How to build an exchange fit for Crypto 2.0
— Undergoing significant evolution –, Impossible, Product, Exchange, Traded –, Based protocols, Difficult, Intermediaries, Many crypto exchanges, Resiliency — 1 min read
The recent market dislocation in crypto assets has dented confidence in this relatively new market. But the crisis could mark an important turning point in the technological and product evolution of the asset class. Building a robust financial infrastructure for crypto is essential to ensuring that the system can absorb future shocks and create the necessary conditions for greater institutional participation. The first generation of crypto exchanges were built for retail investors, limited to web and mobile UIs. This made it difficult for institutional firms to interact with the exchange flow in its current form – these exchanges lack an industry-standard approach or FIX gateways with market data order flows and drop copies that institutions would expect to see – making it impossible to get reliable and timely order confirmations. Exchanges need to be prepared for growth by getting the foundations right Source