Israel-based Virtual Crypto Technologies now allows investors to conduct Bitcoin trades in real-time by verifying transactions directly with Amazon (AWS) EC2 servers.
Virtual Crypto announced on Friday that it has completed a full node setup on Amazon (AWS) EC2 servers and can now collect and verify all Bitcoin transactions directly, rather than relying on miners.
The set-up enables the company’s proprietary algorithm NetoBit Trader to more robustly predict Bitcoin transactions by tracking every Bitcoin transaction that has ever taken place, new transactions and all block headers.
NetoBit Trader uses this data in real-time to better predict the likelihood that a given transaction will take place, giving customers greater confidence when they execute trades and significantly reducing risk, transaction times, and fees the company says.
Simon Danilov, chief technology officer of Virtual Crypto says:
"This is a huge step to further improve our 'fast confirmation' product. It allows us not only to understand in-depth blockchain transactions but also use machine-learning algorithms to further improve our prediction and validation mechanism."
The data from these transactions will also be used to determine trends and opportunities and develop services for the cryptocurrency marketplace in future, the company says.
Virtual Crypto also launched a NetoBit tablet that can be used to purchase, sell and convert crypto transactions of up to $3,000 through e-commerce, websites, ATMs, tablets, PCs and mobile devices, earlier this week.