Abacas is a universal exchange that allows you to trade, exchange or transfer Any Asset Anywhere Anytime.
The AbacasXchange is a new system for the registry and peer-to-peer exchange of tokens, mosaics and less liquid cryptocurrencies through highly liquid cryptocurrencies and asset tokens known as Gateway Assets (BTC, ETH, XEM, etc.)
Using Gateway Assets, the AbacasXchange forms liquidity chains between three or more assets to connect and form a price between two assets that may not exist otherwise.
The Liquidity Chains that are formed provide greater opportunities for buyers and sellers to connect on disparate assets, but this can only exist on an exchange that insures the integrity of the process and assets of the exchange.
The AbacasXchange enforces the integrity of assets traded through a set of rules and procedures known as the Abacas Protocol. The Abacas Protocol provides for user identity; asset proof of existence, proof of provenance and proof of authenticity; custody and trust of the underlying asset of a digital token; low latency price discovery; low friction order entry; smart order linkage for cross-asset liquidity; integrated block chain services for open and distributed workflow processing and value transfer over multiple distributed ledgers.
The AbacasXchange provides APIs (Application Programme Interfaces) whereby micro-transactions of gateway assets may be exchanged for other less liquid crypto-currencies of a blockchain service provider. This automatic exchange and payment processing will enable cross-chain applications without the need to hold reserve crypto-currencies for every blockchain that may be utilized.
The AbacasXchange provides for the trading of all assets including asset tokens created using standards such as the ERC20 & NEM Mosaics. Beyond trading digital tokens, the AbacasXchange provides for assets that are “Fulfilled by Abacas”. A Fulfilled by Abacas asset is one that is held in safe-keeping [custody] and one in which the asset’s existence, authenticity and provenance are assured. The AbacasXchange enforces the integrity of Fulfilled by Abacas assets through a set of rules and procedures known as the Abacas Protocol.