OpenLedger, a product by Danish cryptocurrency exchange platform CCEDK, is a trustless decentralized exchange that provides fiat gateway with USD, EUR and CNY, a bridge to bitcoin and other cryptocurrencies DOGE, DASH, Peercoin, Litecoin, NuBits, NuShares, BlockShares, Emercoin and coming up Ethereum, Factom and more.

The platform is powered by the extremely fast BitShares network. It launched in October last year, simultaneously with BitShares 2.0. OpenLedger has been developed in collaboration with BitShares and a series of other organisations in the crypto space.

Underpinned by Graphene’s real-time blockchain technology, OpenLedger is a decentralized asset exchange that allows users to trade SmartCoins that are backed by assets such as gold, silver, fiat currencies, commodities, bonds, stocks, or any digital currency – meaning a user could trade, for example, Litecoin for gold, or Apple stock for Copper etc.

“Every asset held as a SmartCoin on OpenLedger is backed 100%”, a video explains.

All the reserves are kept as BTS held on the blockchain that cannot be stolen as there are no private keys that can be compromised. In addition, it enables users to remain anonymous, or to verify with fiat gateways like Paypal, Ripple or Nanocard to instantly withdraw fiat currencies.

Using OpenLedger platform enables users to create a new currency as User Issued Asset, create a Market Pegged Asset for their coin and deploy their own real-time blockchain together with OpenLedger.

User Issued Asset (UIA): In order to create cryptocurrency, users need to define the parameters such as supply, precision, description, symbol to get started. The coin will be created in a matter of seconds and users can issue some of their coins to whomever they want, sell them and see them instantly traded against any other existing coin on OpenLedger.

Market Pegged Asset (MPA): Users can also create MPA and let the market deal with demand and supply. However, this requires a “fair price” and another asset that can be used as collateral. As the issuer has no control over the supply, the blockchain protocol deals with increasing and decreasing supply. For a user to get some of the new coins, the issuer needs to put collateral into a smart contract.

Deploy a real-time blockchain together with OpenLedger: The platform also enables users to deploy their own graphene-based real-time blockchain instantaneously and integrate it with OpenLedger’s infrastructure on their own blockchain.

“Running their own possibly private blockchain has the advantage that users can tune every single parameter to their liking and have it fit their needs perfectly without discussion with other shareholders”, CCEDK explains.

OpenLedger platform offers features such as trust (no need for middlemen to transfer money), flexibility (supports top national currencies and digital assets), stability (stabilized second-generation digital assets via SmartCoins that provide much lower volatility than first-generation assets like Bitcoin) and Smart Contracts that enables users to program financial transactions to happen automatically when agreed upon conditions are met.

“OpenLedger is a trustless decentralized exchange with a wealth of delightful surprises. When you consider the offers available it seems no need to do your trading and exploration of cryptocurrency anywhere else as it is all there on OpenLedger”, said Ronny Boesing, CCEDK CEO.