White Paper v1€¦ · ROBINOS TRADE SHARE WHITE PAPER V1 2019 5 Company Overview Our Vision Our...
Transcript of White Paper v1€¦ · ROBINOS TRADE SHARE WHITE PAPER V1 2019 5 Company Overview Our Vision Our...
WHITE PAPER V1 2019
ROBINOS TRADE SHARE WHITE PAPER V1 2019 1
The Opportunity
▪ Lack of liquidity from low trade volumes
▪ Price hikes and crashes on smaller exchanges due to market
manipulation
▪ Trade volumes represented on the exchange they trade on which
doesn’t match their ability to sell / buy coin
▪ Lack of traders on small exchanges
▪ Bots over running the exchanges
▪ To keep small exchanges relevant in the marketplace
ROBINOS TRADE SHARE WHITE PAPER V1 2019 2
The Solution Trade Share, a shared liquidity pool via orderbook sharing algorithms we have
developed to specifically tackle the problem. A revolutionary piece of
technology that will share orders across all partnered exchange platforms for
all users to take advantage of, it will not only increase liquidity but also user
satisfaction from a pricing perspective.
Trade share can potentially open up trading of some low-profile
cryptocurrency, by exposing such cryptocurrency to a larger group of traders,
and at the same time, creating stability over high-profile assets as prices
become more competitive with a combined number of traders around all
partnered exchanges.
Robinos Trade Share has been developed/designed to specifically solve
liquidity issues that we see plaguing smaller exchanges, some exchanges have
10’s of thousands of users but still have poor liquidity, due to a majority of the
users being cold wallet investors (long term) or not being in a financial position
to trade frequently, So when a user wants to trade they will see a flat order
book and then look elsewhere. If this exchange is using Robinos Trade Share,
they can offer their users not only better liquidity and trading options / pairs,
but also access to our white label OTCX.
Support staff and contact center to provide both technical and process support
for our exchange partners. We will use zen-desk to facilitate this.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 3
Table of Contents
Company Overview ............................................................................................ 5
Our Vision ....................................................................................................... 5
Our Values ...................................................................................................... 5
Our Mission .................................................................................................... 5
Our Company .................................................................................................. 6
Our Team ........................................................................................................... 7
Management .................................................................................................. 7
Anton Morris - CEO ...................................................................................... 7
Himanshu Pandey – Lead Developer ............................................................ 8
Neo Wenyuan - CTO .................................................................................. 10
Development ................................................................................................ 11
Security ......................................................................................................... 11
Sales & Marketing ......................................................................................... 11
Legal & Accounting ....................................................................................... 12
The Project ....................................................................................................... 13
Core Product- Trade Share ............................................................................ 13
Pairing on TRADE SHARE ............................................................................ 14
Secondary Product - OTC .............................................................................. 14
New and Follow-on Products & Services ....................................................... 15
Unique Features or Proprietary Aspects ....................................................... 16
Roadmap ......................................................................................................... 17
Project time line ........................................................................................... 17
The Market ...................................................................................................... 18
Industry Overview ......................................................................................... 18
Cryptocurrency Exchanges ............................................................................ 20
Industry Analysis ........................................................................................... 22
ROBINOS TRADE SHARE WHITE PAPER V1 2019 4
Cryptocurrency User Numbers Growth ...................................................... 23
Cryptocurrency Exchanges & Wallets Support More Coins ........................ 24
The Technology ................................................................................................ 25
Trade share ................................................................................................... 26
Arbitrage trading .......................................................................................... 27
Architecture of Trade Share system ................................................................. 28
Trades matching architecture ....................................................................... 31
Going decentralised ...................................................................................... 33
Exchange Segregation ................................................................................... 35
ROBINOS TRADE SHARE WHITE PAPER V1 2019 5
Company Overview
Our Vision
Our vision: To provide cross exchange access to trade orders, increasing
liquidity and flow of cryptocurrency globally.
