Cryptocurrency startup Virtual Crypto to enable immediate trading of Bitcoin through ATMs and mobile devices
Israel-based Virtual Crypto announced today announced the completion of a full node setup on Amazon Web Services’ (AWS) EC2 servers to facilitate immediate bitcoin trades. Virtual Crypto Technologies Inc. is the developer of software and hardware for the purchase and sale of crypto-currencies through ATMs, tablets, PCs and or mobile devices. With full node participation in the bitcoin network, Virtual Crypto will be able to maintain a complete history of every bitcoin transaction that has ever taken place, all new transactions, and all block headers.
As a result, the Company is capable of verifying all transactions directly, rather than relying on miners. Employing state-of-the-art blockchain technology, all data concerning bitcoin transactions are delivered in real-time to Virtual Crypto’s Research and Development team, so a proprietary algorithm can be applied and all transactions efficiently reviewed.
The Company will be leveraging its new ability to conduct big data analysis in multiple ways. First, the capability of evaluating the possibility of a transaction being confirmed with great accuracy underlies Virtual Crypto’s ability to immediately confirm the likelihood that any given transaction will take place, which in turn gives the Company’s customers the confidence to execute trades without fear of rejection. The AWS servers also provide Virtual Crypto with the capacity to conduct data analysis to determine trends and opportunities to develop innovative services for the cryptocurrency marketplace.
Simon Danilov, CTO of Virtual Crypto Technologies Ltd., commented, “This is a huge step to further improve our ‘fast confirmation’ product. It allows us not only to understand in-depth blockchain transactions, but also use machine-learning algorithms to further improve our prediction and validation mechanism.”
About Virtual Crypto Technologies Inc.
Virtual Crypto Technologies Inc., through its wholly owned Israeli subsidiary Virtual Crypto Technologies Ltd., has developed the NetoBit Trader, a proprietary, cryptographic algorithmic technology that it is able to confirm in real-time the purchase or sale of virtually any cryptocurrency.
Virtual Crypto’s NetoBit products dramatically improve the cryptocurrency trading experience with faster execution and lower costs. Setting a new time-to-transaction standard, trading in seconds rather the industry norm of 20 minutes, allows NetoBit customers to enjoy the best crypto-exchange rate at the point of transaction.
The Company is marketing its NetoBit Trader software and hardware products for the purchase and sale of cryptocurrencies through ATMs, tablets, PCs and mobile devices. Virtual Crypto Technologies further believes that the ability to immediately confirm cryptocurrency transactions in real-time provides a significant competitive advantage in making the purchase and sale of cryptocurrencies user friendly.