Cryptocurrency Exchange Cobinhood Launches Decentralized Blockchain Platformbr>
Cryptocurrency exchange Cobinhood has announced the launch of its new decentralized blockchain platform.
Founded in 2017 by Popo Chen, Cobinhood is a zero trading fee cryptocurrency exchange platform. The name is inspired by Robinhood, a commission free trading platform for securities, primarily stocks and bonds. It aims to be to cryptocurrencies what the Robinhood app is to equities, which is the reason for the platform’s unusual name.
The blockchain platform, called Dexon, is backed by IDG Capital, one of the top venture capital firms with over 150 successful exits and manages more than 20 billion in assets. The platform claims to be the fastest blockchain available on the market aimed at guiding mass adoption within the banking industry and real-world application requirements. It uses parallel blockchain systems that work together to form a scalable, low-latency decentralized transaction processing engine.
“Prior to Dexon technology, blockchain could only scale a few secure transactions per second, making it unable to keep pace with traditional banking technology and other real-world’s needs,” the company said. “However, with this new architecture, the Dexon network is ready to compete with credit card companies and bank transactions through the use of highly secure blockchain technology. Dexon will head industries in making the revolutionary shift of blockchain implementation and adoption.”
Dexon uses a blocklattice structure to make decentralized transactions more scalable. Dexon’s blocklattice features multiple blockchain systems that work together in parallel, making it easier to scale automatically and energy-efficiently.
“Blockchain is still in its early stages, though many industries are looking to implement blockchain and talk constantly about its benefits, it has yet to reach rapid adoption,” said Chen. “Factors like speed of transactions have been a crucial inhibitor in allowing this technology to be implemented into the real-world banking ecosystem. The innovation surrounding blocklattice architecture like Dexon will enable use cases such as everyday banking, stock and cryptocurrency exchange, micropayments and other markets.”