Streamr is proudly announcing a new integration with the leading global cryptocurrency exchange, Binance. As of today, Binance’s real-time trades and quotes data for all asset pairs will be offered as a free product on the Streamr permissionless Marketplace.
The new offering means that Binance will be the first crypto exchange whose market data is distributed over a decentralized network, which brings two major advantages for algorithmic traders:
Firstly, traders now have the ability to conveniently integrate Binance’s data with various other data streams, such as sentiment data and data from other markets, via a single technical integration, to gain better insights and find more profitable trading strategies. Many traders take their data from market data aggregators instead of connecting to exchange APIs directly. Historically, they may have made sacrifices in latency, however decentralized data-sharing protocols like Streamr successfully scale to large user numbers and are, in many cases, able to deliver data faster than centralized aggregators.
Secondly, traders can expect better security, which in turn means more reliable data. Unlike data from centralized aggregators, the data published to Streamr is cryptographically signed as close to the source as possible, making it tamperproof. Decentralized systems also tend to be less vulnerable to DDoS attacks and are censorship-resistant. A P2P network’s infrastructure design makes it difficult for nations or ISPs to block access to the data by simply blacklisting an IP address, and the same goes for attackers targeting single IP addresses.
Utilising the Streamr peer-to-peer Network for backend delivery, Binance’s data streams will also be available to developers via the Streamr API, as well as in the drag-and-drop analytics tooling included in the Streamr Core web application.
“By connecting Binance’s market data to the Streamr Network, we want to encourage and enable algorithmic traders to build better automated trading strategies and combine them with other data resources on Streamr,” said Henri Pihkala, Co-founder of Streamr. “In this way, we hope to give traders an edge in convenience, speed and security. And generate more volume for Binance on all traded assets.”
The content here is for informational purposes only and should not be taken as legal, business, tax or investment advice, or be used to evaluate any investment or security, and is not directed at any holders or potential holders of the DATA token.