Amir Ness from CryptoPotato got the chance to interview Hua Chen, of CoinXP, while his team was visiting Jerusalem to learn how to build a strong community. Hua Chen is the CTO and Co-Founder of CoinXP and has completed his bachelors and masters from Tsinghua University China. He has over 20 years of experience in IBM research labs.
The idea behind CoinXP, as described by Chen is that the platform wants to resolve the issue of low liquidity in the crypto market. Almost all exchanges suffer from liquidity problems, which in turn, hinder their service provision. The users of the crypto exchanges eventually become the victims of the exchanges’ shortcomings and have to suffer degraded services and other limitations.
Chen discusses the team behind the project, which includes 5 people with PhDs, and considerable software development experience. The whole team is built from experienced, technical people, 12 are based in China, while the project also has an office in the USA.
While answering Ness’s question about the benefits that CoinXP provides to the centralized and decentralized ecosystem, Chen tells the story of how he met Liang, the CEO of the project. What’s interesting is that Chen describes the idea behind the project by linking it with his own experience of trading. He explains that when he and Liang tried to get into the crypto trading market, they identified a few problems that needed to be resolved first.
The desire to resolve this problem for all the traders out there resulted in the development of CoinXP. Chen describes various incidents (Mt. Gox, CoinCheck) that occurred and which signified the need for a platform such as CoinXP. Chen wants to develop a secure, liquid exchange market, which will make it easier for traders to initiate trades. CoinXP uses blockchain to resolve this issue.
The interview then continues to discuss how CoinXP will resolve the issue of liquidity in crypto exchanges. Chen makes the point that right now crypto exchanges are at the top of the food chain and more than seventeen thousand exchanges exist.
He clarifies that these exchanges do not interact with each other and CoinXP will create an open, transparent ecosystem for crypto exchanges that will promote security and transparency. CoinXP will also answer the issue of performance in blockchains by using the concept of main and sub chains, which will distribute the workload and theoretically, improve the performance.
You can listen to the interview below, for yourself. Let us know what you think of CoinXP.