- Coinone takes over server engine specialized firm, iFunFactory via massive investment
- Coinone Core expands trading engine and supports listing of new coins by providing more than three million matching transactions and dashboard function without hindering the service provision
SEOUL, South Korea, Sept. 6, 2018 /PRNewswire/ -- South Korea's leading cryptocurrency exchange Coinone announced that it enters into trading engine solution business with Coinone Core, co-developed by iFunFactory, the server engine specialized firm. Coinone recently conducts massive investment and takes over iFunFactory's management rights.
Coinone has secured stable server technology by strategically investing in iFunFactory, and iFunFactory too, based on cooperation with Coinone is now able to seek expansion of its business model into a new field. However, the game engine server businesses already in operation by iFunFactory will be exempt from the new business model opportunity mentioned, as they will be managed independently. Aside from Coinone Core, Coinone will also actively cooperate with iFunFactory to promote stable growth in game businesses already managed by iFunFactory before the takeover.
The "Coinone Core" is an engine solution that integrates trade exchange management and operation experience of Coinone and massive distribution technology of iFunFactory. "Coinone Core" has a distribution system capable of horizontal expansion into hundreds of servers, supports trading engine expansion without halting the service and helps listing of new coins.
In particular, a transaction server is required to process many requests in a short period of time, but Coinone Core can process more than three million transactions per second.
Not only that, the dashboard function helps users to identify the status of the transaction server at once. As the stable operation of server is one of the most important factors in managing cryptocurrency exchange, with Coinone Core, Coinone has secured a transaction engine at a level above securities firms.
"Coinone has confirmed the long-term cooperative business potential through the joint project with iFunFactory. Coinone Core realized by cooperation between the two parties will become a ground for Coinone and iFunFactory to take one step further," said Kevin Cha, CEO of Coinone.
"We have accumulated know-how and technology for many years, and they will demonstrate their values in the trading engine field too. We expect explosive synergy to come forth as sparked by the expertise of the two companies," said Dae-kyung Moon, CEO of iFunFactory.
Meanwhile, Coinone plans to hold separate online/offline seminars to provide detailed information of Coinone Core to domestic and foreign would-be partner firms. Detailed info regarding the seminars can be checked later on Coinone webpage.
Coinone, "Bringing Blockchain into the World"
Coinone is a leading company that is making future finance based on the expertise of the blockchain.
Currently we are operating Coinone, one of Korea's top 3 cryptocurrency exchanges, and preparing blockchain international remittance service Cross. In addition, we are operating world's first blockchain 4D zone Coinone Blocks. We strive to provide comprehensive financial services including on-line and off-line payment solutions using blockchains and cryptocurrency.
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