Our Values
Our core values are simple:
1. Inclusion
2. Accessibility
3. Innovation
4. Security
Our Mission
Our mission is to bring small and medium sized exchanges into a competitive
market position by providing them with cross exchange trade sharing
capabilities enhancing liquidity and user satisfaction, as well as providing
access to our OTC platform.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 6
Our Company
Robinos is a Singapore based technology development company working
exclusively within the blockchain assets industry or cryptocurrency industry as
it is best known. Over the previous 4 years our team has been working with
small and medium sized exchanges providing support and development
services. Robinos has focused on development of technology for
cryptocurrency exchanges and wallet providers, we have identified some clear
issues within the current ecosystem structures and have subsequently
developed a solution.
We are currently developing a cross exchange trading engine to facilitate
multi-exchange buy and sell order fulfillment for individual users from a single
exchange account, this will create a shared liquidity pool between all of our
partner exchanges, driving higher trade volumes, increased accessibility and
fulfilment speeds for all traders who trade on any exchange in the network.
Our core business will focus on our Trade Share technology, we have
successfully developed an OTCX which will also be made available to all partner
exchanges to enhance th eir offering. We will also be operating this as an
independent business.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 7
Our Team Management
Anton Morris - CEO
Experienced Investment and Business Advisor with a demonstrated history of
working in the financial services industry. Skilled in Business and Consumer
lending, Investment Strategies, Managed Investment funds, derivatives, crypto
currency, ICO'S and blockchain technology. Finance professional graduated
from International Institute of Technology.
Availability
Anton’s availability will be 100% to Robinos, once capital is raised, Anton will
re-locate to Singapore full time and remove himself from all other positions.
Anton will run day-to-day management of the company and will bring his
wealth of experience and knowledge to the board. Anton has worked with
several high level start ups across several industries and has the necessary
experience to drive a project forward without compromise.
Expertise:
• Investment Management Experience related to Technology
Development;
• Investment Management Experience related to Business Development.
Deployment:
• CEO- to oversee the entire operation of Robinos and Business
Development Management Team to ensure positive outcomes and maximise
our success.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 8
Himanshu Pandey – Lead Developer
Relentless pursuit of Innovation, Strategy, Technologies/Architectures and
Management. 8+ years of leadership experience in companies and Start-up in
delivering Vision, Leadership, Innovation, Business and Technology Strategy,
Architectures, Consulting and hands- on Development. Expertise in diverse
technologies including Blockchain/Cryptocurrency, IT/Cyber Security, Cloud
Computing with proven delivery of solutions in Financial Services, Healthcare,
Oil & Gas, Transportation & supply chain applications. Leadership, Strategy and
Customer
Availability
Himanshu will use his expertise and lead the development team as the Lead
developer. Himanshu will oversee the entire development team, on the
technical aspects, leveraging on his experiences and technical skills. Himanshu
will be based in New Delhi, leading the backend development team.
Expertise:
Ethereum platform architecture & technologies - EOA Externally Owned
Accounts, Contract Accounts, Smart Contracts, Transactions, Gas, Solidity,
Distributed Decentralized Peer-to-Peer Network Architecture, DApps, DAOs,
Mining, Consensus Algorithms, POW, PoS, Merkle trees, Uncles, Web3JS
Ethereum APIs. Public/Private Key Cryptography, Digital Signatures, Hashing,
Wallets, Multi Signature Wallets.
Cloud Computing & Virtualization Public, Private & Hybrid Clouds, IaaS, PaaS
and SaaS & Container Clouds.
Containers/Docker Docker Engine, Docker Hub, Docker Compose, Docker
Swarm, Docker Registry, Docker Machine. Micro services architecture.
IT/Cyber Security Cloud Security, Cloud Security Alliance Models and Controls,
Information Security Governance and Risk Management, Software
Development Security, Cryptography, Security Architecture and Design,
Security Operations, Business Continuity and Disaster Recovery Planning, Legal,
ROBINOS TRADE SHARE WHITE PAPER V1 2019 9
Regulations, Investigations and Compliance, Web Services Security, Privacy,
Identity and Access Management
Bitcoin Networks, Distributed Ledger, Digital Wallets, Transactions, Blocks,
Mining, Consensus, PoW, Longest Chain, Keys, Addresses, Public Key
Cryptography, Digital Signatures, Pay to Script Hash (P2SH) and Multi-Sig
Addresses, Pay-To-Public-Key Hash (P2PKH) Transaction Lifecycle. MERN
(MySQL, Express, REACT, NodeJS) & HTM, CSS Technologies.
