Problems in Industry

Some of the current crypto exchanges suffer from a number of problems:

β€’ Poor technical architecture

Many exchanges are "put together quickly”, by good tech people, but who have little or no experience in finance or in operating an exchange. They often choose the simplest approach to get the system up and running. While this may work well in the beginning, as traffic grows, the system will not able to handle the increased load. Exchange systems need to be engineered from the ground up with security, efficiency, speed and scalability in mind. This often slows down the initial development, but is critical for long-term success.

Our team has decades of combined experience building and maintaining world class financial systems that shape the economy. We understand how these systems are built from the ground up.

β€’ Insecure platform

There are hundreds of exchanges that went down due to being hacked.

WEB3 App is built to high standards audited and penetration tested. We have experience building financial systems to the highest security standards and strive to ensure security first.

β€’ Poor market liquidity

Professional traders and normal users are significantly affected by this. Having a shallow order book means high slippage when trading, which is very expensive for traders. Getting miners, institutional investors and large traders into a new exchange is a chicken and egg problem, and requires a team with deep industry resources.

UBX team have been in both the finance and crypto industry for many years. The team has worked on and operated a number of exchanges, and have accumulated a large network of partners in this space. These partners will be key in bootstrapping the exchange.

β€’ Poor customer service

Traders are a different breed when it comes to users. Understanding the trader mentality is vital for running a successful exchange. Money is literally on-the-line. Many exchanges service traders as if they were running a social media site. A 3-second delay in seeing your friends status update would hardly be noticed, but on an exchange, the same would be unacceptable, resulting in a torrent of user complaints.

In additional to the technology stack, UBX is built with service in mind. UBX shares support responsibilities across the entire staff and company. When a trader has a problem , they get an answer directly from someone who knows the system and not someone reading from a script.

β€’ Poor internationalization and language support

Block chains have no borders. Most exchanges focus only on one language or one country. Our international multi-lingual team has extensive working experience in North America, Europe and Asia, and we are able to smoothly support the global market.

Last updated