KuCoin is a cryptocurrency exchange founded in 2017 by Michael Gan. It provides a platform for users to trade various cryptocurrencies. The name "KuCoin" is derived from the Chinese word "Ku," which means "cool." The exchange allows users to buy, sell, and store cryptocurrencies securely. It has gained popularity for its wide range of token offerings and advanced trading features.
KuCoin is a cryptocurrency exchange that offers several benefits compared to its direct competitors. One of the key advantages of using KuCoin is its wide range of supported cryptocurrencies. With over 400 cryptocurrencies listed on the platform, users have access to a diverse selection of digital assets for trading and investing. This is advantageous for technology savvy individuals who are looking to explore the broader cryptocurrency market beyond the mainstream options.
Another benefit of using KuCoin is its user-friendly interface. The platform is designed to be intuitive and easy to navigate, making it suitable for both beginners and experienced traders. KuCoin also provides advanced trading features such as limit orders and stop-loss orders, allowing users to effectively manage their investment strategies.
In terms of security, KuCoin employs stringent measures to protect user funds. The platform utilizes industry-standard security protocols, including two-factor authentication and cold storage for storing cryptocurrencies offline. This helps to minimize the risk of hacking and unauthorized access to user accounts.
Compared to its direct competitors, KuCoin has gained a reputation for its responsive customer support. The exchange offers 24/7 customer assistance through various channels, including live chat and email. This ensures that users can seek immediate help and assistance whenever they encounter any issues or have inquiries.
Overall, KuCoin provides a comprehensive cryptocurrency trading experience with a wide range of supported assets, user-friendly interface, robust security measures, and responsive customer support. These benefits make it a compelling choice for technology savvy individuals looking to engage in cryptocurrency trading and investment.
KuCoin is a cryptocurrency exchange that operates on the blockchain technology. The exchange utilizes a decentralized model, which means it doesn't rely on a central authority to manage user accounts or hold funds. Blockchain technology ensures transparency, security, and immutability on the platform.
KuCoin primarily operates on the Ethereum blockchain, which enables the trading of various cryptocurrencies. Ethereum smart contracts are utilized for executing transactions and storing user account information securely. The exchange also offers its native token called KuCoin Shares (KCS), which provides benefits to token holders, such as reduced trading fees and access to exclusive features.
The functioning of KuCoin involves several key aspects. First, users need to create an account and complete the necessary verification procedures. Once registered, they can deposit funds into their KuCoin wallet. The exchange supports various cryptocurrencies, allowing users to trade their digital assets with other users on the platform.
KuCoin employs advanced order matching algorithms to facilitate efficient and secure trading. Users can place various types of orders, such as market orders and limit orders, to buy or sell cryptocurrencies at desired prices. The exchange also provides advanced trading features like margin trading and futures contracts.
To ensure the security of users' funds, KuCoin incorporates robust security measures such as two-factor authentication, cold storage for holding the majority of funds offline, and regular security audits.
Overall, KuCoin operates as a blockchain-based cryptocurrency exchange, utilizing the Ethereum blockchain for transparent and secure trading. The exchange offers a range of features and supports various cryptocurrencies, providing users with the opportunity to trade and manage their digital assets effectively.
DIA utilizes different methods to fetch trade data from DeFi and NFT exchanges, depending on the type of exchange in question. For centralized exchanges like Coinbase, Kraken, and Binance, DIA employs scrapers that directly collect trades from the exchange databases using Rest APIs or WebSocket APIs. These scrapers retrieve trade data with varying frequencies, ranging from 1 to 7 seconds, depending on the exchange.
In contrast, for decentralized exchanges, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This approach enables DIA to retrieve trading data directly from the blockchain itself, ensuring enhanced data accuracy. Examples of decentralized exchange sources where DIA collects data include Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data with a retrieval period ranging from 20 seconds to 1 minute. This allows DIA to cover all NFT transactions happening in real-time on the integrated marketplace's smart contracts. By doing so, DIA ensures data precision from the broader NFT market without relying on unreliable bids and offer data. Notable NFT integrated exchange sources where DIA fetches trade data include Blur, X2Y2, OpenSea, and TofuNFT.
DIA's comprehensive approach to data management, encompassing both centralized and decentralized exchanges, as well as NFT marketplaces, enables the company to provide highly accurate and customizable price feeds to its users. This ensures that users have access to reliable and up-to-date trade data for their various needs.
When building price feed oracles with KuCoin trade data, DIA follows a specific process. The process differs depending on whether we are referring to a decentralized finance (DeFi) exchange or a non-fungible token (NFT) collection.
For DeFi exchanges, DIA's process involves two steps: data cleaning and outlier detection, and applying price determination methodologies. In the first step, data cleaning is done to remove trades with prices that deviate significantly from the market price. This is important to prevent irregularities caused by market manipulation or errors. DIA applies an Interquartile Range (IR) filter to exclude data points that lie outside an acceptable range relative to the interquartile range. Trades falling into the first and last quartiles are filtered out, while trades falling into the middle quartiles are used for further processing.
In the second step, price determination methodologies are applied to calculate the final price. DIA uses trade-based filters to retrieve a single USD price value for each asset. For example, they may use the Volume Weighted Average Price (VWAP) methodology, which takes into account different trade volumes, or the Moving Average with Interquartile Range Filter (MAIR) methodology, which creates blocks of trades ordered by timestamp and calculates the weighted average price for each second.
For NFT collections, the process is different. DIA determines the floor price of an NFT collection by processing the on-chain trade data in two steps. First, the data is passed through cleansing filters to exclude market outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point. DIA offers methodologies like the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain, and the Moving Average of Floor Price, which returns the moving average of the collection's floor price.
It's worth noting that market manipulation techniques like wash trading and floor sweeping can affect the floor price. DIA implements filtering mechanisms to ensure more realistic and reliable NFT floor prices, such as the interquartile range outlier detection filter. Additionally, DIA is open to discussing custom filters and methodologies for specific use cases.
Overall, DIA's process involves data cleaning, outlier detection, and the application of price determination methodologies to build accurate price oracles using KuCoin trade data, tailored to the specific needs of DeFi exchanges or NFT collections.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.