Intro In our view, there are fundamentally two different types of exchanges: the ones that deal with fiat currency; and the ones that deal purely in crypto. It is the latter one that we will focus on. Even though they are small now, we strongly believe that pure crypto exchanges will be bigger, many times bigger, than fiat based exchanges in the near future. They will play an ever more important role in world finance and we call this new paradigm Binance; Binary Finance. With your help, Binance will build a world-class crypto exchange, powering the future of crypto finance. Problems Some of the current crypto exchanges suffer from a number of problems: ● Poor technical architecture Many exchanges are “put together quickly”, by good tech people, but who have little or no experience in finance or in operating an exchange. They often choose the simplest approach to get the system up and running. While this may work well in the beginning, as traffic grows, the system will not able to handle the increased load. Exchange systems need to be engineered from the ground up with security, efficiency, speed, and scalability in mind. This often slows down the initial development, but is critical for long-term success. Our team has decades of combined experience building and maintaining world class financial systems that shape the economy. We understand how these systems are built from the ground up. ● Insecure platform There are hundreds of exchanges that went down due to being hacked . 1 Binance is built to high standards, audited, and penetration tested. We have experience building financial systems to the highest security standards and strive to ensure security first. ● Poor market liquidity Professional traders and normal users are significantly affected by this. Having a shallow orderbook means high slippage when trading, which is very expensive for traders. Getting miners, institutional investors and large traders into a new exchange is a chicken and egg problem, and requires a team with deep industry resources. 1 https://bitcointalk.org/index.php?topic=576337