2. At present, blockchain technology is mainly used for post transaction clearing services, as well as equity trading management in the OTC market, rather than the mainstream exchange market. The reason is that blockchain technology needs a lot of storage space and a long confirmation time, coupled with the limitation of transaction speed, it is not suitable for centralized floor trading
3. Because of its confidentiality and unchangeable characteristics, blockchain is suitable for securities registration and can rece the registration time
4. Blockchain technology is a double-edged sword for the exchange. On the one hand, it helps the exchange rece the operating costs and risks, and on the other hand, it also reces the income of the exchange in clearing (the decrease of settlement fees and the shortening of settlement cycle will rece the interest income of the custody bank and settlement company). Therefore, for the exchange, it is necessary to develop new data services to make up for the revenue after using the blockchain
of course, blockchain will also have some positive effects on traditional instries. Blockchain has had a positive impact on crowdfunding, banking and tea collection. Puyin group launched the tea based digital currency Puyin.

9. In the links of securities issuance, securities trading, securities clearing and settlement, more wonderful application problems can be focused on SMIC blockchain service platform for real-time understanding

10. On January 22, 2019, AAX entered into a cooperation with the London Stock Exchange, which provides technology drive. AAX adopts the strongest matchmaking engine technology, Millennium exchange;. Using the mature, robust and scalable technology of the London Stock Exchange, AAX provides institutional level trading performance and reliability. Lseg technology provides solutions for the world's top traditional financial markets, including London Stock Exchange, Italian stock exchange, Johannesburg Stock Exchange and Singapore Stock Exchange. The London Stock Exchange Group

AAX will be officially launched on November 7, 2019. The official website of the London Stock Exchange also voiced support.