Phemex successfully files a cutting-edge patent application to solve common crypto exchange platform problems, improving the trading experience for its users
Phemex, a leading crypto exchange platform, recently filed a successful patent application with the Intellectual Property Office of Singapore (IPOS) that addresses two common blockchain exchange platform issues, namely system refresh outages and network cable disconnection during periods of high traffic. After a year of extensive development, Phemex has already applied this advanced technology to its Margin Trading product, greatly improving the trading experience for its users. The new technology will soon be available for unified accounts and new Web3 products.
Phemex’s advanced patented technology specifically addresses two problems that have long plagued the industry:
System upgrade outages.
Exchanges are frequently shut down during system upgrades, which is a major problem that causes significant downtime that can lead to frustration, lost opportunities and profits for traders. Phemex’s innovative technology ensures that the exchange continues to run smoothly during system upgrades, providing a seamless trading experience.
Disconnection of network cables during periods of heavy traffic
Another common problem faced by exchanges is the disconnection of network cables during periods of high traffic. This can cause the exchange to be unavailable, hindering traders’ ability to execute trades when they need it most. Phemex’s technology addresses this problem by ensuring that the system can handle high levels of traffic without any interruption, which always allows for smooth exchanges.
Phemex successfully applies advanced technology to margin and futures trading
Phemex launched its Margin Trading product earlier this year and successfully applied this new patented technology to it. The technology has been instrumental in providing traders with a seamless trading experience on the platform. The Company plans to apply this technology to unified accounts and new Web3 products in the future, which will further enhance the trading experience for its users.
Stella Chan, Head of Marketing at Phemex, said, “Phemex has always had a laser-like focus on improving the trading experience for our users, and this will certainly continue in the future. This successful patent application for our cutting-edge technology is a testament to this approach and goes hand in hand with our strong commitment to constantly upgrade our own products as we apply centralized product capabilities to future decentralized services.”
The successful filing of Phemex’s patent application accelerates the resolution of the most common issues faced by blockchain exchange platforms and clearly illustrates the company’s innovative spirit and willingness to continuously improve the trading experience for its users. With plans in the pipeline to apply this technology to future products, Phemex is poised to continue to provide its users with a reliable and seamless trading experience.
About Phemex
Phemex is a certified crypto exchange that provides an efficient and transparent trading experience with a commitment to comprehensive asset protection backed by state-of-the-art security technologies and the Merkle-Tree Proofs-of-Reserves practice. Founded by a team of industry veterans, Phemex offers 24/7 customized solutions, which facilitate users’ crypto wallet creation through its scalable, low-latency environment, as well as a fair matching system that ensures pricing and time are prioritized.