The AbacasXchange is a universal asset exchange built using blockchain technology which allows the trading of any asset, anywhere and at anytime. Abacas goes further to enable you to present asset for sell or resell compliantly. It allows assets to be exchange both directly and indirectly. The AbacasXchange is a new system for the registry and peer-to-peer exchange of tokens, mosaics andless liquid cryptocurrencies through highly liquid cryptocurrencies and asset tokens known as GatewayAssets (BTC, ETH, XEM, etc.)
The AbacasXchange is an unopinionated, universal asset exchange [DEX] & community platform with a robust business model targeting general asset purveyors, retail and institutional investors, market makers, digital rights owners, crowdfunders and traders. The platform could deploy on NEM as its independent ledger book of record and a key component to the Approved by Abacas Proof of Asset product. Abacas distinguishes itself by promoting ancillary chain offerings in the areas of asset provenance, AML/KYC and identity/document authentication.
Goals The main objective of AbacasXchange is to solve the current cryptocurrency problems about fees, about lack of transparency and liquidity, and abou the fatal loss of keys. As a secondary goal, they dreams with the establishment of the Abacas Protocol as a global standard for intrinsically negotiable assets and cryptocurrencies.
The Abacas Protocol is an encoded open workflow that enforces a rigid set of policies on cryptographic assets. This protocol allows you to do all your work on the blockchain comfortably. The Abacas Token ID links to meta-data defining the specifics about the base asset on account with the custodian, custodial information including provenance, and the specific rules of the Abacas Protocol that apply to this token and the underlying asset. The Abacas Protocol is comprised Meta-Data, Rules and Procedures.
Meta-Data is captured on each party (Investor, Custodian, etc.), each base asset (Asset Type, Denomination, Identity, Provenance, etc.) and the corresponding Abacas Token.
The rules govern what procedures must be applied to each entity (party, base asset, token), and the orchestration of those procedures in a logical order.
The Abacas Exchange provides the option for 3rd parties to manage the trust/custodial relationship outside of the Abacas Exchange.
Highly liquid digital currencies including BTC and ETH are gaining acceptance as a method of payment in lieu of fiat currencies. The Abacas exchange has been designed to make all the activities of a standard stock market quite easy
Using Gateway Assets, the AbacasXchange forms liquidity chains between three or more assets to connect and form a price between two assets that may not exist otherwise. The Liquidity Chains that are formed provide greater opportunities for buyers and sellers to connect ondisparate assets, but this can only exist on an exchange that insures the integrity of the process and as-sets of the exchange.
The AbacasXchange enforces the integrity of assets traded through a set of rules and procedures knownas the Abacas Protocol. The Abacas Protocol provides for user identity; asset proof of existence, proofof provenance and proof of authenticity; custody and trust of the underlying asset of a digital token; lowlatency price discovery; low friction order entry; smart order linkage for cross-asset liquidity; integratedblock chain services for open and distributed workflow processing and value transfer over multiple dis-tributed ledgers.
The Abacas Protocol provides for user identity; asset proof of existence, proof of provenance and proof of authenticity; custody and trust of the underlying asset of a digital token; low latency price discovery; low friction order entry; smart order linkage for cross-asset liquidity; integrated block chain services for open and distributed workflow processing and value transfer over multiple distributed ledgers.
AbacasXchange solves a number of problems: Abacas allows you to exchange AAPL stock for BTC in 1 transaction. All transactions on AbacasXchange are posted on a public ledger and can be viewed by anyone. Nowadays, trading is mostly binary. You can choose to receive only EUR or only USD or only something else in exchange for the stock you are selling.
All transactions on AbacasXchange are posted on a public ledger and can be viewed by anyone. Nowadays, trading is mostly binary. You can choose to receive only EUR or only USD or only something else in exchange for the stock you are selling. AbacasXchange improves liquidity by Direct and Indirect trading. The AbacasXchange “safety deposit box” provides a decentralized secure backup for your private keys.
AbacasXchange improves liquidity by Direct and Indirect trading. Direct Liquidity occurs when two investors wish to exchange the same two asset pairs at a mutually agreeable price.
Indirect Liquidity occurs when three or more investors who’s orders when linked form a liquidity chain that fulfills part or all of each order at a mutually agreed price.
The asset to be purchased is exchanged simultaneously for an asset in the buyer’s wallet or account. This means that clearing and settling an internal trade takes seconds not days.
With ABCS, two or more clients can exchange assets of any type in direct transactions.
Any two Abacas Asset tokens may be traded on the exchange. When orders are matched, the transactions are recorded and the Abacas ledger balance updated to reflect the change in ownership. An Abacas tokenized asset is identified by a unique Abacas Token ID within the exchange.
The Abacas Token ID links to meta-data defining the specifics about the base asset on account with the custodian, custodial information including provenance, and the specific rules of the Abacas Protocol that apply to this token and the underlying asset.
An Abacas Tokenized Asset that is held in custody of a registered trust of the Abacas Exchange and fully supports all aspects of the Abacas Protocol is identified as “Fulfilled by Abacas”.
The Abacas Exchange is a cloud-based system providing access via web browsers and mobile applications. There are three primary users of the Exchange (Client/Investor, Trust/Oversight, Operations/Admin). If the token is available for trading, it can be exchanged at anytime and anywhere globally.
Each asset added to the AbacasXchange is registered with an asset code and metadata that cate-gorizes the asset and establishes information about the asset including how the asset’s proof of ex-istence, proof of authenticity and proof of provenance are certified.
Each exchange user is identified uniquely and verified through Know-Your-Client verification.Additionally, metadata is stored on each user to classify them in terms of nationality, geographiclocation, etc.
The Abacas Exchange provides APIs over Https/Web Sockets as well as integration with blockchains both for value transfer, record keeping (Abacas Distributed Ledger) and blockchain service providers (AML/KYC).
The AbacasXchange utilizes four primary technology tiers:
1)Web Client 2) Service Engines 3) Workflow Orchestration 4) Database
What makes AbacasXchange better?
PlatformEthereum
CountryUnited States
Restricted Countries United States
Total Tokens100,000,000
Initial Token Price$1.0000
Funds in Escrow?No
Accepted Currencies BTC, ETH
Website: www.token.abacasexchange.com
Whitepaper: https://abacasexchange.com/wp-content/uploads/The-Abacas-Protocol-Dec-2017-WP-VLSMV-v1.3.pdf
"This article was created in exchange for a potential token reward through Bounty0x"
username: airdroparena
