Ripa Exchange platform is a hybrid-decentralized cryptocurrency exchange. The hybridity of the platform and the uniqueness lies in two features – the first is the fully open source code of the platform, the second is the creation of an opportunity to open an exchange of cryptocurrencies at minimal cost. It is an exchange with the possibility for users to open their own exchanges. The platform is built on blockchain technology, which provides cryptocurrency traders with full security, as well as the safety of operations with cryptocurrency in daily work. The need to create a platform Ripaex, according to the developers, is the fact that despite the rapid development of cryptocurrency and blockchain technology, the cost of creating the exchange of cryptocurrencies remains enormous.
Ripa Exchange provides users with an open (in terms of source code), efficient, reliable exchange platform and provides the necessary liquidity, the newly established exchange from the first day, to users focused on finding customers, as well as on providing quality service, compliance with all laws in the industry of the state.
The cryptocurrency industry has a high entry level from both a technical and economic point of view for the average user or average entrepreneur. After all, only to start building the platform users will need to purchase or develop (which may take more than one year) a reliable encryption system, hire professional programmers, IT specialists, support specialists, it will also be necessary to comply with national and international standards in the field of exchange trading, and still need to have liquidity to start operations on the exchange.
The goal of the Ripa Exchange project is to lower this barrier and enable developers and entrepreneurs to focus on those things that contribute to earnings. This task is solved by providing open source code that will save not only money but also precious time. In addition, a high level of investment in venture capital will be required to start trading, but returns from trading are not guaranteed in the first 5 years.
The creators of the Ripa Exchange platform believe that when building a professional cryptocurrency exchange service, the source code of the platform for the exchange and liquidity should be provided to developers for free, i.e. users of the Ripa Exchange platform do not need to pay 150 thousand euros to any developer company just to build the platform, and then pay 100-150 thousand euros to buy out the rights to this platform and configure it for their needs, or a minor revision.
The developers of Ripa Exchange believe that the source code they provide should be free, and they should offer the best technologies in the market, so that developers can focus on creating a technology of doing business, providing a service that will be responsive to users, safe and effective. That's why Ripa focuses on building a network of exchanges, focusing on an efficient, secure, flexible, compatible and customizable exchange platform so that every cryptocurrency exchange can rely on a solid and well-established foundation (source code).
To achieve this goal, the developers of RipaEx have created a technology to provide liquidity services on the blockchain ecosystem ARK technology - to increase consumer confidence. The ARK ecosystem is still at an early stage of development: future implementations will be able to run smart contracts initially on the ARK 2.0 blockchain, which will allow this blockchain technology to compete with Ethereum from a technological point of view.
The development of the RipaEx project consists of four stages:
- Financing project: issue and holding XPX ICO RIPA. In this phase, an analysis of the development of the cryptocurrency exchanges market will be carried out while providing a reduction in the entry level for the construction of a cryptocurrency exchange. The analysis aims to study the state of technology to form the basis for the subsequent stages of the project and build the first working prototype of the centralized exchange based on Peatio. The phase ends in January 2019.
- First exchange opening and development of tools and resources. The second stage takes into account the results of the first stage and develops on its basis a set of tools and resources that provide clear and understandable guidance for market participants in any country. With the release of the first working instance of Ripa Exchange, users can establish the first contact with other economic players in the industry. The phase ends in June 2019.
- Dissemination of information and coordination of projects. During the whole period of the project carried out dissemination of information, where the results of the individual work packages are disseminated to relevant target groups, including project partners, investors of RipaEx governing the exchanges and their banking partners. This phase covers a wide range of information dissemination methods, from printed and electronic handbooks to workshops and training sessions, to existing networks, all with the ultimate goal of defining a standard for information exchange between public and private organizations. The overall work package deals with project management from start to finish, ensuring proper coordination, quality assurance and budget control.
- Development of hybrid-decentralized exchange. Using tools and resources developed in stages 1-3, efforts will focus on the practical application of the knowledge and tools collected. The three main coordination areas within the exchange network established to organize successful demonstrations at the local level: development of local Ripa exchanges, technical analysis for Ripa liquidity provider and first launch of a working hybrid decentralized exchange. The demonstration phase is the core of RipaEx's activities focused on delivering results of work. The phase ends in January 2021.
- Exchange of cryptocurrency for cryptocurrency
- Facebook, Google, Twitter
- FIDO: the entrance with the standards of the Fido Alliance
- Supported protocols: POW, DPOS, Masternode, tether, ERC20
- CURRENCY: BTC, ETH, DOGE, BCH, TUSD, ARK, LISK, SHIFT, RISE, KAPU, OXY, RIPA.
- MAIN MARKETS: BTC, ETH, ARK
- Order type: market, limit
Future instances of Ripa Exchange implementations will have the following capabilities:
- E-wallets: OKPay, NETELLER, MoneyPolo, others
- Advanced trading options: margin trading, stop loss and take profit
- Exchange of traditional currency for cryptocurrency
- Other instruments: VISA and MasterCard, trade instruments, p2p lending.
The RipaEx project will have its own blockchain and system called Ripa, which will work under the DPOS Protocol and will run the XPX token on IT, which will serve the following five purposes:
- Transfer of new cryptocurrencies on Ripa exchanges
- Advertising of new projects in Ripa system
- Purchase apps in the store RipaEx
- Payment for goods and services from authorized Resellers using RIPAEX POS (point of sale)
- Division of liquidity between the exchanges Ripa on the same network.
XPX is a cryptocurrency derived from ARK, Lisk, Crypti, and BitShares with unique differences and improvements to achieve the goal of collaborative liquidity between exchanges within the same Ripa network. This code, however, inherits simplified interactions between ARK and other blockchain systems, using DPoS as their consensus. This homogeneous code base allows you to potentially provide service bridges in the form of ARK-Lisk blockchain applications along with any additional systems provided by their blockchain administrators. Blockchain developer for Ripa acts ARK. ARK has created a complete ecosystem for Ripa that allows each exchange on the network to share the same liquidity. The developers Ripa does not intend to refuse the services of the ARK in the integration of software code ark and Ripa. The Ripa Blockchain inherits the delegated consensus share confirmation system (DPoS) that was first introduced by BitShares. This consensus algorithm was developed to address the problems associated with proof of work (PoW), namely the centralization of computing power and the exponentially growing waste of real world energy. Although it is not fully decentralized as it relies on a consensus of a fixed number of elected delegates, it guarantees better decentralization than Bitcoin. The implementation of the consensus algorithm will improve over time, becoming an optimal consensus system.
The sale of XPX tokens will be conducted in two stages:
- Pre-SALE: from April to September 2018
- ICO: from October to December 2018
Exchange Rate and Cryptocurrencies accepted for payment: The token exchange rate for tokens is 1 XPX /€0.10. The following cryptocurrencies are accepted: BTC, ETH, ARK, LISK. Other currencies are accepted upon agreement with developers of RipaEX. The funds received from the ICO will be distributed as follows:
- 60% for project development
- 20% for marketing
- 20% legal support
The funds allocated for the development of the project will be distributed as follows:
- 50% functional analysis, technical analysis, development, testing
- 20% Technical support
- 15% Infrastructure
- 10% Safety
- 5% Analytics.