Social trading platform HedgeTrade has announced a new partnership with Bluzelle to provide its users with blockchain-interoperable trading tools
Cryptocurrency social trading platform, HedgeTrade, has seen a growing user base as the result of its unique approach to cryptocurrency trading — it allows professional and novice traders to work together and mutually benefit from sharing information.
With this partnership, the platform will be able to use Bluezelle´s network to store, manage and analyze data in a decentralized manner; thereby increasing the platform´s uptime and security.
Crypto trading platforms are innovating
HedgeTrade differs from other trading platforms by allowing expert traders to create “blueprints” — a smart contract that includes predictions users can purchase or unlock to access.
The purchase of these blueprints will be refunded if the prediction is incorrect, diminishing the risk for novice investors and rewarding the creator of the blueprint if the prediction was successful.
Expertise is only as useful as the tools that are available to deploy it into the markets, so HedgeTrade is looking forward to bringing more transparency to data by creating blockchain-based tools that enable the analysis of information produced by users on the platform.
The use of a NoSQL database brings insights and analytics capabilities to the platform, which should hep to deliver a transparent experience to its users.
The announcement from HedgeTrade stated: “With a decentralized method of handling its data, the HedgeTrade team can better perform risk analysis, provide differentiating customer views, and manage market data.”
A synergy for traders
Both companies have plenty of experience and features to offer users, and as a result of the new partnership, traders have a unique new way to interact with the markets.
HedgeTrade CEO and Co-Founder David Waslen referred to the partnership by commenting:
“With Bluzelle’s decentralized data storage, we’ll be able to provide our users with data security only achieved through decentralization, as well as a blockchain compatible database that is in step with our fast-evolving crypto platform.”
Bluzelle is a decentralized data network that allows developers to manage data in a secure, immutable and scalable manner when using it in their dApps and tokenized applications.
The network offers crypto platforms a decentralized database solution suited to connect multiple blockchains with all the benefits that decentralization brings to the table, especially the avoidance of single points of failure.