COREDAX, a South Korean cryptocurrency exchange, announced that it will be officially starting its services on the 12th.
COREDAX is a subsidiary of a financial IT solution provider called Neoframe that has developed HTS-related (Home Trading System) technologies for stock firms for the past 20 years. It is currently supplying its solution to Samsung Securities, Korea Investment & Securities, and Daishin Securities. Its strengths are its ability to process large amount of orders at ultra-fast speed and to establish security systems that are equivalent to that of financial institutions based on its experience in development of HTS for many years.
Its solution supports matching of millions of transactions per second and has microsecond-level response speed. Maximum of 300,000 people can connect to its solution at the same time.
From an aspect of security, Neoframe completely separated coin wallet and internet network. It has introduced its own time control technology and ‘cool wallet’ system that transfers coins only when reference value is verified.
“We have enhanced our security by storing 95% of our customers’ assets into cold wallets and rest of 5% into cool wallets.” said CEO Kim Sung-ryong of Neoframe. “To prevent additional hacking attempts, we have adopted double and even triple layers of security by encrypting transaction data and transmission section and physically separating network.”
COREDAX is planning to list 17 coins such as Bitcoin, Ethereum, and EOS first and list up to 30 coins by end of this year. IT is also going to hold an airdrop event for a newly listed coin called DBX. One can use COREDAX through MTS (Mobile Trading System), HTS, and COREDAX’s webpage.
Staff Reporter Ryu, Geunil | ryuryu@etnews.com