Development contract of digital currency trading platform

1. 1. digital currency contract, also known as futures contract. In short, it's business in the future. A standardized contract uniformly formulated by the exchange to deliver a certain quantity and quality at a specific time and place in the future. The vast majority of users use the margin system of futures contracts, add 10 or even 20 times leverage to leverage big funds, and then use the index fluctuation to buy low and sell high trading contracts, so as to earn double profits< 2. Perpetual contracts are derivatives. From the perspective of trading, it is similar to the traditional futures contract, but there are some differences. First of all, it has no maturity or settlement date. The perpetual swap contract is similar to a margin spot market, so its trading price is close to the underlying reference index price, which is different from the futures contract. Due to the basis, the trading price difference of the futures contract may be significantly different. Secondly, the main mechanism of anchoring spot price is capital cost< At present, rolling spot futures is the main form of perpetual contracts. Rolling contract is a kind of futures contract settled on the same day and automatically extended. Profit and loss are settled on each trading day, and the contract position held by traders will be automatically extended at the end of the trading day. In addition, the cash flow of assets will be exchanged, and the long investors will pay the capital cost to the short investors to compensate the capital cost of the short investors
3. Option contract is a kind of agreement, which can give traders the right to buy or sell assets at a predetermined price before a specific date or on a specific date. Option contracts are trading derivatives that can be based on a wide range of underlying assets, including stocks and cryptocurrencies. These contracts may also come from information such as financial indicators. Generally, option contracts are used to hedge the risk of existing positions and speculative transactions.

2.

The contract transaction of digital currency is not safe. There are still many loopholes in the digital currency trading platform, for example, the most common are the following six kinds:

1. Denial of service attack

denial of service attack is the most important attack against the digital currency trading platform at present. Through denial of service attack, the attacker makes the trading platform unable to access normally, Because users can not accurately distinguish the degree of attack, it often causes panic asset transfer, which brings some loss

2. Phishing incident

even the best technical measures at present can not make the digital currency trading platform avoid phishing attacks. Some hackers and criminals can confuse digital currency investors by means of fake domain names or fake pages, while ordinary investors can't identify the authenticity, so it's easy to cause asset losses

Many digital currency trading platforms use a single private key to protect the hot wallet. If hackers can access a single private key, they can crack the hot wallet related to the private key. For example, in the attack on yapizon of Seoul stock exchange in 2017, the attackers stole hot wallets from the trading platform twice in a year, resulting in a total loss of nearly 50% of the assets of the trading platform and eventually leading to the bankruptcy of the trading platform

Fourth, e to the lack of perfect risk isolation measures, or ineffective supervision on the rights of employees, some employees who have the operation rights of the platform use internal trust to seek unjust wealth for themselves. For example, in 2016, the event of employees stealing bitcoin on shapeshift caused a total loss of US $230000 to the trading platform by stealing and reselling sensitive information to others

Fifth, the software vulnerability of digital currency trading platform includes single sign on vulnerability, OAuth protocol vulnerability and so on. At present, all countries have laws requiring banks or other financial institutions to implement information security measures to protect customers' deposits. However, e to the fact that the blockchain field is still in its infancy, there is a lack of such specifications for encrypting digital assets. Therefore, it is not accidental that many trading platforms have a large number of loopholes in the absence of security constraints

6. Transaction malleability the technical supporters of blockchain often think that blockchain transactions are highly secure because they are recorded on records that are said to be unchangeable, but each transaction needs to have a corresponding signature, and the records can be forged temporarily before the final confirmation of the transaction

extended data:

rules of contract transaction

1. Transaction time

contract transaction is 7 * 24 hours transaction, which will be interrupted only ring the settlement or delivery period of 16:00 (UTC + 8) every Friday. In the last 10 minutes before delivery, the contract can only be closed, not opened

Transaction types are divided into two types, opening and closing. Opening and closing positions are divided into two directions: buying and selling:

buying open long (bullish) refers to buying a certain number of contracts when users are bullish and bullish on the index. Carry out "buy open more" operation, match success will increase long position

selling pingo (multi order closing) refers to the selling contract that the user makes up for when he is no longer bullish on the future index, offsets with the current buying contract and exits the market. Carry on "sell flat much" operation, match after success, will rece long position

short selling (bearish) refers to the new sale of a certain number of certain contracts when the user is short or bearish on the index. Carry out the operation of "sell short" and increase the short position after successful matching

buy close (short single close) refers to the buy contract that the user will not be bearish on the future index market and make up for, offset with the current sell contract and exit the market. Carry out "buy short" operation, after matching successfully, short position will be reced

