CoreDAX, a cryptocurrency exchange, adopts Altibase for management of its core IT functions of matching, data distribution and ledgers.
Use Case: Cryptocurrency Exchange
Current Customers: CoreDAX
CoreDAX is a cryptocurrency exchange created by Neoframe. Neoframe specializes in market data processing and trading systems for securities companies. Established in 1999, Neoframe has pioneered the development of home trading systems for major brokerage houses in Korea.
CoreDAX currently trades 17 cryptocurrencies including Bitcoin and Etherium.
CoreDAX wanted to gain its competitive advantages over other existing cryptocurrency exchanges by providing high performance and reliable services. Its legacy disk-resident databases were far from satisfying the requirement.
- Its system should not tolerate any downtime which will lead to litigation, financial and reputation risks. Thus, the new database should provide an extremely high level of product maturity and stability.
- The new database should provide robust disaster recovery and high availability features.
- The new database should be able to process millions of transactions per second and response times measured in microseconds.
- It should also be able to process transactions for over 300,000 concurrent logons.
- It should also provide the best ROI available in the market so that its TCO could be lowered as much as possible.
For CoreDAX, Altibase was a textbook database. Altibase’s in-memory capabilities met CoreDAX’s requirements for high performance, product reliability, and reasonable pricing. All other databases tested by CoreDAX were short of its expectation and requirements. CoreDAX finally chose Altibase.
- Altibase’s quality reference customer list was a critical factor for the choice. In particular, the list includes major securities companies such as a top Japanese securities company and major companies in China and Korea.
- Altibase’s close to 100% retention rate among the securities companies in the past 20 years was another appealing factor.
- CoreDAX currently processes over 2 million transactions per second in matching engine and over 100,000 orders per second with latency in under 100 microseconds.
- It can handle over 300,000 concurrent logons.
- By applying Altibase’s encryption algorithm to protect data, CoreDAX secures a high level of security required of financial institutions.
- CoreDAX is enabled to provide its “Cool Wallet” which allows coin transmission only when time control technology and authentication value are confirmed.
- CoreDAX has lowered its TCO as Altibase reduces hardware costs as it in-memory capabilities allow for better performance on equivalent servers and hardware than disk-resident databases.
Altibase – Downloading is Believing.