Birake - One Exchange To Rule Them All | Own Your Own Exchange Today!

awolesigideon (51)in #birake • 6 years ago (edited)

Cryptpcurrencies and blockchains have now become part of the daily life of most people, either they know it or they don't . Blockchain has permeated into real life activities because of the infinite applications it has to offer.

But till the moment of this article, most countries all over the world have not signed off on recognizing cryptocurrencies as a means of payment, so the need to convert these Cryptocurrencies into regular fiat ( local money) rises up. To fill this need, crypto exchanges have begun to rise up to help convert coins and tokens into bitcoin for trading to fiat. A coin can be listed on as many as 10 or even 50 exchanges. But the volume of the coin traded on these exchanges may certainly differ. This can be difficult when one wants to make a quick trade and has to wait and transfer or wait for confirmation and by that time the coin value may have dropped.

For instance, I laid my hands on a particular coin a few days ago and I sent it to the exchange for trading. When I checked through, I realized that the rate was a bit low so I waited. Two days after that, the coin listed on another exchange and I hurried to transfer it from that exchange to the other so I could get a high return. What happened on that day still gives me nightmares. I had 200 of that coin in which 1 sold for 50,000 satoshi on the new exchange. By the time my coin eventually got to the new exchange (45 minutes later) the coin had dropped to 1000 satoshi. It was an unforgettable experience.

Another challenge of Cryptocurrencies and exchanges is that unless you have a trading app (and even then) you cannot know the individual price of the coin on respective exchange. For instance the coin could be trading at $7 on one exchange and $12 in the next. If you had knowledge of this, you could easily buy in bulk from one exchange and sell on another and make instant profit.

This is a problem. What is the solution?

Birake

Birake is a complex network of exchanges that will contain the biggest database of orders/users and achieve the biggest trading volume from cryptocurrency area. The unique benefits of Birake can be summarised in 3 parts:

- Visibility

Each and everyone on the Brakes network will be able to see all the prices for each coin on different exchanges. The database of orders concept will allow each user in each platform to have access to each order on every platform. So users can decide to pick from options which exchange platform to trade in.

- Interconnectedness

Birake plans to unite large number of different cryptocurrency exchanges creating a connected network. The plan is to become the biggest cryptocurrency exchange network with sharing orders between platforms. This means that you will be able to place a send/buy order to multiple exchanges at once. For example, User A from exchange1 can trade with User B from exchange2 and will be charged
with different fees. Amazing right!!! That misfortune that befell me up there would not have happened if they had done this earlier. (sniff*)

- Own Your Own Exchange

A great thing about Birake is that everyone can own their own exchange. All that is required is to pay a small monthly fee required to own the exchange. Furthermore the exchanges running on Birake network will have orders openly shared between networks.

Essentially :

Step 1. Domain owner buys one of Birake’s packages with BIR, for example, 10 000 Birake Coins (0.3 BTC) / month for a fully functional platform
Step 2. Website owner set his own fees and start personalizing he’s platform
Step 3. Website owner brings new users to his platform
Step 4. Those users start trading within Birake network with all the users registered in Birake network
Step 5. Birake platform calculates all the fees individually from one platform to another
Step 6. Considering the package aquired the total fee accumulated will be split between a website owner and Birake company (example 60% to the website owner and 40% to Birake)

Benefits:

– custom domain name
– custom logo and personalization
– possibility to set custom fee per transaction
– all the active orders will be available to anyone from BIRAKE network and vice versa all orders from BIRAKE network will be available to owner
– technical support
– possibility to add one cryptocurrency to BIRAKE network (depends on package acquired)

About Birake Coin

Birake Coin was launched in august 2018 forked from PIVX.
Its mining system is Proof Of Stake + Masternode rewards.

COIN SPECIFICATIONS

Coin name: Birake Coin
Ticker: BIR
Algorithm (POW/POS): Quark
Block reward: 30 – 260 BIR
Masternode Collateral: 10000 - 50000 BIR
Masternode Reward: 90%
Staking (POS) reward: 10%
Block Time: 60 seconds
Total supply: 300 000 000 BIR
Premine: 6 000 000 BIR (2%)

Acheivements

Despite the fact that the coin was launched in this month (August 2018), Birake has already been listed on the following :

https://masternodes.online/currencies/BIR/
https://masternodes.pro/stats/bir/statistics
https://mnrank.com/coin/BIR/
https://mncn.online/coins/BIR
https://mnprofits.com/birake

This simply shows that Birake means business and is ready to deliver the most powerful exchange platform the world will see. Indeed, an exchange to rule them all. By 2019, Birake plans to be trading more than 25 different Cryptocurrencies!