3. Order method

limit order: the user needs to specify the price and quantity of the order. Limit order can be used for opening and closing positions

order at opposite price: if you choose to order at opposite price, you can only enter the order quantity, not the order price. The system will read the latest competitor price at the moment of receiving the entrustment (if the user buys, the competitor price is the selling price of 1); If it is a sell, then the counter price is buy 1 price). Issue a price limit order for this counter price

4. Position

the user owns the position after opening and trading, and the positions in the same direction of the same contract will be merged. In a contract account, there can only be 6 positions at most, that is, multiple positions of current week contract, short positions of current week contract, multiple positions of next week contract, short positions of next week contract, multiple positions of quarterly contract and short positions of quarterly contract

5. Order restriction

the platform will restrict the number of single user's positions in a certain period of contract and the number of single open / close positions, so as to prevent users from manipulating the market

when the number of positions or entrustments of users is too large, the platform has the right to require users to take risk control measures, including but not limited to cancellation of orders, closing positions, etc. The platform has the right to adopt measures including but not limited to limiting the total number of positions, limiting the total number of consignments, limiting the opening of positions, withdrawing orders, forcibly closing positions, etc. for risk control

3. This needs to be developed by professional technical experts. This kind of matchmaking mechanism is very common
matchmaking transaction refers to the transaction mode in which the seller entrusts the sales order / sales order in the trading market and the buyer entrusts the purchase order / purchase order in the trading market, the trading market determines the transaction price of both parties according to the principle of price priority and time priority, generates the electronic transaction contract, and makes physical delivery according to the delivery warehouse specified in the transaction order
bitcoin, Ruitai coin, Laite coin, Qianjin card and other related trading platforms mostly use this method.

4. It's sad that I didn't even know when I committed a crime. Voluntariness is the most unreliable evidence to overturn a case.

5. Digital currency contracts for differences can be traded on
freetrade
tiger sniff website, which is the first digital currency contract for differences transaction launched. At present, there are five procts BTC / eth / LTC / etc / EOS that can be traded.

6. There is no fixed standard for signing the development agreement for purchasing digital currency trading platform, which can be signed through negotiation

digital currency has been widely concerned in China, and many central banks in the world have indicated that they want to develop digital currency. The Central Bank of China is in the forefront of the world, taking the lead in the research and development of digital currency. New breakthroughs are expected in 2017
some domestic enterprises and teams are also carrying out relevant entrepreneurial activities, such as the combination of digital currency and crowdfunding in coin profit China to make digital currency crowdfunding more standardized.

7. Refer to the physical transfer contract, but write clearly the value, time limit and existing status of the virtual goods.
the format of the transfer contract is:
Party A: (signature, address, ID card, etc.)
Party B: (signature, address, ID card, etc.)
specific terms:
name, existing form, existing location, value, etc.
delivery method Dispute resolution can be expressed in different points
at last, both parties sign and take effect< There are four ways to obtain virtual currency:
1. Purchase or subscribe on the trading platform. The subscription currency is risky and needs to be cautious
2. Get virtual currency through mining, bitcoin, Leyte, dogcoin and other cryptocurrencies are all
3. Companies such as Microsoft and Dell accept bit payment by selling goods or services in exchange for virtual currency
4. Get virtual currency rewards by purchasing goods, similar to business points, such as buying jewelry to get Fuyuan coin.

8. Ete digital currency platform to buy a house can sign a contract, from the house to hand over all intelligent! It's very convenient

9. Financial derivatives have existed for many centuries and constitute an important part of the global financial market. Derivatives are different in that even if the price of the underlying asset falls, traders can make a profit. This is different from ordinary currency trading. The reason for this is that in derivatives trading, you invest in the expectation of the asset rather than the asset itself. If you expect asset prices to fall, short; If you expect prices to rise, go long. The digital currency perpetual contract is a kind of financial derivatives

ordinary contract refers to an agreement to purchase a specific asset at an agreed price at an agreed time, while perpetual contract has no expiration date. In other words, if you hold a position (long or short) in the perpetual contract market, you can decide how long you want to hold the position

at present, 58coin is the best one to make perpetual contracts. Basically, all the perpetual contract codes in the Asia Pacific region come from the beta version of 58. In the aspect of perpetual contracts, 58coin has a high market share

perpetual contracts are useful in many ways. First of all, if you hold bitcoin and see that the price of bitcoin is falling, it's better to simply "short" in the bitcoin contract market to stabilize your portfolio than to bear losses and sell bitcoin, or to keep holding for the price to recover. In other words, you can use perpetual contracts to hedge your position in the spot market. Secondly, the contract market enables you to trade in all market conditions. You can make a profit in both bull and bear markets. Third, with leverage, you can significantly increase profits.