Altibase Is Adopted by CoreDAX, a Cryptocurrency Exchange, for Management of Key It Functions of Matching, Data Distribution and Ledgers
CoreDAX is a cryptocurrency exchange created by Neoframe. Since 1999, Neoframe has specialized in market data processing and trading systems for various securities companies in the APAC region.
CoreDAX currently trades 17 cryptocurrencies including Bitcoin and Etherium.
CoreDAX wanted to gain its competitive advantages over existing cryptocurrency exchanges by providing high performance and reliable services. Its legacy disk-resident databases, however, were far from satisfying the requirements.
- Its system should not tolerate any downtime. 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.
For CoreDAX, Altibase was a textbook database. Altibase‘s in-memory capabilities met CoreDAX’s requirements for high performance, product reliability competitive pricing. In addition, Altibase’s quality reference customer list was a critical factor for the choice – over 600 global enterprise clients including 8 Fortune Global 500 companies.
Net results were:
- 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.
After nearly 20 years as a closed-source database, Altibase is now open source, and that includes its cutting-edge scale-out technology, sharding.