With the emergence of crypto industry, we have seen a significant growth in open financial tools and services and primarily in exchanges. Exchanges are marketplaces that help us discover price in open supply and demand markets. As result exchanges create markets that are accessible to large number of participants whom can conduct transactions in a fair and efficient manner. Exchanges for a very long time have been multi-billion dollar area accessible to few, however it’s becoming more accessible today due to cryptocurrency and blockchain demand in the market. BitPumps as a trading and exchange software technology provider introduced a new software package designed to enable businesses and individuals to launch and operate scalable exchange platforms on their own. This is achieved by creating a dynamic trading system with a flexible setup and configuration that can host infinite number of digital assets and cryptocurrencies. The solution provides a full trading platform including matching engine, APIs, real-time data feed and market data stream all available in a customizable trading terminal.
By utilizing blockchain technology based on Ethereum’s smart contract, we created an exchange token known as BitPumps Token which is a utility token that fuels BitPumps software. It creates an open ecosystem for businesses and individuals to operate and run a friction-less exchange. It would also create an opportunity for investors and other participants to allocate funds and share liquidity for exchanges through BitPumps Token in the distributed exchange network in an autonomous manner.
In this Whitepaper we go through the exchange history and explain the motivation behind this ecosystem. We then describe the exchange and software specification of BitPumps, its design and architecture as well as its components. Afterwards we discuss about the BitPumps exchanges as participating nodes in the network and proceed with the token model and its distribution.
Ultimately, future considerations, Roadmap and the conclusion to wrap up.
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