Asia Broadband (OTC PINK: AABB)’s proprietary cryptocurrency exchange (the “Exchange”) is planned to enter testing in mid-August with the live launch to be expected around early September.
Asia Broadband (OTC PINK: AABB) recently launched gold token AABBG as well as their AABB wallet made a successful start on release. Now the company is currently developing their own Cryptocurrency Exchange version of AABB Wallet and has reached numerous development milestones in its initial month of building.
The main purpose of Exchange is to allow AABB Wallet users to quickly complete two-way exchanges of their AABB Gold tokens for other major cryptocurrencies. The major system components planned for completion in the upcoming months are:
- Cold wallet
- Web-versions of the wallet and Exchange
- Transaction fee mechanism
- Trade platform
- Reporting system
And as for the highlights for the first month of the Exchange development that was focused on preparing the network, platform, design, and algorithms:
- The improvement and optimization of the network foundation
- adding additional visitor capacity
- The blockchain network was upgraded.
- Design for the iOS, Android, and Web-version of the Exchange has been completed.
- KYC protocols began the streamlining process for the Exchange.
Recently one of the world’s leading gold producers, Mark Bristow, commented about the precious metals sector and the importance of cryptocurrencies: “Gold is still too hard to own [and] to trade. The ETFs were a big boom to our industry. A lot of miners felt that it would negatively impact the equities. It was completely the opposite. It grew the industry. It made it more transparent. It allowed people to trade,”. That is why Asia Broadband’s Gold token will use this factor to make a crypto token backed by gold. Using the best of both worlds, AABBG Token has in their eyes laid the foundation to become a worldwide standard of exchange that is said to be secured and trusted with gold backing.
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