Place/Date: - March 28th, 2021 at 5:52 pm UTC · 3 min read
AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the support of Solana Public Library (SPL) for deposits and withdrawals of SRM, USDT, USDC, FIDA, MAPS and OXY on Mar 26 at 9:30 a.m. EDT. AscendEX users will be able to take advantage of Solana’s low transaction costs and high transaction speeds when making transfers with the SPL.
Solana is a single-chain, Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security. Solana can currently handle 50,000 TPS with single transaction costs as low as $0.00001.
The Solana Program Library (SPL) is a collection of on-chain programs targeting the Sealevel parallel runtime. These programs are tested against Solana’s implementation of Sealevel, solana-runtime, and are deployed to its mainnet. As others implement Sealevel, Solana will accept patches to ensure the programs are portable across all implementations.
Increasing numbers of projects are migrating to Solana. For now, there are more than 120 projects using Solana. These projects range from unique wallet solutions, decentralized exchanges, lending protocols, staking platforms, digital games, storage solutions, and more.
Core to Solana’s scaling solution is a decentralized Proof-of-History (PoH), built to solve time in distributed networks where there is no single, trusted source of time. By using verifiable delay functions, PoH allows individual nodes to generate timestamps with SHA256 computations locally. This eliminates the need for broadcasting timestamps across the network, improving overall network efficiency.
By combining these core innovations, Solana enables developers to deploy apps that are easily composable and unstoppable. Leading crypto projects are now leveraging Solana’s speed and ultra-low fees in order to scale to billions of users and devices globally.
Originally founded in 2018 as BitMax.io, AscendEX is a leading digital asset financial platform catering to both professional and retail traders. Our venue offers spot, futures, margin trading and staking products and incorporates key elements from the DeFi space to foster a unique market structure for users. AscendEx is led by a team of Wall Street veterans who have applied traditional markets’ rigor to create a robust, secure, and reliable experience for all participants, and a consistent source of liquidity for primary offerings.
Solana is a single-chain, Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security. Since its inception, the Solana team – comprised of pioneering technologists from Qualcomm, Intel, Netscape, and Google – has focused on building the tech required for Solana to function with groundbreaking performance standards.