In the U.S.(specifically NYC),there are numerous institutional clients operating in the crypto space. On the other hand, in India, it is so difficult for an institutional client to get an exposure to crypto. Moreover, not too many exchanges in India offer comprehensive APIs to trade automatically. Chandigarh based blockchain startup - Bittmax has come forward to offer an easy to use API that can be used to integrate third party apps with the crypto ecosystem. Throwing light on, Vishal Vinayak, Co-founder, Bittmax, speaks, “Cryptocurrency exchanges in India are nowhere near the global peers. May it be liquidity, KYC delays or the User interface; exchanges in India have only been able to deliver sub-par products to the user and we think we can make this experience exponentially better. Also, we plan to open-source some of the components so that others in the space can benefit.”

The founders - Nitin and Vishal have been involved in the crypto space in

NYC for quite some time. The duo
invested significant time on various cryptocurrency and blockchain related events and meetups and over the months sensed a huge spike in the number of attendees. These events were organized by some of the hotshots in the crypto space and eventually they got to interact and network with numerous like-minded people. Then in Q2 of 2017, crypto market just went berserk and suddenly there was a lot of retail as well as institutional interest. That was the time when they realized that it might not be a bad idea to move to India and solve some real problems. “What was happening in NYC in 2017 was bound to happen in India over the next few years. Therefore, in July 2017, I moved to Chandigarh and started Bittmax,” speaks Vishal.

Operating in a stealth mode since inception, Bittmax is constantly striving to build India's most transparent cryptocurrency exchange

Carving a Niche in the Block Chain Space
One of the biggest challenges that is hindering the adoption of block chain platform is scalability - believes team Bittmax. “When a system is decentralized, redundant tasks need to happen over the network to maintain system state. This brings

down the throughput of the system quite considerably. We are working on adopting the latest standards in our products so that a seamless experience can be delivered to the user,” explains Vishal.

Operating in a stealth mode since inception, the company is constantly striving to build India's most transparent cryptocurrency exchange. Vishal informs, “So far we have been lucky to be able to find some of the smartest low latency/c++ as well as web/UI engineers to build the first product. And this is just the start. We are on a mission to bring mass adoption to cryptocurrencies and this can only happen with intuitive products.”

Further more, the company is in the process of building an exchange that would scale for very large transaction volumes seamlessly (unlike some of the other exchanges that crash on too much user activity).

As a startup that loves to experiment with latest technologies and adopt them, Bittmax is blessed to have some of most brilliant mentors who guidesthem at each step of the way. “We are still years away from seeing real world adoption of various blockchain use cases. What it would take us to get to the tipping point? Probably extremely intuitive user experience; one at par with centralized solutions,” smiles Vishal.