Blockchain In The Real World
05 Nov 2020, by Bittrex Team
Bittrex offers traders a chance to be part of blockchain innovation
Bittrex was founded with an eye toward the potential of blockchain projects to foster widespread innovation. Our core mission is to empower innovations in the space – large and small – that are bringing about the next generation of blockchain projects to market.
Blockchain’s potential to create impact is just beginning. It’s being used to bring credibility and accountability to the supply chain for WalMart, to verify provenance and age of wine, and to increase the security, privacy, and interoperability of health data.
The crypto economy surrounding these innovations is growing rapidly too. CryptoKicks from Nike combines the blockchain capabilities of verifying authenticity with non-fungible tokens (NFT). This brings blockchain innovation full circle to the trading ecosystem, with a tradable digital asset.
To stay true to our mission of driving and supporting blockchain innovation, we continually seek out new projects that flex on the unexpected applications of the technology—and excite traders, too.
Types of Projects on Our Platform
First, let’s be clear that the projects we’re bringing to our platform are tradable digital assets. They are not exclusively currencies like Bitcoin, where a token represents the value of a coin, but also utility tokens.
It is a common theme among new projects to need a presence in an established marketplace before they can support their efforts in other areas. So when projects dovetail with Bittrex’s values and our traders’ interests, our platform can be their launchpad.
We look for unique use cases of blockchain technology with strong leadership teams who are engaged and involved in the wider community. Bringing these projects to Bittrex’s platform benefits both the projects and traders interested in backing new applications of the technology.
Our Vetting Process
It’s crucial to vet projects before they arrive on our platform.
Our vetting process for new projects continuously grows stronger as the industry matures. Since the landscape is rapidly evolving, our priority is to remain cognizant of the most up to date security and vetting processes. For example, in 2019 we became a member of the Crypto Ratings Council in order to ensure that we are leveraging the most comprehensive vetting standards across the industry. The council conducts due diligence against a standardized process, then makes its project ratings accessible to anyone in the industry.
For each new project we evaluate, we factor in business decisions such as consumer demand and compliance concerns, but we also integrate mission driven concerns such as the project team’s potential for furthering blockchain innovation. And traders can take direct part in this effort by interacting with those projects on our platform.
The Bittrex trading platform currently lists a variety of blockchain projects all of which have a unique take on furthering innovation in the space. As the industry landscape grows we’re continuing to evaluate and add projects that grow the blockchain ecosystem, all while maintaining the same rigorous standards we’ve used to become a world-class trading platform.
Join the next generation of blockchain innovation alongside Bittrex and create your account to start trading.