AmazonAWS Compute Elastic Compute Cloud (EC2), EC2 Container Service,
Auto Scaling, ELB, EBS, VPC (Virtual Private Cloud), Cloud Formation, Cloud
Watch, Route 53, DynamoDB, SimpleDB, Relational Database Service (RDS),
Elastic Cache, Elastic Beanstalk, Cloud Formation, Identity & Access AWS
Identity and Access Management (IAM), Application Services Amazon Simple
Workflow Service (SWF), Simple Queue Service (SQS), Simple Notification
Service (SNS).
Microsoft Azure Compute Virtual Machines, Cloud Services and Web Sites;
Network Virtual Network, Traffic Manager & Express Route; Data Services
Storage, SQL Database, HDInsight, Cache, Backup, Site Recovery; Application
Services Service Bus, Multifactor authentication, Automation.
Deployment:
Lead developer- to manage the development team of Robinos, and report to
CTO. Will also manage and develop technical solutions when necessary.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 10
Neo Wenyuan - CTO
Experience in engineering and tech start-up management. 5 years of
experience in engineering, followed by 4 years of founding a tech start-up.
Advised on national level, regarding directions of tech start-ups, and
specialising in blockchain development.
Availability
Neo is based in Singapore, and as the founder of Robinos, Neo will oversee the
tech development, and assist in daily operations of the business.
Expertise:
• CTO of previous start-up
• Development team general management
Deployment:
• CTO- to oversee the tech development progress to ensure timely
delivery. Engineer solutions to some of the tougher operational issues that
might arise later.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 11
Development
Our development team is made up of 35 developers currently, we plan to
expand this to over 55 after our capital raise, the development of each
component will be running in parallel with a core team overseeing and
integrating all key components.
Security
Security of our partner exchange integrations is paramount and we will be
dedicating a team of 15 developers to manage the security testing and
implementation, this team will scale with the business. This team will not only
be protecting our source code from internal attacks or saboteurs but will be
preventing external penetrations of our systems. We have a risk management
process in place to manage the security of our security team which involves
rotating staff and external integrity audits.
Sales & Marketing
Sales and marketing teams will be formed regionally, this will provide us with
local knowledge and support for onboarding exchange partners, as we will be
targeting small and medium sized exchanges we will strategically engage small
cap exchange marketing specialists who not only know the market, but also
have a history of contacts and connections in their regions. This will provide us
with strategic inroads to bring new partner exchanges into Trade Share.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 12
Legal & Accounting
Legal and Accounting teams will be engaged within each jurisdiction we
operate to ensure that by providing our technology to existing or developing
exchanges we do not operate outside the confines of the law in the respective
jurisdiction.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 13
The Project
Core Product- Trade Share
Trade Share is an exchange trade engine, giving access to cross exchange
trading from a users single exchange account, in example a trader on exchange
1 wants to sell 50ETH but here are currently no buyers at the volume or price
that the trader wants, if Robinos software is running on the exchange, the
traders sell order would be shown across multiple exchanges increasing the
likelihood of being able to sell for the price that they want in the volume that
they want to trade. This will effectively help smaller exchanges with fewer
users to facilitate liquidity for their exchange trades. The fees would be
awarded to the selling exchange and to the buying exchanges respectively.
We feel that this will revolutionize the crypto exchange market, with so many
coins falling below market value on independent (small cap) exchanges, the
future needs to have greater liquidity and increased users, by implementing
Robinos software an exchange opens its doors to thousands of additional
traders for both buy and sell orders.
Robinos Trade Share has been developed/designed to specifically solve
liquidity issues that we see plaguing smaller exchanges, some exchanges have
10’s of thousands of users but still have poor liquidity, due to a majority of the
users being cold wallet investors (long term) or not being in a financial position
to trade frequently, So when a user wants to trade they will see a flat order
book and then look elsewhere. If this exchange is using Robinos Trade Share,
they can offer their users not only better liquidity and trading options / pairs,
but also access to our white label OTCX.
Support staff and contact center to provide both technical and process support
for our exchange partners. We will use zen-desk to facilitate this.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 14
Pairing on TRADE SHARE
There will be unlimited pairing capabilities on trade share that will represent
what exchanges want to offer, we will provide the ability to pair ANY-ANY. The
exchange partner will decide what is offered on their exchange platform.
