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BiteBTC VC Invests $10M in Distributed Data Center

15/01/2019

BiteBTC VC Invests $10M in Distributed Data Center

The BiteBTC Venture Fund allocated $10M for the construction of a new distributed infrastructure of data centers to host BiteBTC Exchange servers, including a system of distributed cold storage of crypto assets based on multi-signatures.
The updated infrastructure will include data centers in Singapore, Zurich (Switzerland) and Boston (USA). All processed data (trading operations, deposits, orders, etc.) will be mirrored in three data centers in real time to avoid even the minimal threat of data loss. Additionally, it is supposed to reduce the latency in processing orders to 10-15 ms.
All data centers will meet the latest fire safety requirements and standards for reliable information storage.

A unique feature of the new infrastructure will be a multi-signature system for accessing crypto wallets. This system is designed so that the attack on one or even two data centers is not critical and access to the wallets is reliably protected. Coins from cold storage can be obtained only after receiving all three digital signatures from the three data centers.

In the near future BiteBTC will launch a number of services that allow real-time monitoring of the health of each component of the exchange's infrastructure, including the operation of main servers, crypto assets storages, blockchain nodes and other functional nodes.

The BiteBTC management is confident that the requirements of security and reliable data storage will be highly appreciated not only by retail traders, but also will help attract large institutional investors.