Coinspeaker
Blockchain to Blockchain Transactions on ICTE

Most exchanges offer a centralized trading environment – where they store your crypto on their wallets and let you trade via their order book. Centralized exchanges pose a threat of security, lower liquidity, and market manipulation.

Decentralized exchanges, on the other hand, are more secure but tend to be limited to a particular blockchain. A decentralized exchange based on Ethereum, for example, cannot trade any Tron-based tokens. Interplanetary Crypto Token Exchange or ICTE has opened up new possibilities of trading by enabling blockchain to blockchain transactions.

Based on an optimized Proof-of-Stake model, ICTE is creating a network of decentralized exchanges that work together to create a next-generation DeX that balances speed, security, and user experience.

ICTE is a collection of regional exchanges that run independently but share the liquidity and are governed by the tenets of decentralization. ICTE has multiple layers of decentralization. The first layer is the ICTE Seeders, which are truly decentralized because they are spun up with no dependencies on other instances, and can find each other only through mutual connections with other instances. ICTE’s second and third layers are formed as hierarchical connections between the instances.

The role of Alpha is to summarize the output of their member pool and they receive rebates based on their contribution. With this complex setup, ICTE still manages to settle cross-blockchain transactions to support high-frequency trading.

As the crypto market grows, there will be many more blockchains that will serve different purposes and will have different features. For example, Litecoin boasts of a faster settlement period while Ethereum’s appeal is because of its flexibility in creating Distributed Apps. XRP is being widely used in the Banking and Finance sector while Bitcoin is still the king when it comes to storing value. More blockchains will be launched and they will all cater to specific use cases.

But as users, we do not want to deal with different exchanges and apps to buy and sell each of these tokens. As distributed apps gain popularity, there will be demand for a single-engine or an interface that can talk to multiple blockchains and settle transactions on all of them, and the engine may hardly be visible. A user does not want to pause and convert their XRP while playing a game that uses Tron tokens. These can happen in real-time as more industries integrate with ICTE in the future.

ICTE’s global messaging system talks across the exchanges to ensure liquidity, communicate orders, and pass messages across nodes and exchanges when order is matched. This also enables settlement on different blockchains and is useful because of its low latency. This ensures optimum speed for processing each transaction.

ICTE boasts of a matching engine that is distributed across exchanges on ICTE nodes. Matching engines have nanosecond timestamps. Orders are routed to these engines via APIs. These orders are stored in a global order book for a pre-defined time period or until they match with another order.

Based on FIFO (first in, first out) method, these orders are processed. Confirmations are sent to the market data publisher and to the client. Blockchain entries are made for validation. ICTE has a Byzantine Fault Tolerance (BFT) test that validates the transactions fast and with utmost security.

With the above model, ICTE is solving two use cases: one for the trader and one for the everyday user. With a fast settlement-cycle, low transaction fees, and global decentralization and distribution, ICTE is creating a platform for high-frequency traders to begin trading cryptos with a speed that is unprecedented in decentralized exchanges. The team at ICTE is very experienced in trading,

Blockchain-to-blockchain transactions are the future. ICTE is a front runner in this technology. Once it reaches a certain number of users, exchanges and nodes, the tipping point, it will be used by traders and service-providers alike.

Blockchain to Blockchain Transactions on ICTE

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