How to develop the exchange system? Mature technology case of digital currency exchange system development

　　An exchange is an information platform for trading certain information and commodities.The fixed place required is called an exchange.With the help of the information platform,the exchange has realized property right information sharing,off-site trading,unified coordination,property right trading market and balance of various terms.

　　 One 、 What is a contract deal ？

　　1、 Contract transaction refers to the agreement between the buyer and the seller to receive a certain amount of certain assets at a specified price at a certain time in the future . The trading object of contract trading is the standardized contract formulated by the exchange , The exchange regulates the type of its goods , Trading hours , Standardized information such as quantity . The contract represents the rights and obligations of both parties .

　　 To put it simply, it means making an appointment to trade a certain number of certain commodities at a certain time and place in the future .

　　2、 Contract trading is a financial derivative , Trading relative to the spot market , Users can judge the rise and fall of futures contract trading , Choose to buy long or sell short contracts , In order to get the benefits of rising or falling prices .

　　 Two 、 Role of contractual transactions ？

　　 The original intention of standardized contract design is to hedge the spot risk , In order to lock in the cost of revenue , Hedge against the risk of large fluctuations in spot prices , Companies or individuals engaged in bulk commodity trading will be short orders of the same position in the futures market （ More single ）, To protect against risk .

　　 The digital asset contract represented by bitcoin usually adopts price difference delivery , At the end of the contract , The system will carry out delivery and settlement for all open positions at the delivery price .

　　 3、 ... and 、 The rules of contract trading

　　1、 Trading hours

　　 What is the contract deal 7*24 Hour trading , Only on Fridays 16:00（UTC+8） Trading is interrupted during settlement or settlement . The contract ends before delivery 10 minute , You can only close out , Can't open a position .

　　2、 Type of transaction

　　 There are two types of transactions , Opening and closing . Opening and closing , There are two directions: buying and selling ：

　　 Buy CADO （ Bullish ） It means when users are bullish on the index 、 When it's bullish , Buy a certain number of new contracts . Conduct “ Buy CADO ” operation , The successful match will increase the long position .

　　 Sell Pinto （ Multiple closing positions ） It refers to the selling contract that the user will not be bullish on the future index market and make up for it , Offsetting the exit from the market with the current holding of the buy contract . Conduct “ Sell Pinto ” operation , A successful match will reduce long positions .

　　 Sell short （ Bearish ） When a user is short on an index 、 When bearish , New sales of a certain number of certain contracts . Conduct “ Sell short ” operation , A successful match will increase short positions .

　　 Buy flat （ Empty order closing ） It refers to the purchase contract that the user will not be bearish on the future index market and make up for it , Offsetting the exit from the current market holding of hedging contracts . Conduct “ Buy flat ” operation , A successful match will reduce short positions .

　　3、 How to place an order

　　 Limit order ： Users need to specify the price and quantity of the order . Limit order can be used for opening and closing positions .

　　 Place an order at a rival price ： If the user chooses to place an order at the opposite price , Then the user can only enter the order quantity , You can't enter the order price any more . The moment the system receives this delegation , Read the latest competitor price （ If users buy , Then the opposite price is to sell 1 Price ; In order to sell , The other price is to buy 1 Price ）, Issue a price limit order for this counter price .

　　4、 Position

　　 After the user opens the position and completes the transaction , That is, having a position , Positions in the same direction of the same contract will be merged . In a contract account , At best 6 Positions , That is to say, there are many contracts in the current week 、 The contract is short for the week 、 The next week's contract is long 、 Next week's contract short 、 Quarterly contracts are multi position 、 Short quarterly contracts .

　　5、 Order restrictions

　　 The number of positions held by the platform for a single user in a certain period of contract 、 Single opening / There will be a limit on the number of orders to close out , Prevent users from manipulating the market .

　　 When the user's position or entrusted quantity is too large , When the platform thinks that there may be serious risks to the system and other users , The platform has the right to require the user to use, including but not limited to cancellation , Risk control measures such as closing positions . The platform has the right to limit the total number of positions, including but not limited to , Limit the total number of consignments , Limit opening , cancel the order , Take measures such as forced liquidation to control risks

　　 What are the benefits of blockchain digital currency exchanges ？

　　 The advantage of exchange on the blockchain is that the exchange does not hold a large number of cryptocurrencies from users , All cryptocurrencies will be stored on the blockchain and controlled by users' wallets or smart contracts . An exchange that would have needed trust centralism , Now you just need to trust the blockchain and smart contracts . Most of the smart contracts used in exchanges will be open source so that everyone can confirm the details of the contract .

　　 The central exchange usually does not disclose the source code of trading details , In fact, only its insiders can know how to operate . Open smart contracts maintain the transparency and security of the transaction process , Even if there is profit in the split, it will also be disclosed on the blockchain .

　　 Strong dependence ： Application software must be supported by computer hardware and system software to work , It can't exist and function independently ;

　　 Strong interaction ： Even the simplest application software has certain interactive functions , For example, the operator's error prompt , This is a IT The most fundamental superiority of the industry products is embodied in ;

　　 It's infinite in number ： Digital assets are scarce as assets , But its supply can be unlimited . The tangible assets are limited by the property and storage space of the enterprise , It's always limited ;

　　 What is an exchange ?

　　 exchange , As the name suggests, it is the center for the trading of certain commodities , The same is true of digital currency exchanges .

　　 Digital currency exchange is divided into centralized exchange and decentralized exchange .

　　 Centralized exchanges usually do not disclose the source code of trading details , Open smart contracts maintain the transparency and security of the transaction process .

　　 And decentralized trading platforms , Every transaction is transparent through the blockchain . At the same time, the decentralized trading platform , Not responsible for keeping the user's assets and private keys .