Cybex in Japan: Decentralizing the Exchange’s Five Core Functions to Solve Security Issues

Reporter: pencil boxn
The Disruption in Financial Services Event hosted by True Global Ventures was successfully held on January 25, 2018 at the NYU School of Professional Studies Tokyo. Financial technology start-ups and industry leaders came together to deeply use blockbuster application real-world use cases to solve practical problems and identified the main areas of application that should be put into production.n
The Cybex team was invited to attend the event as a blockchain startup focused on decentralized exchanges. During the event, CYBEX co-founder and product manager Yan Yan exchanged views with many industry leaders on technology and ecology and shared the core functions of Cybex and the application of blockchain technology. It is worth noting that Mike Kayamori, CEO and co-founder of Quoine, also shared the interpretation of Japan’s compliance policies on projects. He mentioned that licensed digital currency exchanges are responsible for conducting rigorous audits of projects when they carry out project sales. Users can use the yen to participate in the purchase after the approval, and the Exchange should assume any problems that arise from the sale. Cybex is currently working with Japan’s second batch of compliance applications to develop compliance functions.n

Pain points: security issuesn
At the event, Yan talked with experts about the security of a centralized exchange, and its safety as a decentralized exchange has been a major concern for most investors. Mt. Gox, the DAO incident has heard a lot in the industry, but in 2017 there have been many centralized platform black events, all without exception, Youbit, Bithumb, CoinDash, etc. have been numerous, hundreds Thousands of funds stolen, investors are also increasingly lost confidence in the centralized platform and the traditional ICO model.n
And that’s where Cybex comes into play as a future trading system based on the graphene blockchain.n
In this regard, Yan said all transactions going to a centralized exchange are carried on the chain and are safe, transparent and not fraudulent.n
Cybex 5 core featuresn
Chen Yanfeng at the event to share with you the five core functions of Cybex, although Cybex is considered a bifurcation of Bitshares, but it brings a series of Bitshares does not have the following improvements and features.n
1, atomic transactionsn
Atomic trading refers to the realization of cross-chain transactions between two currencies without having to trust a third party.n
What is the meaning of this?n
At any time in the past, we had to trade between two currencies, such as BTC and ETH, either by the exchange or by acquaintances.n
But exchanges and people will always be a subject of trust and can not be fully trusted. People may cheat, the exchange will collapse.n
The atomic transactions, making each currency exchange, no longer need to believe any third party, only need to trust the system.n
On September 22, 2017, Charlie Lee’s first trial of atomic transaction was successful: LTC successfully swapped with BTC.n
This time, CYBEX is expected to be the first decentralized exchange for atomic transactions.n
2, hosting gatewayn
With our ecosystem partner Nebula Crypto-Assets, CYBEX has hardware multi-signature crypto asset trusteeship capabilities built into the gateway.n
This feature securely locks the private key in the hardware of the USB key and does not enter the memory of any server.n
3, go to the center of the publicn
CYBEX allows users to publish their own assets and launch a public offering.n
In addition, a set of pre-coded templates is provided to help users get started right away.n
One such solution is the interactive coin offering jointly proposed by Vitalik Buterin and Jason Teutsch, which has been included since the launch of CYBEX.n
4, the price of a stable currencyn
CYBEX will introduce a stable price of convertible fixed asset currency to help facilitate the transaction and minimize the volatility of encrypted assets.n
This will be achieved by automatically adjusting supply and demand using Bitcoin-based collateral in combination with dynamic interest rates.n
5, hardware cold walletn
CYBEX partners with Nebula Crypto-Assets Custody for a custom cold wallet based on multiple signing / secret sharing algorithms to provide additional security to the gateway’s key crypto assets (for example, 95%).n
At the same time CYBEX also provides optional client hardware cold wallet.n
As of 2018, the CYBEX mobile app, multi-signature and multi-currency support for client wallets, atomic transactions in wallets, and hardware wallet prototypes with fingerprint sensors associated with CYBEX accounts will be released one after another.n

CYBEX core teamn
Gong Ming, a runaway priest, is one of the first people to translate BTS white papers in China.n
As an early evangelist in the industry, he led the love of Western Europe AGE as the largest platform for love Western Europe, set off a global love of Western Europe frenzy. His life experience is quite dramatic, but also quite tough.n
His past five years of industry experience and accumulation of resources, CYBEX provides a strong support.n
Wang Jianbo, a veteran trader, previously worked for Deutsche Bank, Citibank and Credit Suisse Securities. His wealth of trading experience, as well as market maker resources, will provide support for system refinement and liquidity.n
Advisory Team n
More Cybex Team Refer to Cybex official website: http://cybex.ion
I believe the power of technology, the user first, protect the interests of investors, concerned about the healthy development of the industry.n
CYBEX team requires that every employee uphold the same corporate value philosophy, constantly polished products, and strive to bring users a better user experience.n

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