LZF: Difference between revisions
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LZF is the only correctly incentivized exchange of any kind. LZF uses a uniquely designed algorithm to encourage "healthy" behavior among traders in a market by awarding limit orders with royalties relative to their participation in helping produce a deep, dense, and stable market. | |||
LZF is the first and currently on U.S.-based Bitcoin exchange to legally operate fiat markets in 49 U.S. States (everywhere but NY). | |||
Traders are automatically compensated for placing orders for as many units of currency as they can, as close to the bid-ask-spread as they dare, for having those orders sit there for a long time accumulating royalties, and then eventually having their orders trade. | Traders are automatically compensated for placing orders for as many units of currency as they can, as close to the bid-ask-spread as they dare, for having those orders sit there for a long time accumulating royalties, and then eventually having their orders trade. | ||
As a result of the | As a result of the LZF incentive algorithm, all of the bids and asks you will see on the LZF markets are very likely to remain there. It's not an illusion of stability, as traders have come to experience many times in traditional markets. It's actual stability. | ||
==Incentivized trading explanatory video== | ==Incentivized trading explanatory video== | ||
[https://youtu.be/dLqhMIksOjU | [https://youtu.be/dLqhMIksOjU LZF incentivized trading explanatory video] | ||
==Features== | ==Features== | ||
| Line 15: | Line 17: | ||
* Traders are incentivized to produce deep, dense, and stable markets | * Traders are incentivized to produce deep, dense, and stable markets | ||
* Trade 24/7 | * Trade 24/7 | ||
* Trading engine can process about 500,000 new orders per second (an incredible engineering feat considering the | * Trading engine can process about 500,000 new orders per second (an incredible engineering feat considering the LZF incentivized engine must process royalties for every existing order every time a new order is placed) | ||
* Quite-likely the most advanced wallet security in the entire Bitcoin and crypto-currency industry | * Quite-likely the most advanced wallet security in the entire Bitcoin and crypto-currency industry | ||
* Only 0.25% trading fee | * Only 0.25% trading fee | ||
| Line 22: | Line 24: | ||
===Markets/Currency pairs=== | ===Markets/Currency pairs=== | ||
[https:// | [https://lzf.com LZF] currently has the following correctly incentivized markets: | ||
* Bitcoin - USD | |||
* Bitcoin - Nxt | * Bitcoin - Nxt | ||
* Bitcoin - Darkcoin | * Bitcoin - Darkcoin | ||
| Line 39: | Line 42: | ||
===Wallet=== | ===Wallet=== | ||
LZF has a powerful online wallet built on top of what likely the most advanced security infrastructure design of any crypto currency wallet or exchange online to date. | |||
===Security=== | ===Security=== | ||
LZF has taken extreme, obsessive-compulsive measures to secure the crypto-currency funds which its servers control. The private keys which control the majority of all funds deposited to LZF are encrypted and stored offline in bank vaults at various undisclosed locations. For online funds, LZF sought the expertise of cryptographers and decorated cybersecurity experts to design and engineer what is likely the first online wallet which has all of the following properties: | |||
* | * LZF servers store no private keys unencrypted | ||
* | * LZF servers store no decryption keys unencrypted | ||
* | * LZF servers store no decryption key decryption keys | ||
* A private key only exists in memory at the time a transaction is signed, then is promptly overwritten | * A private key only exists in memory at the time a transaction is signed, then is promptly overwritten | ||
* The unique data necessary to cryptographically arrive at a private key only exists in memory at the time a transaction is signed, then is promptly overwritten | * The unique data necessary to cryptographically arrive at a private key only exists in memory at the time a transaction is signed, then is promptly overwritten | ||
| Line 53: | Line 56: | ||
* No more than one unique vector of data necessary to cryptographically arrive at a private key exists in memory at a time, per-internal node | * No more than one unique vector of data necessary to cryptographically arrive at a private key exists in memory at a time, per-internal node | ||
* The time a private key exists in memory can only be measured in microseconds | * The time a private key exists in memory can only be measured in microseconds | ||
* The operating system itself protects access controls, in such a way that there is only exactly one possible way funds can be sent within the checks and balances of | * The operating system itself protects access controls, in such a way that there is only exactly one possible way funds can be sent within the checks and balances of LZF's overall system | ||
* Not even | * Not even LZF personnel at the highest level are able to manually access unencrypted private keys in any way, even if they have root access to LZF servers | ||
* Even if all of the | * Even if all of the LZF servers were physically stolen at any time, it would be computationally impractical for a bad actor to recreate even a single private key with the data stored on them | ||
==History== | ==History== | ||
LZF development began in September 2013. LZF was officially founded in December of 2013 and publicly announced and launched its initial alpha test in February 2015. | |||
==See Also== | ==See Also== | ||
| Line 68: | Line 71: | ||
==External Links== | ==External Links== | ||
* [https:// | * [https://lzf.com LZF] exchange online web application | ||
==References== | ==References== | ||
Revision as of 19:38, 13 September 2015
LZF is the only correctly incentivized exchange of any kind. LZF uses a uniquely designed algorithm to encourage "healthy" behavior among traders in a market by awarding limit orders with royalties relative to their participation in helping produce a deep, dense, and stable market.
