The prominent crypto exchange Phemex has recently submitted a patent application under the Intellectual Property Office of Singapore (IPOS). The respective application deals with a couple of issues leading with the blockchain exchange firm. These issues deal with unplugging at the time of high traffic and system upgrade-related interruptions.
Exclusive Patent Application Filed by Phemex Intends to Enhance Trading Experience
Before that, the crypto exchange applied the respective exclusive technology to the Margin Trading product thereof to enhance the user experience to a great extent. The latest technology will be shortly available for combined accounts as well as the exclusive Web3 products. The new patented technology of Phemex particularly deals with a couple of issues that have been bothering the industry for a considerable time.
In the case of interruptions dealing with system upgrades, exchange platforms often witness closures when system upgrades are carried out. This is a crucial issue that paves the way for considerable downtime. As a result of this, traders witness lost opportunities and frustration. The innovative technology of Phemex guarantees the exchange keeps on running conveniently during the system upgrades. This would likely offer an unparalleled trading experience.
Another frequent issue experienced by the crypto exchange platforms is related to the unplugging of the network cable during high-traffic sessions. Due to this, the exchange may become unavailable on a provisional basis. This hampers the capability of the traders to carry out trades when they require it most. The technology of Phemex deals with this problem by guaranteeing that the system can tackle elevated traffic levels without interruption.
The Margin Trading product of Phemex was introduced by the platform this year. In addition to this, the company has effectively applied the respective patented technology. The respective technology has been playing a significant role in offering unparalleled trading experience to traders. The firm intends to implement the respective technology to combine accounts and unique Web3 products. This will potentially bring more enhancement to the user experience.
The Platform Plans to Continuously Upgrade Its Products, Says Executive
Phemex’s CMO Stell Chan also commented on this move. The executive stated that the platform has always paid considerable attention to enhancing the trading experience for the clients. As per the executive, this effective patent application indicates the company’s resilient determination to keep on upgrading the products in the future.
