Today there are two main technological approaches to how cryptocurrency exchanges are handled: handled: Distributed
Distributed Exchanges make up the majority of the space and their approach is a single access point web-site through
a URL within your browser. All funds are deposited into a wallet or small series of wallets which are fully owned
and controlled by the cryptocurrency exchange. Similar to the way your banking account makes up a small part of what
is held within that bank your cryptocurrency trading account makes up a small amount of what is held on that exchange.
The record of what piece of the larger wallet you have ownership of is held most likely within some form of relational
database which interacts with the web-site upon your login.
The benefits of this approach are the reduction of transaction fees since only deposits and withdrawals occur “on chain”
when you execute a trade no coins or tokens physically move from one wallet to another so the process is also fast; however,
this single access point approach is subject to having access blocked by governments or corporations and also very subject
to attack resulting in loss of access or worse loss of funds. In 2018 almost 200 exchanges were blocked by the
Chinese government and $731M worth of digital assets were stolen from exchanges in 2018 also. [
Decentralized Exchanges are the alternative approach and offer a wider area of availability because they operate
in a decentralized manner through a series of nodes. In this approach all transactions occur “on chain” so
deposits, withdrawals, and even trades are subject to long wait times due to the confirmations needed to successfully
complete a transaction and much higher transaction fees as each and every transaction is subject to gas and transaction
Amplify Exchange is developing a new best in breed solution utilizing a proprietary blockchain solution which
we call the Amplify Bridgechain. The bridgechain bridges the divide between distributed and decentralized exchanges by
bringing the best of both approaches into a single hybrid approach. The Amplify Bridgechain will serve as a blockchain
based digital ledger that will mirror everything that happens within Amplify Distributed to allow decentralized clients
to have access to the same trade volume, transact in a fast, secure and cost-effective way and still have access anywhere
on the planet.
At this point in time Crypto exchanges are very “unfriendly” to those who are new to crypto trading. This has
created a barrier to entry for millions of people who otherwise would like to be involved in the crypto “wave”
that is sweeping the globe. The problem has been that the existing exchanges have been designed from the ground up specifically
to crypto enthusiasts. Amplify is being designed to make it easy to open an account right from your bank account or alternative
payment method and have direct access to a multitude of digital assets. Once combined with education, portfolio management
tools, and technical analysis studies designed for token holders of all experience levels, our solution is welcoming
for both retail and institutional participants.
Traditional trading platforms, such as TD Ameritrade or E*Trade, have set a minimum standard for portfolio management functionalities
that current cryptocurrency exchanges do not offer. Amplify intends to offer trading alerts, conditional order types,
position management tools, user risk profiles, interactive charts, and a trading education section as well as many others.
Additionally, we intend to offer advanced trading tools, such as scripting interfaces for savvy token holders to custom
code their own indicator and analysis tools.
Amplify Exchange will be the single exchange where one can open an account funded directly from their bank account or alternative
funding method and immediately have access to both the major tokens as well as vetted altcoin offerings. Once in the
exchange, a user will have access to a large suite of tools from the most basic portfolio management tools to user education
to highly sophisticated trading tools within one platform. All in a comfortable environment. All extremely easy to use
and execute. This will simply set a new standard for the Crypto Exchange.