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Behind the Scenes of a Transaction within AllStocks Exchange Platform
Hi there, Crypto-Community!
In our last weekly video update, Kobi demonstrated the new upgrades of our recently launched Prototype V2, which primarily revolve around our exciting new integrations with the NASDAQ and Blockchain. We consequently thought it would be a good idea to focus a little bit on these extraordinary integrations and highlight their tremendous significance.
First, here’s the video:
Now let’s slow down and review what’s going on behind the curtain of our system when a user executes an order as it is demonstrated in the video.
On the trading page, the user first makes an order to buy a certain asset. In this case, the user orders to buy 15 Facebook shares in the price of $193 a share (current price is just a little below $192). For the sake of the demonstration, we marked the box that indicates to our system to force the execution of the order at the outer exchange (the NASDAQ in this case). Please note that it is recommended to allow the system to first search for available shares WITHIN the system that might grant lower prices and commissions.
After the user confirms the transaction details, the order immediately reaches the outer exchange – the NASDAQ – where it is executed at once. You can see the behind-the-scenes integration of our system with the NASDAQ here:
After the shares are acquired, our system promptly issues ERC-20 backed tokens that stand for the real assets and allow the user the possibility of trading them at any Blockchain-based exchange. You can see here on the Blockchain how the backed tokens are forthwith issued by our system, marked as “Erc20 (asFB2A)”:
This whole process – commencing with the order on our exchange platform, the execution on the NASDAQ, and the issuance of the backed tokens on the Blockchain – transpires in milliseconds, almost right on the spot. We think it’s all pretty cool and awesome – don’t you?
