There are a lot of interesting developments in the world of cryptocurrency. Crypto Exchange Ranks is a rather unusual venture, although it could prove rather valuable in the long run. Assessing the vulnerability and liquidity of exchanges is direly needed at this point in time.
CER in a Nutshell
On the surface, Crypto Exchange Ranks is primarily designed to evaluate the sustainability and security of existing and future cryptocurrency exchanges. Given how often such platforms are hacked, breached, or otherwise affected, there needs to be some sort of improvement. Whether or not CER can fill that void remains a bit unclear.
How Does It All Work?
Very few people are aware of how many cryptocurrency exchanges and trading solutions exist today. While most people know the bigger names such as Coinbase, Kraken, GDAX, Gemini, and so forth, there are many others. In fact, it is estimated that close to 200 such companies are in operation all over the world.
As one would expect, not all cryptocurrency exchanges are created equal. Some are far more prone to hacks and other security issues than others. Crypto Exchange Ranks aims to analyze all platforms based on their compliance, technical infrastructures, and cybersecurity precautions. Additionally, there will also be a focus on their liquidity in order to provide some sort of audit of the trading platforms in question.
Furthermore, the CER project is designed to provide 24/7 data analysis. CER’s clients will see the continuously updated ratings of cryptocurrency exchanges, which should help them make the right choices and ensure their funds are kept safe at all times. Doing one’s own research is still advised first and foremost, though.
What Comes Next?
Developing the infrastructure for Crypto Exchange Ranks will take some time. As of right now, the project is progressing nicely, although there is still a lot of work to be done. In early September of 2018, we will see what the infrastructure looks like. It will be a very interesting development to keep an eye on, as platforms like these will bring more legitimacy to the cryptocurrency industry.