|By PR Newswire||
|August 5, 2014 11:00 PM EDT||
BEIJING, Aug. 5, 2014 /PRNewswire/ -- OKCoin, Inc. (www.OKCoin.com), one of the world's largest bitcoin exchanges, today announced the addition of futures trading to its platform, becoming one of the first major bitcoin exchanges in the world to enable its users to trade futures denominated in bitcoin.
The offering of futures trading addresses one of the key challenges facing bitcoin as a currency -- volatility. Fundamentally, a futures contract allows a user to 'lock in' a future price for bitcoin. Anticipated users of bitcoin futures include merchants and miners who want to secure a price for bitcoin they expect to receive in the future, and investors who want to take a position on the future price of bitcoin. OKCoin now offers those in the Bitcoin ecosystem additional tools to reduce their exposure to volatility.
"We continue to build the bitcoin trading platform of the future, bringing institutional and professional trading tools to digital currency investors," said Mr. Star Xu, Founder and CEO of OKCoin. "Today's launch of bitcoin futures trading capabilities builds on the algorithmic trading tools we pioneered and launched on our platform last month. We have already seen a favorable response from institutional and individual investors. We are helping to make participation in Bitcoin a more safe and stable process. The ability to trade futures will further cement our position as one of the world's leading bitcoin exchanges."
Futures trading is an important step forward in the stabilization of the bitcoin investing sector, in the following ways:
- Bitcoin futures provide a way for bitcoin earners to lock in a future price and minimize risks associated with volatility.
- Sophisticated investors will be able to utilize higher leverage opportunities for price speculation.
- By moving the volatility away from the underlying asset, derivatives trading allows for decreased volatility and increased predictability of bitcoin prices.
Mr. Changpeng Zhao, OKCoin's Chief Technology Officer commented, "To ascertain that we are gathering accurate pricing data, OKCoin will be using a comprehensive USD price index derived from prices on 10 different bitcoin exchanges. The ability to trade futures allows investors to minimize risk in bitcoin trading, a major factor to bitcoin's increasing adoption." Mr. Zhao is an industry veteran, whose career has been focused on developing trading technologies for financial institutions. He previously served as Head of R&D for Bloomberg Tradebook Futures in New York, as well as Head of Development for Blockchain.info.
The beta-launch is expected to have a duration period of two weeks, after which point it will go live.
OKCoin is a Beijing-based digital currency exchange. OKCoin was founded in June 2013 and is now the largest Chinese exchange by volume traded. OKCoin is led by a strong management and technical team with Star Xu as CEO and ChangPeng Zhao as CTO. In March 2014, OKCoin announced that it had received over US$10m in venture capital financing from well-known investors, including Ceyuan Capital, Venture Labs and famed Silicon Valley investor Tim Draper.
For further comment, please contact [email protected]
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Aug. 29, 2015 11:00 AM EDT Reads: 207
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Aug. 29, 2015 11:00 AM EDT Reads: 175
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Aug. 29, 2015 10:30 AM EDT
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Aug. 29, 2015 10:15 AM EDT Reads: 409
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Aug. 29, 2015 09:30 AM EDT Reads: 428
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Aug. 29, 2015 09:30 AM EDT Reads: 836
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Aug. 29, 2015 09:15 AM EDT Reads: 155
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Aug. 29, 2015 08:45 AM EDT Reads: 570
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Aug. 29, 2015 08:45 AM EDT Reads: 165
Everyone talks about continuous integration and continuous delivery but those are just two ends of the pipeline. In the middle of DevOps is continuous testing (CT), and many organizations are struggling to implement continuous testing effectively. After all, without continuous testing there is no delivery. And Lab-As-A-Service (LaaS) enhances the CT with dynamic on-demand self-serve test topologies. CT together with LAAS make a powerful combination that perfectly serves complex software developm...
Aug. 29, 2015 08:00 AM EDT Reads: 130
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
Aug. 29, 2015 07:45 AM EDT Reads: 549
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Aug. 29, 2015 07:45 AM EDT Reads: 117
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
Aug. 29, 2015 06:00 AM EDT Reads: 370
U.S. companies are desperately trying to recruit and hire skilled software engineers and developers, but there is simply not enough quality talent to go around. Tiempo Development is a nearshore software development company. Our headquarters are in AZ, but we are a pioneer and leader in outsourcing to Mexico, based on our three software development centers there. We have a proven process and we are experts at providing our customers with powerful solutions. We transform ideas into reality.
Aug. 29, 2015 05:45 AM EDT Reads: 503
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Aug. 29, 2015 05:30 AM EDT Reads: 342