Secondary Product - OTC
OTC trading has started to gain traction over the last 2 years. Reasons why OTC
trading becomes popular
- high net-worth traders having protection over price for big orders
- instant settlement with cash/monies into bank accounts
- can be anonymous, without raising fears and uncertainty over exchanges
when huge sell orders placed.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 15
New and Follow-on Products & Services
Subsequent product - Robinos Chain sub-class assets
- Robinos Chain to be created, with the capability of creating side-chains
of sub-class assets, such as BTC, ETH and any other traded assets on Robinos
- Sub-class assets can be used as a bridge towards decentralisation
- Sub-class assets used to represent BTC, will be used to trade in
exchanges, and held by traders themselves. While the real BTC being traded is
held on cold-storage, and sees minimal transferring to ensure highest security
- Possible use of transferring sub-class assets to a friend using Robinos
Exchange to facilitate lending to a fellow user in Robinos Exchange, and faster
confirmation, without the need to shift any real asset from cold-storage
- R&D to begin Q4 2019, taking priority in safety and feasibility with safety
protocols in place
ROBINOS TRADE SHARE WHITE PAPER V1 2019 16
Unique Features or Proprietary Aspects
Trade Share will unite exchanges globally, providing opportunity and
competitive advantage to early adopting exchanges. We see that the crypto
market is currently rife with wash trades and false data, which exchanges are
forced to do to seem relevant and attract new traders, our technology would
not only eliminate the need for exchanges to do this but would take away their
ability to do so. The Trade Share technology would pave a steady pathway to
decentralization of exchanges in the future. Safer trading environment for all
traders, with funds secured in cold storage, and potentially going self-custodial
for each individual traders in time.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 17
Roadmap
Project time line
Month 1: OTC to be up and running
Month 2: Trade share to be implemented in OTC / Trade Share Development
Started
Month 3: Trade Share Development Backend
Month 6: Trade Share exchange Backend Development Continued
Month 8: Exchange Front End for Distribution to partner
Month 10: Launch of Robinos trade share engine, official start of trade share
function with participating partners
Month 12: Public and Partners Feedback and Improvements implementation.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 18
The Market Industry Overview
The cryptocurrency market is still evolving, and its market capitalization was
estimated to be a staggering $268,337,067,102 on August 18, 2019. Since the
introduction of Bitcoin in January 2009, tens of thousands of cryptocurrencies
have existed at some point, and today, there are 2450 of cryptocurrencies with
a recognized market value via coinmarketcap.com that are being traded. Still,
Bitcoin is the undoubtful leader representing approx. 61.9% of the total market
capitalization, at time of writing this document.
Although it is almost impossible to say accurately how many people use
cryptocurrency, using data obtained from a global study; it is estimated that
there are approximately 139 million user accounts at service providers with at
least 35 million identity-verified users.
There are thousands of projects and companies that have emerged specifically
to provide products and services that facilitate the use of cryptocurrency for
mainstream users and build the infrastructure for applications running on top
of public blockchains.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 19
While the cryptocurrency industry is composed of a number of segments,
there are four key cryptocurrency industry sectors today:
• Exchanges
• Wallets
• Payments Companies
• Mining
We will only look at Exchanges due to relevancy to the Robinos TRADE SHARE
project.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 20
Cryptocurrency Exchanges
Cryptocurrency Exchanges provide a platform for users wanting to buy or sell
cryptocurrencies. The exchange sector is the first to have emerged in the
cryptocurrency industry and remains the largest sector both in terms of the
number of independent companies and employees, albeit dominated by a few
key players, it is the most important to building a sustainable eco system and
the future of cryptocurrency.
The reasons for there being a few dominating the many is simple, it comes
down to; choice, flexibility and liquidity. Obviously UX plays some part in
selecting your exchange to trade on, but our surveys show that liquidity and
choice trump UX every time.
The first exchange was founded in early 2010 as a project to enable the early
adopters/users to trade bitcoin and thereby establish a market price. Since
then the user numbers and coins/tokens tradable has grown more than
2150%.
