Transparency Initiative — Txbit.io Update

Originally posted on: https://medium.com/@txbit/transparency-initiative-txbit-io-update-efaa5d1b6dca

Txbit was born out of a simple idea to provide a fair and transparent exchange platform for everyone to use. Today we take another step closer to achieving our mission statement through an extensive update we are calling “Transparency Initiative”.

With this update we aim to provide public information on various system related metrics, listed project related data and most importantly a real time proof of wallet reserves for each asset on our platform.

In this update you will get access to a brand new System Status page, Asset Information page about each project and proof of reserves (solvency) for each asset. All the information is also available through newly added API methods.

System Status Page

https://txbit.io/Assets

First major addition with this update is a brand new System Status page, accessible directly from the navigation bar at the top of the page.

On this page you will get an overview of all the currently listed assets on Txbit. For each asset you can see if the Deposits, Withdrawals and Trading are currently enabled or disabled, with an accompanying Note from the team regarding what certain functions may be turned off. You also get a real time view of the pending deposits and withdrawals.

Asset Information and Proof of Reserves

https://txbit.io/Asset/BTC

From the System Status page, you can click on the asset which will bring you to the asset information page. On this page you will find basic information about the project such as a short description, the type of asset it is and links to social media and other related resources about the project.

You may also access the asset information page directly from the Trade screen by clicking on the “i” icon located at the top of the screen.

Secondary to the project information of the project you will also find a balance sheet for each asset with details about how much is currently held in Hot and Cold wallets, total deposits and withdrawals and final balance which shows the solvency of each asset on our platform.

API v1.1 and better documentation

https://apidocs.txbit.io/

In addition to the above information being available through the user interface on the exchange, we also added additional API methods that developers and third party services can use to pull this new data in real time.

Additionally the API documentation was improved by providing descriptions of all the returned parameters for each API method.

Three new API methods are now available:

/public/getsystemstatus

Real time feed of the system related data about each asset, such as ability with deposit, withdraw and trade, as well as pending deposits and withdrawals for each asset.

/public/getcurrencyinformation

Used to pull the asset project related information about each asset, such as the description, asset type, various links to social media and other resources.

/public/getcurrencybalancesheet

Used to retrieve solvency information for listed currencies on Txbit. See the current Hot wallet and Cold wallet balances, Total deposits and withdrawals and the final balance to prove solvency. All calculated in real time.

About Txbit.io

Txbit is proudly made and based in the Netherlands. A cryptocurrency exchange built from the ground up to meet today’s demands in security, privacy, reliability and speed. The proprietary trading engine and interface deliver a blazing-fast, world-class user experience catering to traders who enjoy spending some time behind the charts, but also to those who prefer to be in and out quickly.

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