Binance Binance Exchange

Binance Binance Exchange

Intro
In our view, there are fundamentally two different types of exchanges: the ones that
deal with fiat currency; and the ones that deal purely in crypto. It is the latter one that
we will focus on. Even though they are small now, we strongly believe that pure
crypto exchanges will be bigger, many times bigger, than fiat based exchanges in the
near future. They will play an ever more important role in world finance and we call
this new paradigm Binance​; Binary Finance.
With your help, Binance will build a world-class crypto exchange, powering the future
of crypto finance.
Problems
Some of the current crypto exchanges suffer from a number of problems:
● 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.
● Insecure platform
There are hundreds of exchanges that went down due to being hacked .
Binance 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.
● Poor market liquidity
Professional traders and normal users are significantly affected by this.
Having a shallow orderbook 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.

Binance’s 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.
● 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, Binance is built with service in mind.
Binance 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.
● Poor internationalization and language support
Blockchains 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.
Binance Exchange
Matching Engine
Our matching engine is capable of sustaining 1,400,000 orders / second, making
Binance one of the fastest exchanges in the market today. You can be certain, on
our exchange, that your orders will never be stuck due to the matching engine being
overwhelmed.
Feature Rollout
We will roll out the platform in roughly the following order:
● Spot trading
● Margin trading
● Futures
● Anonymous instant exchange
● Decentralized (on-chain) exchange
● and more…

Binance Binance Exchange