Abacas is a universal exchange that allows you to trade, exchange or transfer Any Asset Anywhere Anytime
Smart contract blockchain
There is a continuum of new block chain service providers being announced and funded through the formation of new crypto-currencies as a method of payment for the services and infrastructure provided. The creation of the ERC20 & Mosaic Token Standards provides a means for any asset owner to register and tokenize their assets, and record the balance and transfer of any portion of that asset through a distributed public ledger on the blockchain. Highly liquid digital currencies including BTC and ETH are gaining acceptance as a method of payment in lieu of fiat currencies.
These three events create a need and opportunity for a new kind of digital asset exchange, the AbacasX - change.
The AbacasXchange is a new system for the registry and peer-to-peer exchange of tokens, mosaics and less liquid cryptocurrencies through highly liquid cryptocurrencies and asset tokens known as Gateway Assets (BTC, ETH, XEM, etc.)
Using Gateway Assets, the AbacasXchange forms liquidity chains between three or more assets to con- nect 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 on disparate assets, but this can only exist on an exchange that insures the integrity of the process and assets of the exchange.
The AbacasXchange enforces the integrity of assets traded through a set of rules and procedures known as the Abacas Protocol. 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.
Even though there are thousands of different exchanges already on the market, AbacasXchange believe they will be able to offer something unique and outstanding to beat the competition. The exchange that is being created by AbacasXchange seems to be a classic centralized platform, which comes with all the disadvantages of such solutions. They want to focus on fighting with high fees, lack of liquidity and solve the problem of lost keys that may make the funds in the wallet lost forever. The most interesting feature is this diversity of assets that could be exchanged between themselves like forex, cryptocurrencies, precious metals or stocks, making it possible to buy gold using crypto and then sell it for fiat currency. Abacas has come up with a more efficient way to acquire for example stocks using gold in only one transaction instead of at least three compared to mainstream solutions. All transactions are posted on a public ledger and can be viewed by anyone. At the moment any kind of prototype isn't available yet. The AbacasXchange team is relatively small and consists of only 3 people, which may make it hard to properly develop the platform. However, there is an extension to the team in a form of experienced and skilled advisory board. The White Paper is quite voluminous and detailed and provides a lot of information.
User ReviewWrite review 1 reviews
Abacas is the first universal asset exchange so it is like no other exchange. Plus we have a very unique liquidity engine. See patent USPTO 7194481. Both Vince and I know what it takes to build a company from concept to working model to development to launch. Vince grew his previous company to 225 staff, sold to PE, and I started a firm in 1998 that operates in London UK today. Abacas has a close group of developers that we are leveraging but they are not officially part of the company, hence they are not listed as team members or advisors. We cannot take them on as staff prefunding but will have a ready group when funding is available. We are managing this project responsibly and logically.
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