Today, Cryptocurrency Exchanges provide services to buy and sell
cryptocurrencies and other digital assets for both fiat currencies and other
cryptocurrencies, they also play an essential role in the global cryptocurrency
eco system by offering a marketplace for trading, liquidity and price discovery.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 21
While the global cryptocurrency trading volume is dominated by four fiat
currencies, trading in at least 40 other national currencies is supported. The
exchange market is dominated by a handful of exchanges that are responsible
for the majority of global cryptocurrency trading volumes, of which the lion
share is denominated in a small number of international currencies. In
contrast, the majority of exchanges (mostly small) specialize in local markets by
supporting local currencies. Trading volumes at most small exchanges are
insignificant compared to the market leaders, but these exchanges service
local markets and make cryptocurrencies readily available in many smaller
countries.
Small exchanges seem to have considerable difficulties with either obtaining or
maintaining banking relationships, while large exchanges appear to have this
risk factor under control. Small exchanges are also substantially more
concerned about fraud than large exchanges, which suggests that they are
either targeted more often than large exchanges, or simply that fraud has
more a more severe financial impact due to the limited scale of their
operations and budget.
Traders today demand flexibility and liquidity of their trades, Robinos Trade
Share is the solution to this ever growing issue among smaller exchanges.
Providing cross platform trading to users from all partner exchanges, creates a
liquidity pool of potentially thousands of buy sell orders. Meaning more
competitive pricing and speed of liquidation due to the increase in volume
trading.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 22
Industry Analysis
The crypto market may have taken a tumble this year, but that has not
diminished interest in the technology. Crytocurrency user numbers boom
despite the down turn in price.
According to a report by the Cambridge Center for Alternative Finance, a
research center at the University of Cambridge’s Judge Business School, the
number of crypto users has nearly doubled with the total number of users
registered with cryptocurrency service providers rising from 85 million in 2017
to more than 139 million in the first three quarters of this year.
“Combining public data and survey findings, we estimate that the total number
of user accounts at service providers amounts to at least 139 million in late
2018,” says the report.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 23
Cryptocurrency User Numbers Growth
The number of crypto users rose by more than 60% in 2018. The number of
verified users is now seven times higher than what it was two years ago and
nearly twice the 2017 figure. In 2017, the number of verified cryptocurrency
users was 18 million while in 2016 it was five million. This year the report
estimates the ID-verified userbase has hit the 35 million mark across the globe:
“Using a combination of verified user data and the average share of ID-verified
accounts described above, we also estimate there are currently at least 35
million ID-verified users globally.”
Besides the rise in user numbers, there has also been a fractional increase in
the number of active users. In 2016, the percentage of active users was 35%,
and this rose by a percentage point in 2017 and another percentage point in
2018 to reach 38%.
Another positive development that has occurred in the cryptocurrency
industry in spite of the bear market has been the rise in the number of
cryptocurrency service providers who have added support for multiple digital
assets.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 24
Cryptocurrency Exchanges & Wallets Support
More Coins
Among cryptocurrency exchanges, about 61% of them supported multiple
coins in 2017, but this year the figure has surged to 89%. With regards to
service providers in the cryptocurrency payment segment, multi-coin support
rose from 35% in 2017 to 77%. The highest increase in multi-coin support was
observed in wallets:
"Wallets with multi-coin support surged from 46% in 2017 to 90% in 2018, with
60% of wallets currently supporting more than 3 cryptoassets as opposed to
only 10% in 2017.”
The Cambridge Center for Alternative Finance report also notes that the
number of available trading pairs in the cryptocurrency market has increased
to 9,000 in the fourth quarter of this year from about 6,500. Still, cryptoasset-
only exchanges currently dominate the spot market, boasting 75% of crypto
trading volume.
With regards to crypto-to-fiat trading, the United States dollar dominates with
more than 50% of the volume followed by the Japanese yen with 21% . The
South Korean won is in the third position with 16% of overall fiat trading
volume.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 25
The Technology
Decentralised operation with centralised operators. With shared trade books
among all participating exchanges, centralised exchanges gets to keep their
clients, and business, while users of all centralised exchanges, get to enjoy the
perks of trading in a decentralised environment, such as more trades available
with higher volume, making price extremely competitive.
