CoreDAX, a cryptocurrency exchange which currently trades in 17 cryptocurrencies, adopted Altibase for managing its IT functions such as matching, data distribution, and Ledgers. The motive of CoreDAX behind this move was to attain its competitive advantages over other existing cryptocurrency exchanges by providing high performance and reliable services to its clients.
CoreDAX, the cryptocurrency exchange was created by Neoframe in 1999. Neoframe provides an excellent service in market data processing and trading systems for securities companies in the APAC region. However, it couldn’t satisfy the requirements of CoreDAX which made the latter to opt for Altibase.
The cryptocurrency exchange wanted to avoid downtime in its system and its database to provide a high level of product maturity as well as stability. It demanded robust disaster recovery and the processing of millions of transactions with less response time. In addition to this, it wanted its database to process transactions for over 300,000 concurrent logins.
Altibase’s in-memory capabilities managed to satisfy CoreDAX’s requirements to ensure high performance, product reliability, and competitive pricing. Apart from this, it was Altibase’s quality reference customer list, which made CoreDAX choose Altibase over other popular global database companies. After the use of Altibase database management service, CoreDAX has been able to process over 2 million transactions per second in matching engine.
Altibase’s encryption algorithm has ensured the protection of data of CoreDAX which has ensured a high-level of security for financial transactions. With the help of Altibase, the cryptocurrency exchange has managed to lower its TCO because the hardware costs of CoreDAX has reduced significantly due to the in-memory capabilities of Altibase. Because of this, it has managed to provide better performance on equivalent servers and hardware as compared to disk-resident databases.