An increasing number of Android users interested in the Klever Exchange recently have been given the opportunity to beta test the company’s newest product rollout. And, overall, based on early returns, the Klever Exchange passed its first public test with flying colors, including one aspect in particular: transaction speed.
Bottom line: While this is a beta version and final product judgment is reserved for the future, Klever Exchange apparently accomplishes the major speed goal it promised, which means Klever may very well be positioned to immediately set a new performance standard for all current and future similar cryptocurrency projects.
That has to be satisfying to the company considering everyone associated with it – from co-founder and CEO Dio Ianakiara down – has not been bashful in promising the speed component.
“Just witnessed the benchmark proof that #KleverExchange beta processes 3 million transactions per second, which would make it the fastest exchange on the #crypto market!” tweeted Klever Director of Communications Misha Lederman, on April 10.
A little more than month later, users of different levels – from day-traders to those more casual in trading needs – are reflecting what Lederman referenced.
“It’s FAST, like REALLY fast and responsive,” said @TheRealMadnessJ, who has developed a following on Twitter and elsewhere through chart analysis and project reviews.
“The [Klever] exchange speed is freaking awesome. Fast, smooth and responsive! It’s a friendly user.” said @RhodaAngelica, a user out of Philippines.
“I did not expect the Klever exchange to process my orders as quickly as it did; it was amazingly fast! Klever set the bar high,” said @SamTheCarpetMan, an avid Klever supporter who bought an Android phone for the sole purpose of being able to test the Klever Exchange sooner rather than wait for the iOS beta version to be released.
So, what is Klever doing differently than other Exchanges?
“The Autonomous Orderbook instances follow an event driven architecture together with a matching algorithm based on binary trees, allowing #Klever to receive & process each order in a much faster way,” Lederman tweeted in April. “Each keypair (i.e. #KLV/#BTC) is orchestrated by an autonomous orderbook, which means that the ability to process 3M transactions per second isn’t actually related to the #KleverExchange as a whole, but each keypair.”
Past that, users pointed out Klever appears to have again stuck to one of its stated core principles – which is to make every experience with its products an easy one for users.
“What I like the best is the simplicity of the app everything is simple from the icons, theme colour and the tabs. All were structured very simple and easy to navigate,” said @AminuGsabo. “I also love the way user can sign up – it is very fast and simple. You can signup in less than 2 minutes.”
“It’s user friendly and you can easily see that it’s made so anyone can use it regardless of experience – the ‘Apple’ kind of way of thinking that appeals to most people,” said @TheRealMadnessJ.
“The UI is brilliant, the animations, colors*, etc. are smooth and enjoyable,” said @RhodaAngelica.
*Things like color and such may not seem important – but, as a professional marketer, I can tell you it does matter to common users. It is no accident that everything from casinos on the Las Vegas strip to kids cereals are lit up in neon and flashy color schemes. They draw you in and invite you to stay.
In the interest of fairness and full reporting, I also asked users, “What’s something unexpected you’ve come across? Good or bad?” and “Something else you would like to see?” After all, that’s the point of beta testing, right? To discover loopholes, wrinkles and small missing pieces that can be closed, fixed, or added up front? It means such things can be added before full public launch and be all the better for it. In other words, just because it wasn’t part of the initial test, that doesn’t mean the first fully public version won’t have it. (Or, maybe it won’t. Who’s to say?)
With that in mind, some of the early returns said …
“It’s missing an in-depth chart, and that makes an experienced trader like me having to use two apps to get the job done (klever exchange + tradingview),” said @TheRealMadnessJ.
“I think the transaction fees were relatively high,” said @AminuGsabo. (This was pointed out by another tester on Twitter also, with Iankiara acknowledging it with a “Noted.” reply tweet.) “I also noticed when you placed an order and then you cancelled it, you will be charged. Though it happens once, when I try to repeat that loop, it was okay.”
“[What] I would like to see in the future is: easy to cash in and cash out. Since that’s the most problem in some countries,” said @RhodaAngelica. “Low fees in every transaction, hopefully.”
Personally, I am an iOS user and have not tested Klever Exchange. However, if I’m throwing my thoughts out there in things I’d like to see – I concur with all of what these users brought forward. If Klever implements cutting-edge trading tools, and, I think, the ability to export transactions in a summary-style report for those users who need it for tax purposes, along with easy on-and-off-ramp tools? In addition to unmatched transaction speed?
Well, do all that, and as I said at the top, Klever may very well be positioned to take the crypto community (and beyond) by storm and set a new exchange performance standard that, frankly, should and will push it to the top of many preferred lists in a hurry. The landscape desperately needs an exchange that isn’t carrying a million Bitcoin worth of shady baggage or under constant rumor or threat of investigation.
My thanks to everyone who shared their thoughts with me for this piece. Very much appreciated! If anyone ever wants to slide into my Twitter DM’s with tips, thoughts, etc., please do @curtiskitchen.
Curtis entered the crypto space as a blockchain and crypto enthusiast in 2017. In addition to those things, he currently serves on the American Society of Association Executives (ASAE) AI Ethics Task Force – a group dedicated to guiding associations on ethical standards and practices for implementing AI. He holds KLV in his portfolio and while he loves discussing “what’s out there”, he does not provide financial nor investment advice.