High profile scams and cash outs happen very frequently in the crypto scene,
and sometimes even with volume high enough to cause a crash in market, and
in order to deter such scams from happening, exchanges has a huge role to
play in. Ultimately, when scams occur, and for scammers to benefit from it,
multiple accounts has to be created in exchanges, and thus, allowing scammers
to liquidate from exchanges. Robinos will aim to be updated with scam
projects, and thus, prevent scammers from successfully cashing out their
tokens, especially BTC. With a big group of exchanges working together, it is
highly possible for many partners of Robinos to be picked for such liquidation.
With intensive wallet tracking, if 'looted' BTC are found to be in any of Robinos
partners, Robinos can prevent such liquidation from happening.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 26
Trade share
Participating exchanges will be able to expose their trade books to all partners,
meaning users, regardless of having account in which participating exchange,
will have the ability to trade, buy or sell, with a larger market which spreads
across all participating partners.
If trading in Bittrex allows Bittrex users to get exposed to potentially USD $36m
in 24hours volume, imagine, having a shared tradebook with Bittrex (36m),
Poloniex (20m) and a few other mid-sized exchange. With trade share, Robinos
can potentially link up all small exchanges, and potentially unify a market.
Exchanges are struggling these days with too many exchanges in the market,
and by allowing such exchanges to retain their identity and users, yet at the
same time, allow these users to close their trades at a higher frequency due to
the merged volume, it will be beneficial for all users, and at the same time, to
exchanges as well.
In order for exchanges/partners to participate in trade share, partners will
need to stake x amount of Robinos token. Amount to be staked will change
every month/quarterly, based on circulating supply. Exchanges staking Robinos
will ensure that, value of Robinos being protected, and traders rewarded for
trading, which in turn allows exchanges to stake Robinos. With more
exchanges joining the Robinos family, value of Robinos token will increase, due
to limited supply to be rewarded over the span of x number of years. When all
Robinos ever to be created is all in circulation, staking amount will reduce,
whenever a new exchange joins in, and will thus allow exchanges to start
selling their Robinos to other new exchanges, so new exchanges can be part of
Robinos, and also potential trade sharing.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 27
Arbitrage trading
Arbitrage trading is a good source of income for exchanges. For exchanges to
take advantage of arbitrage trading, trading volume is extremely important, as
traders do not want to fall into ‘pitfalls’ of arbitrage trades. With the
introduction of Trade Share, partner exchanges will be able to benefit from
more traders, as the volume increases with all shared trades. As volume
increases, partnered exchanges will have what it takes to attract more
arbitrage traders to come in as our prices goes competitive.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 28
Architecture of Trade
Share system
Exchange A, B and C transmits data to and from Core Engine. Core Engine is
another component in trade engine to process encrypted data received into
verification cloud to ensure no discrepancies in trade books, and creates
encrypted data to make sure validity of all verified information. Such
information includes users of exchanges, balance of user in exchanges. Robinos
and Trade Share will only possess encrypted data of exchange traders, so no
sensitive data will be required in any process of data transmitting in and out of
exchange.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 29
With such data transmission, trade share will be able to facilitate its function
seamlessly, and thus, reduce the need of more query on the trading phase
itself to ensure trading speed.
Core Engine will constantly query and forward exchange every second, to
ensure latest data addition and changes. When a query or forward process to
exchange fails, exchanges will be halted from participating in trade share.
With the diagram above, exchange A and B, will be constantly forwarding their
trades to the backend system of trade engine. Whenever data is passed to the
trade engine, tradebook will be rearranged constantly, and at the same time,
matching trades. When trades are made, via instant order matching, details in
core engine will update instantly, and parsed to exchanges in a duplex
manner(figure 1).
ROBINOS TRADE SHARE WHITE PAPER V1 2019 30
Tradebook will constantly be visible to exchanges, and rearrangements can be
seen instantly by traders in their respective exchanges.
So whenever a trader attempts to create an order in Exchange A, the
information will be transmitted to the trade engine, and it’ll be broadcasted in
the tradebook, that is shared with Exchange B.
