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.
There are thousands of different exchanges already. But AbacasXchange believe they will be able to offer something that will allow them to win competition. The exchange that is being created by AbacasXchange seems to be a classic centralized platform that has all the disadvantages of such solutions. The project does not have any prototype, only a simple site. The AbacasXchange team consists of only 3 people, which is incredibly small. Of course there are a few more advisers, but in any case this is not what is needed to create a truly quality service. We can say that the White Paper is quite voluminous and detailed. But even this does not allow a positive assessment of the project's prospects.
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