What is Coinolix Project?

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What is Coinolix Project?

Coinolix is developing a multifunctional crypto exchange that will combine an exchange platform with the blockchain. In this exchange, digital tokens pegged to one use dollar and backed by gold held by the Coinolix Exchange Limited.

In the current world, there are fiat-based exchanges and purely crypto-based exchanges. This exchange will be a pure crypto exchange. Coinamia Fiat Coin (USDC) will be the native coin for this exchange. The coin is a P2P coin that has a design derived from the PoS consensus algorithm.

Coinolix is a multifunctional cryptocurrency exchange ecosystem by combining a robust crypto asset exchange platform. High number of trade requests can be countered with the adaptable & extensible engine in a matter of moments. Coinolix exchange follows a best practice by keeping the majority of the asset reserve in cold storage, which is not present on the web server or any other computer to secure users fund on exchange wallet. Exchange services includes Spot market trading, Margin trading, Futures market trades. We will provide cross-platform Device Coverage on all browser-based trading platform, Android & IOS device platform, PC (Windows, Mac, Linux) trading platform, REST API. "Zero" trading fees for CLX token Holders* & also get the huge benefit of token buyback & burning program. 24/7 Customer service with faster response time to resolve customer's problems. Earn tokens by doing promotional activitie on coinolix website.

Coinolix Problem:

Architecture

Trade frameworks should be designed starting from the earliest stage with security, effectiveness, speed, and adaptability as a main priority. Numerous exchanges frequently pick the easiest way to deal with get the framework up and running. While this may function admirably to start with, as activity develops, the framework won't ready to deal with the expanded network load.This frequently backs off the underlying advancement of exchange, yet it is basic for long haul achievement.

Liquidity

Since the crypto business is so new, it isn't precisely coming in liquidity. Having a unsound order-book implies high slippage when trading cryptocurrency, which is exceptionally costly for traders.

Platform security

Almost all cryptocurrency is immutable and there is no way to change once transaction is made because of this exchanges refuse to take responsibility for transactions.There are several exchanges that went down due to being hacked.

There are propelled advancements that exchanges would profit by with respect to recognising endeavoured hack.Nonetheless, these advancements are expensive to the point that exchanges have no chance to get of gaining admittance to them, meaning they are liable to almost any programmer with enough know-how to get around their security frameworks.

Poor customer support

Traders are a different breed when it comes to users. Understanding the users problem is vital for running a successful exchange.At the point when the exchange demonstrations in a way that undermines trust of trader would be unacceptable, resulting in a tones of user complaints.

Language support

Cryptocurrency market have no borders, Most of the exchanges concentrate just on one dialect or one nation and this result in poor support for this international market.

Banking hurdles

Banks are additionally obstructing boundless trade selection of the exchanges, due to extreme volatile condition of cryptocurrency market. Banks put them self in back foot when it comes to verification and users background checks.

Coinolix Exchange Solution:

Trading Engine

The matching engine of the Coinolix Exchange is fit for managing 1,200,000 order per second. High number of trade requests can be countered with the adaptable and extensible engine in a matter of moments. Along these lines, our matching engine can stand up for itself with one of the quickest and most secure engine available in current market.Thus, traders can be saved from basic issues like stuck trading requests or tedious handling of the trades.

Features:

Spot market trading
Margin trading
Futures market trades

Language support

We will support English, Chinese， Russian, Japanese and Korean on all of our user interfaces. (The very initial release will be in English and Russian only.)

More languages will be added over time.

24/7 Customer support :

Rather than giving pre-designed script to the customer, we prefer to share support and responsibilities to be distributed within our staff and company in such a way that customer specific problem can be solved by the designated officer for that particular problem.

Security :

DDoS attacks protection: Due to high-traffic activity cryptocurrency exchanges are regularly prone with DDoS attack. We use secure distributed network of CDN (content delivery network) server that can successfully take load of good number of database request in any given moment to keep exchange services online 24/7.

Exchange audit: Our devoted Vulnerability Research Team will watch the platform execution day in and day out to keep any conceivable defencelessness attacks. We will also think of additional safety efforts as the market appropriation develops in upcoming future.

Encryption and Backup: We will use complex encryption strategies and perform day by day information reinforcements to ensure all the user data is secure. This approach moved down by decentralized foundation will enable us to secure our client's information even in the direct outcome imaginable of hypothetical hacking attack.

Two-factor authentication: by applying two-factor authentication on top of username and password to secure users from phishing site and email vulnerability.