Cryptocurrency futures and options trading service Deribit has launched a new platform that will ensure cheaper and speedier transactions.
Deribit Perpetual: The Millisecond Bitcoin Exchange Service
Deribit recently launched a high-speed platform called Deribit Perpetual. The new product is said to track the price of Bitcoin and also enable trading that is efficient and cheap. According to Deribit, this new platform can carry out a large number of order requests every second and can handle transactions at a few milliseconds for every order.
According to John Jansen, the CEO of Deribit, the company was dedicated to improving and shaping its infrastructure to contend with large volumes during the first half of 2018. It has now successfully built an infrastructure that is extensive and flexible, which can adequately accommodate several nodes. The CEO also said that the there has been a duplication of each trading book on several nodes, which means that another quickly replaces the failure of one node.
Another benefit of the platform is its cheap fees, which allow traders with little capital outlay to still take sizeable positions. Deribit CEO further says that the company’s fees remain low because of its reliance on volume. A volume of over $60 million is carried out almost on a daily basis. With this, the company has enough to cater for its expenses and still expand.
The beta version of the high-speed platform was launched on August 14, and it has gone on to be the top product on the exchange.
Deribit went live in June 2016. John Jansen, the founder of the exchange, is proficient when it comes to options trading. The idea to create a futures and options exchange came to Jansen around 2014. After years of tests and experiments, Jansen, along with an experienced team decided to make the idea of Deribit a reality.
Since its inception, the exchange has grown tremendously and is currently ranked among the three best futures exchanges and is among the most popular cryptocurrency options exchanges. Deribit’s headquarters is in Amsterdam, the Netherlands.
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