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Sponsored article. Keeping transparency and transparency Cryptocurrency exchanges is important. Achieving these two determinants may revolutionize the market. The cryptocurrency exchange hybridity is an extremely desirable solution. Team CoinCasso I'm working on this possibility. The company's premise is to combine the advantages of centralized and decentralized exchanges. If the platform implements its idea, it will be the first such venture in the world.
Also check: Paris Saint-Germain joins forces with the CoinCasso cryptocurrency exchange
Are centralized exchanges unrivaled?
By far the most popular are centralized exchanges. Their advantage is greater liquidity, faster transactions and the activity of many users at the same time. They work similarly to traditional stock exchanges. Transactions can only be made through mechanisms provided and approved by the Central Authority. The exchange owner controls them. Transactions mainly depend on the entity or broker that controls the flow of traded assets. Users pay funds directly to the platform, and then the exchange becomes responsible for the execution of buy and sell orders in real time.
Through the management system of centralized cryptocurrency exchanges, they are vulnerable to failures often associated with hacker attacks. That's why security and transparency is an important factor in building trust for a given exchange.
Decentralized exchanges - security is a priority
That is why they arose decentralized exchanges. Their main plus is protection against possible threats. DEXs ("Decentralized Exchanges") offer many benefits that increase the security of all user funds. Decentralized exchanges are not controlled by a single entity or company. Of course, the server that hosts the domain is centralized. However, the exchange itself is not supported by any single device.
Decentralized exchanges generally rely on Ethereum, NEO, EOS, Tron or other blockchain platforms that allow creation tokens. Transactions are carried out through the use of Smart Contracts. To steal funds, a hacker would have to perform an attack on the entire blockchain (eg the so-called "51% attack").
Comparison of centralized and decentralized exchanges
Source: https://xena.exchange/blog/the-dilemma-of-liquidity-and-security-centralized-vs-decentralized-exchanges/
If there is no single supervisor decentralized exchanges, there is also no single point of control over user funds. Therefore, it is the users who have the continuous ability to supervise their funds, and all transactions are based on the peer-to-peer mechanism.
However, at present, all working platforms with decentralized characteristics are not perfect. Their main problem is poor speed blockchaina. Even the best polished blockchains cannot be matched by a decentralized stock exchange, especially in terms of the number of transactions performed per second. DEXs face a huge problem of scalability. Decentralized exchanges are also more difficult to operate than a centralized solution. Breaking through a number of smart contracts definitely scares off novices. No registration is required to use DEXs. Unfortunately, every transaction requires a private fund transfer portfolio and back again - this action is time consuming.
What do users expect from exchanges?
The conducted analyzes show that centralized exchanges dominate over the decentralized solution. 81% of users chooses centralized platforms. However, the volume of their trade is as high as 99,17%! It will be difficult for decentralized exchanges to dominate the market. The percentage of users choosing this type of solution is only 19%. It is even worse in the case of the number of transactions performed - 0,83%.
Source: https://www.fintechfutures.com/files/2019/10/decentralised-vs-centralised.png
You can easily deduce what type of stock market prevails on the market. However for enjoying cryptocurrency exchanges by far the most important factor in using them is security, which is better observed in a decentralized system. 40% of users considers the conservation aspect of paramount importance. Exchanges should also improve the elements related to the quality of trading and the liquidity of transactions - over 30% of users consider them as priority determinants when choosing a given platform. Why are all these aspects so important? All this translates into the efficiency of exchanges and their possibilities. Creating a solution that would combine all these important factors would certainly be a remarkable achievement.
Innovative design - that's what counts!
CoinCasso probably known to all enthusiasts cryptocurrency, Bitcoin and blockchain technology. Platform marketing is conducted so that messages reach a carefully selected audience. However, it is worth introducing the general idea of the platform, which is promising.
"The whole project is based on a holistic approach. CoinCasso is not just a stock exchange"- the statement of CoinCasso CEO Luke Ozimski perfectly presents the visions of the entire project. This solution will be the first project of this type in the world. Its holistic nature means introducing new methods on several business layers that relate to cryptocurrency solutions. It is an opportunity that makes it easier to use them.
But what exactly is CoinCasso? The project is fully democratic - created especially for users and built with them. The project has an Estonian license that confirms its safety. It is worth adding that CoinCasso as part of ICO acquired funds in the amount of approximately USD 3 million - therefore the development opportunities are huge.
CCX token - what distinguishes itself from hundreds of other tokens
The enterprise is distinguished by the CCX token and the ability to share profits with its owners. As a result, users become part of the community and can receive partial income from the platform's activities. Tokens can be owned by any user and freezing them offers many benefits. The advantages above all include the reduced commission for cryptocurrency trading, the right to vote on the order of tokens added to the stock exchange and the opportunity to participate in other CoinCasso projects. In addition, 80% of the profits of the exchange platform are distributed to owners of frozen CCX tokens. The platform is legal, fully open to exchange users, whose funds are always visible and can be monitored by the entire crypto enthusiast society.
The whole idea was created by the limitations of other exchanges on the market. The possibilities presented by the CoinCasso team perfectly combine all the advantages of these two solutions. They would ensure full transparency, security and increase the speed of transactions - that's why an innovative blockchain has been developed!
CoinCasso - the first hybrid stock exchange in the world
What distinguishes a blockchain designed by CoinCasso? Allows users to set codes and track the current state of blocks. This means being able to supervise every transaction and ease of profit calculation. People who have more funds will be able to mine blocks and receive mining rewards.
The use of the "Authenticated Proof of Random" consensus algorithm in building a blockchain meant that each indicated node can extract blocks. At the time of introduction, 16 nodes will be active, of which 8 will be allocated to the exchange. The rest will be distributed among the largest number holders CCX tokens.
In addition, each block will contain information on all transactions, commissions and fees carried out on the stock exchange. Transparency will easily allow the calculation of the current state of the portfolio of people using platform - summing up all blocks from the beginning.
The block mined every minute and all the information contained therein are approved by the Network. When there is a problem with the funds or the exchange software - the block will be extracted, blocking operations on user accounts in which there was a non-compliance. The lack of integrity of the node with the rest of the network will result in the rejection of the block and the blocking of the node.
A reward, in the form of part of the commission belonging to the stock exchange, is possible for mining the block. With noda, users can easily receive additional funds.
The whole idea of the project and its implementation illustrate how important the team's approach to developing the cryptocurrency market is. The use of interesting solutions CoinCasso will introduce a new quality and change the face of digital currency exchanges.
