Russian software developers have published code of the Bitcoin Exchange for $100,000
A group of Russian developers made a big present to the world Bitcoin community. Having been disappointed in the prospects of development of cryptocurrency business in Russia, the developers of the now closed BTC-Up Exchange have posted in the open access source codes of a completely new platform to develop which they spent more than six months and approximately $100,000 of their own money.
The team has posted a message on Bitcoin Talk and Reddit, which said that it’s hoping to help in the development of the global Bitcoin market, allowing anyone to use their development. According to the developers, they’ve managed to create the fastest platform supporting a broad functional and most of known trading protocols.
At the moment the project under the brand name MarginCall is looking for investors and planning to start activity in the jurisdiction loyal to the cryptocurrency business.
We spoke with CEO of the exchange Ivan Starinin and asked him to tell us about the platform, his plans and decision to post the code in the open access.
CoinSpot: Please, tell us briefly what happened, why did you decide to post source codes of the exchange? What was the original purpose?
Ivan Starinin: At first we planned to develop the fastest and most technically advanced exchange, which would kick ass btc-e and bitstamp’u. But later, after the speech of our Central Bank some regulating authorities became quite active and appeared draft laws on money surrogates, so we decided to open the exchange, both physically and legally, in a different place.
CoinSpot: But did you have investors at the beginning or you did the work at your own expense?
- S .: There were no investors in this very this project, we invested our own money. Before this, of course, there were other projects.
CoinSpot: How much time did the work on the code take?
- S .: We wrote the code for about half a year.
CoinSpot: What is the exchange written in? Tell us about the main advantages.
Exchange is written in C #, Erlang and php. The main advantage is our matching engine. It is the fastest on the market and supports trade with leverage, different types of orders and much more. Of course, all typical functions for other exchanges are also implemented.
CoinSpot: You’re writing on Reddit you have more opportunities than Bistamp and Coinbase, is that so?
- S .: Technically – yes. The exchange is the fastest on the market, the FIX/FAST protocols have been implemented, so it can easily work with such institutional players as City Bank, Deutsche Bank, and so on.
CoinSpot: Impressive. What about security? Did you audit it? Maybe have hired hackers to test its stability?
- S .: About security, the exchange was tested by permanent specialists, so it is possible that the current version may be vulnerable. But, of course, anyone who develops his exchange on the basis of project with open code understands that.
CoinSpot: It figures. How long did you dare to post everything on public? Didn’t you want just to sell the source codes or monetize them somehow else?
- S .: Of course we did, but overcame that. We believe that a good name in the community costs more, and the code itself does not mean anything without a team that created it.
CoinSpot: Judging by the response, you already have many grateful users. What are the current plans for the team?
- S .: Yes, we do. We have received many favorable comments from those who appreciate our work. In the nearest future, we’ll choose the best offer from those who writes to us and will continue to work.
CoinSpot: So now you’re looking for investors and open up somewhere abroad, right? If not a secret, what regions do you focus on?
- S .: That’s right. We focus on Western Europe, but, of course, the investors can be from any place in the world.
CoinSpot: In the current form is the exchange designed only for Bitcoin, or other currencies can be added, too? Is there any demo mode?
- S .: Other currencies can be added, too. As demo mode, you can use a test version on spacebtc.tk login: firstname.lastname@example.org pass: 123. Just keep in mind that the website itself is virtually not optimized, unlike the code. That is to say, in demo mode everything can’t work as fast as it really is.
CoinSpot: In the end, tell us about your vision of the prospects cryptocurrency in the world and in Russia, how you see the development of technologies and business.
- S .: I generally believe that the most promising business niches are not yet occupied – financial technologies 2.0 and transhumanism. But in both cases, the future of these technologies in Russia remains quite vague.
CoinSpot: Thanks for your time, good luck in development! Keep us up to date.
- S .: Thank you and take care!
The source codes of the exchange are available on
You can contact the authors in Telegram or by e-mail:
email@example.com (matching engine)