When it comes to the world of BItcoin, altcoins and digital currency in general, exchanges are always an integral part of the conversation. Not just the Bitcoin/fiat currency exchanges, but also the Bitcoin/altcoin exchanges, or even the altcoin/altcoin exchanges. EmpoEx is a new exchange with quite some interesting aspects.
One of the main things some of the more established non-fiat currency exchanges out there lack, is an easy-to-use platform. Users, especially novice users, want all of the information on one screen, and not scroll through different pages to find things. EmpoEx aims to be one of the most intuitive and functional exchanges in existence, which can only be a good thing for digital currency adoption.
EmpoEx Main Features
When I say users want all of their information in one screen, that also means any information related to their orders being executed. EmpoEx has, like other exchanges, incorporated event notifications, which can be configured for both on-site use, as well Email Event Notifications. Small things like these can go a long way when building up a reputation as a digital currency exchange.
Not everyone is interested in finding out what each and every cryptocurrency is trading at right now. Users can get the information, such as the current trading prices for DarkCoin and Litecoin, about the coins they follow through the LiveTrade View and Global Sidebar.
I did mention it before, EmpoEx’s main (visible) ace in the hole is their Single Page Cryptocurrency Trading Platform. Not just because it holds all the necessary information, but also because all of the exchange’s tools are at your disposal at any given time. Simplicity and ease-of-use done right, to put it mildly.
As soon as a new digital currency exchange launches, there is the immediate worry about whether or not the platform will be secure enough. Insufficient security has been the downfall for a handful of exchanges over the past year, but security is not something you have to worry about when it comes to using EmpoEx.
The status of any coin listed on the EmpoEx exchange can be checked by all users at any time. By checking on the status, you can see deposit and withdrawal statuses for every coin , as well as relevant information when there is a downtime or maintenance. A very nice feature , as no exchange user wants to be left in the dark where his or her favorite coin is concerned.
When depositing funds into EmpoEx, all of the money will be immediately transferred to cold storage as part of their Instant Cold Storage security protocol. In case of the exchange being compromised, all user deposits will be safe and accounted for.
It is hard to imagine using any online service these days which doesn’t allow for Two-Factor Authentication. EmpoEx offers this security layer as well, by using both Email code generation and Google Authenticator. 2FA is mandatory for all EmpoEx users and staff.
The EmpoEx frontend is hosted on servers which are hardened against common attack methods, and these servers are protected by a locked down firewall only allowing access from specific traffic. On top of that, all servers require a secure VPN connection before granting access.
The EmpoEx backend, which takes care of everything related to orders, withdrawals and trade matching, is a segregated engine. Anything being executed from the frontend is verified by the backend, and wallet servers are deployed with separate user accounts in order to prevent any form of malicious code attacks.
Some of these malicious code attacks include the more common strategies such as SQL Injection and XSS attacks. The EmpoEx codebase has been thoroughly checked and verified for prevention against such attempts. User passwords are encrypted with bcrypt salt n botht he client and server side, to offer maximum security
Other “normal” security features such as HTTPS connections and a proper SSL certificate are also in place. EmpoEx traffic is routed through CloudFlare, which will block Denial-of-Service attacks and provide a continual fast user experience.
“Our Security Research department is continually looking for new exploits and vulnerabilities in our code and infrastructure to make sure that when a problem is found, it’s resolved in a timely fashion. As part of our security policy we welcome all security researchers to test our code and infrastructure as this helps us and in turn helps the community and our users.
Any exploits/vulnerabilities that are found should be submitted directly to the Security Department via our Support Ticket system. We will vet all submits and reward with a bounty ranging from 0.01 to 0.1 BTC. Despite this, EmpoEX is not designed to be a Crypto-Currency bank, and we strongly advise users to take caution when storing large amounts on-site for long periods of time.”
EmpoEx Future Plans
Even though EmpoEx is currently in open beta, the team is already looking to add more features and functionality to their platform. Fiat currencies such as USD, EUR and GBP are being looked at, but will require some licensing which could take a while to sort out.
An API for both Data and Trading functionalities will be added in the future as well. I’m sure this will sound like music in the ears of many developers and users alike. No official ETA was provided at this point, but we will keep an eye out for more information.
Other upcoming features include more site themes (although there are three themes available right now), a unique user incentive system (looking forward to that) and a complete merchant platform with API for easy implementation.
EmpoEx Release Schedule
I did mention EmpoEx is currently in open beta, although users have to request a beta invite code through IRC (click here for details). This open beta will last for two weeks, and during this period all trading fees will be 0.01%. The initial coins have been listed, and the team will look at all feature/coin listing requests during these two weeks.
EmpoEx will launch the “full” version of their platform once the open beta phase has ended. No user data or order history will be lost during this transition. There will be a maintenance window during which final checks on the systems will be executed, allowing for smooth full-scale operations.
The incredibly low trading fees of 0.01% will continue for a full week after the official launch took place. After this seven-day period, normal trading fees will be in effect at the rate of 0.2% for all buy and sell orders.
Initial Coins Listed on EmpoEx
The initial coins listed on EmpoEx is a relatively short list, but some of the most prominent altcoins are included. XCurrency, BlackCoin, DogeCoin, DarkCoin, Litecoin, MaxCoin, SlimCoin, StartCoin, SysCoin, VideoShares and VeriCoin. XCash and ArchCoin will be added overnight.
Website : https://empoex.com/
BitcoinTalk : https://bitcointalk.org/index.php?topic=824587.0
Twitter : https://twitter.com/EmpoExchange
Facebook : https://facebook.com/EmpoExchange
Community Forums : http://support.empoex.com/discussions