Bithumb Launches Blockchain R&D Center, First in South Korea

Bithumb cryptocurrency exchange has created its own research and development center. This initiative makes Bithumb the first company with a blockchain and cryptocurrency research center in South Korea.

About 30 people will be employed in the new R&D center, and it will start its activities this month. The Bithumb research group will study the design of the system architecture, analyze blockchains to isolate cryptocurrency trading transactions and develop a system for user address generation that allows for deposits and withdrawals on its exchange.

The exchange also plans to develop security technologies related to encryption, separation of functions and implementation of verification systems that ensure the safe storage and use of private keys. The Bithumb research team will engage in high-performance data exchange between blockchains and databases.

The new Bithumb team has already been tasked with creating an application programming interface for its cryptocurrency trading platform and upgrading its matching engine.