class in: Business, science and technology, cryptocurrencies
Theme : New products and services
SINGAPORE, July 1, 2023 /PRNewswire/ — Phemex, a leading cryptocurrency exchange, recently successfully filed a patent application with the Intellectual Property Office of Singapore (IPOS) that solves two problems common to blockchain exchanges: system update disruptions and separate network cables at peak times. After a year of extensive development, Phemex has already applied this advanced technology to its margin trading product, greatly improving the trading experience for its users. This new technology will soon be available for unified accounts and new Web3 products.
Phemex’s patented advanced technology specifically addresses two issues that have long plagued the industry:
System update interruptions
During system updates, exchanges are often closed. This is a major problem that causes significant downtime that can lead to frustration, missed opportunities, and lost revenue for traders. Phemex’s innovative technology keeps exchanges running smoothly during system updates, ensuring a seamless trading experience.
Disconnecting network cables during peak periods
Another common problem with central offices is broken network cables during peak hours. This can result in the exchange being unavailable, affecting traders’ ability to execute trades when they need them most. Phemex’s technology solves this problem by ensuring that the system can handle a high volume of traffic without any interruptions, which always allows for smooth transactions.
Phemex successfully uses advanced technology for margin trading and future products
Phemex launched its margin trading product earlier this year and has successfully deployed this new patented technology. This technology has helped provide traders with a seamless trading experience on the platform. The company plans to apply this technology to unified accounts and new Web3 products in the future, which will further enhance the trading experience of its users.
Stella Chan, Phemex Marketing Director, said: Phemex has always strived to improve the trading experience of its users and will certainly continue to do so in the future. The successful filing of a patent application for our cutting-edge technology is a testament to this determination and goes hand-in-hand with our determined commitment to continually improve our own products while applying centralized product capabilities to future decentralized services.
The successful filing of Phemex’s patent application accelerates the resolution of the most common problems encountered by blockchain exchanges and clearly demonstrates the company’s spirit of innovation and its desire to continuously improve the trading experience for its users. Phemex plans to apply this technology to future products and is ready to continue providing transparent and reliable trading experience to its users.
About Phemex
Phemex is a certified cryptocurrency exchange that offers an efficient and transparent trading experience and is committed to protecting all assets with the latest security technologies and the practice of Merkle Tree reserve proof. Founded by a team of industry veterans, Phemex provides 24/7 custom solutions that facilitate users’ crypto portfolio building with its scalable, low-latency environment and fair matchmaking system. This ensures that pricing and timing take precedence.
To learn more about Phemex, visit https://www.prnewswire.com/news/phemex/.
You might also be interested in these press releases
|
Press release sent on June 30, 2023 at 21:55 and distributed by:
