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Crypto exchange Bithumb establishes blockchain R&D center

Tue, 07 Jan 2020, 12:47 pm UTC

South Korean cryptocurrency exchange Bithumb has established a research center in order to strengthen its blockchain R&D capabilities and exchange operation.

In an online post on Monday, the exchange said that the center will consist of around 30 people. In addition, external personnel, such as information technology (IT) experts and professors, will be appointed to provide advice and technical support for future research projects.

The R&D center has three research teams focused on blockchain, architecture, and development:

The blockchain research team will aim to enhance system security and conduct an analysis of public blockchain transaction analysis and cryptocurrency private keys. As per the details, the team will analyze the blockchain to extract cryptocurrency trading transactions. In collaboration with the exchange, it will develop technologies that can generate user addresses and help better manage deposit and withdrawal processing services, The Korea Times reported.

“In addition, the company plans to develop security enhancement technologies … so that private keys can be safely stored and used conveniently,” Bithumb added (via online translation).

The architecture research team will focus on architecture design for high-performance transaction matching systems that can respond to high volume orders. In addition, it will also work towards facilitating high-performance data exchange between blockchain and exchange database in order to enhance the operation speed and optimize the use of stored information.

Lastly, the development research team is tasked with conducting research on improving the efficiency of overall service interface through the establishment of API gateways, the advancement of cryptocurrency exchange back-end modules, and the advancement of matching engines.

"Bithumb is the only firm (in Korea) with a research center devoted to blockchain and cryptocurrency studies," a Bithumb official said. "The center will help the firm become a blockchain-based comprehensive financial platform whose service will encompass big data, security and online trading systems.”

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