LZF is the first and currently on U.S.-based Bitcoin exchange to legally operate fiat markets in 49 U.S. States (everywhere but NY).
Traders are automatically compensated for placing orders for as many units of currency as they can, as close to the bid-ask-spread as they dare, for having those orders sit there for a long time accumulating royalties, and then eventually having their orders trade.
As a result of the LZF incentive algorithm, all of the bids and asks you will see on the LZF markets are very likely to remain there. It's not an illusion of stability, as traders have come to experience many times in traditional markets. It's actual stability.
Incentivized trading explanatory video
LZF incentivized trading explanatory video
Features
- Only markets in the world with mathematically-correct incentivized markets
- Limit orders accumulate royalties for simply participating in the market
- Traders are incentivized to produce deep, dense, and stable markets
- Trade 24/7
- Trading engine can process about 500,000 new orders per second (an incredible engineering feat considering the LZF incentivized engine must process royalties for every existing order every time a new order is placed)
- Quite-likely the most advanced wallet security in the entire Bitcoin and crypto-currency industry
- Only 0.25% trading fee
- Send/request funds in all supported currencies
- US-based and federally regulated
Markets/Currency pairs
LZF currently has the following correctly incentivized markets:
- Bitcoin - USD
- Bitcoin - Nxt
- Bitcoin - Darkcoin
- Bitcoin - Litecoin
- Bitcoin - Paycoin
- Bitcoin - Peercoin
- Nxt - Darkcoin
- Nxt - Litecoin
Coming soon:
- USD - Bitcoin
- USD - Euro
Wallet
LZF has a powerful online wallet built on top of what likely the most advanced security infrastructure design of any crypto currency wallet or exchange online to date.
Security
LZF has taken extreme, obsessive-compulsive measures to secure the crypto-currency funds which its servers control. The private keys which control the majority of all funds deposited to LZF are encrypted and stored offline in bank vaults at various undisclosed locations. For online funds, LZF sought the expertise of cryptographers and decorated cybersecurity experts to design and engineer what is likely the first online wallet which has all of the following properties:
- LZF servers store no private keys unencrypted
- LZF servers store no decryption keys unencrypted
- LZF servers store no decryption key decryption keys
- A private key only exists in memory at the time a transaction is signed, then is promptly overwritten
- The unique data necessary to cryptographically arrive at a private key only exists in memory at the time a transaction is signed, then is promptly overwritten
- No more than one private key exists in memory at a time, per-internal node
- No more than one unique vector of data necessary to cryptographically arrive at a private key exists in memory at a time, per-internal node
- The time a private key exists in memory can only be measured in microseconds
- The operating system itself protects access controls, in such a way that there is only exactly one possible way funds can be sent within the checks and balances of LZF's overall system
- Not even LZF personnel at the highest level are able to manually access unencrypted private keys in any way, even if they have root access to LZF servers
- Even if all of the LZF servers were physically stolen at any time, it would be computationally impractical for a bad actor to recreate even a single private key with the data stored on them
History
LZF development began in September 2013. LZF was officially founded in December of 2013 and publicly announced and launched its initial alpha test in February 2015.
See Also
External Links
- LZF exchange online web application