Minimal information needs to be processed here to guarantee the speed and
efficiency of the creation of trade orders, which increases the need of the core
engine process. With core engine processing, many encrypted information
possessed, will be linked with trades made, and thus, ensuring trades made are
legit, and backed by system constantly. When the trade engine and cloud
process fails to receive an answer from exchanges in the query process,
existing unfulfilled trades will be removed instantly.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 31
Trades matching architecture
(diagram of A & B getting forwarded updated details of their encrypted users
data, and pulling data to ensure accuracy)
(another diagram showing updated tradebook data forwarded to A & B)
ROBINOS TRADE SHARE WHITE PAPER V1 2019 32
Exchange A and B, under the circumstance of trade matching, will receive
queries and emit response to/from core engine. This process is to ensure no
other changes had been made during that second of trade matching. Core
engine will first query both exchanges to ensure both assets have been
deducted from user’s balance, and that both assets are locked, and when both
exchanges emit response, depicting positive that assets are locked and
deducted from user’s balance in both exchange, a trade will be matched.
After the processes made by the core engine, adjusted trade book will be
updated to both exchanges A & B, and users who had their trade matched, will
no longer see their orders on the trade book, and should receive their
respective balance.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 33
Going decentralised
Another benefit for our partners will be, going decentralised together as a
community. Robinos Chain will be created, and sub-assets can be created to
represent assets for trading, while real assets can be placed in permanent cold
wallet. For tokens like BTC with slower confirmation and speed, using side-
chains, sub-assets can allow users to ignore the flaws of bitcoin, and additional
level of security, as withdrawing out the real asset from cold storage will
require a stricter and safer guideline as time goes, potentially another layer of
protection and authentication to withdraw out real assets. Real assets should,
and also be audited on a constant basis to ensure that, the amount of real
assets in cold-storage, is similar to the amount of equivalent sub-assets
created in Robinos Chain.
However at this point, decentralised systems even though, has gained traction,
however, there will still be many expensive lessons to be made in the next few
years. Transition from centralised to DEX will be extremely challenging than
one can imagine, and should not be rushed into it. One of Robinos aim, is to
ease the crypto community into decentralisation, without risking the security
aspects of all users and exchanges.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 34
Robinos chain will be created, and many other side-chains will come out to
represent assets traded with Robinos. An equal amount of specific asset will be
created, depending on the quantities of assets on buy or sell orders. Traders
will then, be trading the sub-assets. Real assets will then be locked when
traders places that buy/sell orders, to ensure settlement when orders are
completed. Robinos chain, will synchronise with Trade engine and Core engine
to facilitate the trades as before.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 35
Exchange Segregation
It will be a pipedream to unite all exchanges, and get everyone to intertrade
with one another. There are 2 main forms of exchange in the market these
days, centralised exchanges governed by a company or organisation, and
decentralised exchanges, where trades are made by traders with automated
processes without any central authority, and traders are charged of their own
assets.
Within centralised regulations, there are certain laws restricting trader and
exchange operators from trading with anybody they want, depending on the
location or jurisdiction of where the exchange is based, and centralised
exchanges are targets of hackers when it comes to cryptocurrency theft, as
centralised exchanges are responsible for their trader’s assets. Whereas in a
decentralised exchange, it is under less influence of local or jurisdiction laws,
as there isn’t a central authority in charged, and at the same time, traders are
in charged of their assets, which means, assets of traders are not stored in a
centralised system, which will require more effort on a blackhat hacker.
However, there are many traders who have no idea how to effectively protect
themselves adequately at this moment. DEX are usually built on top of a
platform which allows creation of tokens or smart contracts, such as Ethereum
and NEM. Such platform restricts trading of assets that’s created on the other
platform, and thus, not giving traders enough reasons to trade on DEXs.
ROBINOS TRADE SHARE WHITE PAPER V1 2019 36
Within our core engine, there will be a segregation, which separate groups of
exchanges that are suitable for intertrading with another, based on limitation
of jurisdiction, requirements of KYC process, and decentralised platforms that
does not require KYC of traders.
With segregation, exchanges can rest assured when it comes to potential
breach of laws in their jurisdiction, and at the same time, maximising their
potential profits from trade sharing.
In future, when the Robinos chain is created, it will be able to facilitate DEX
trading across all assets listed by exchanges, as side-chains are created to
represent traded assets. Real assets will then be held by traders themselves.
With this structure, lesser movements of the real asset will be required by
traders of their traded assets, which then limits movement of real assets,
making it more sensitive to any movements from such real assets, and possibly
adding more security measures to withdrawal of real assets.