Connectivity Protocols are standardized sets of rules and formats that govern the exchange of data and commands between disparate systems within the cryptocurrency ecosystem. They establish the foundational communication layers necessary for interoperability among exchanges, liquidity providers, trading applications, and institutional platforms.
Mechanism
These protocols define the syntax, semantics, synchronization, and error recovery methods for data transmission. Examples include FIX (Financial Information eXchange) for order routing and market data, or custom WebSocket APIs for real-time streaming, enabling systems to reliably send and receive trade requests, market quotes, and execution reports across network boundaries.
Methodology
The methodology focuses on achieving low-latency, high-throughput, and secure data exchange, crucial for institutional crypto trading. It involves specifying message dictionaries, encryption standards, and authentication procedures to ensure data integrity and confidentiality, thereby supporting robust and scalable financial infrastructure.
FIX Protocol offers low-latency, structured messaging for complex institutional trading, while REST APIs provide web-centric simplicity for broader data access.
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