LocalCoinSwap — The Community-Owned P2P Exchange

novikov433 (27)in #blockchain • 6 years ago (edited)

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LocalCoinSwap (LCS) is a decentralized market that allows buyers and sellers to trade directly in any crypto currency, using any form of payment. The advantage of the platform is that now you do not need to wait for 5–10 + minutes to confirm transactions, because the platform runs on a modern p2p algorithm that clears all errors. Now you can entrust your funds and without worry to make operations inside the ecosystem of LocalCoinSwap, because unlike the outdated decisions due to which the users lose their money, an advanced business direction is used. The advantage of the system within the platform is expressed in the public voting, on the basis of which the users themselves decide which companies are the most stable and profitable as investing funds, for the holding and also dividend. Funds collected from these events, the project team, which has many years of experience in the field of investment, will allocate investments in improving the work of the platform, introducing new assets for investment. The advantage of p2p in the LocalCoinSwap (LCS) algorithm lies in the bona fide loyalty system, as developers need to create a strong investment community in which each participant will feel support at all stages of their investment. I, as a practicing stock market speculator, face the same problems when everyone wants to take money in a fraudulent way around the stock market, the same community within the platform will entrust their savings to investors with many years of experience, thanks to the fact that they put loyalty and help first , which can not but delight. LocalCoinSwap will be the catalyst for expansion of the cryptocurrency market by enabling new users through the elimination of allbarriers to entry. For operations inside the platform, an advanced LCS Cryptoshare exchange algorithm will be used. This system will be integrated into blokhain, which will secure the public data of earnings as well as truthful information about dividends. LCS Cryptoshares allow all traders on the exchange to take ownership in the platform they are trading on. Despite the straightforward nature of this concept, LocalCoinSwap is the first ever implementation of an exchange where the profits are distributed entirely through a smart contract Cryptoshare system, with the initial launch planned by August 2018. LCS Cryptoshares are not like traditional ICO tokens. Instead of a vague promise of possible future returns or idealistic visions which may never eventuate into product, Cryptoshares entitle the holders to guaranteed rights to 100% of the total profits from the Localcoinswap exchange through cryptocurrency dividends. Cryptocurrency profits are paid to shareholders in the same cryptocurrencies in which they are made, allowing the investor to receive a regular stream of portfolio income. By holding a single Cryptoshare asset, the investor is entitled to a wide variety of cryptocurrency profits across the entire spectrum of the digital economy.
How the ecosystem works?

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The protocol behind the LCS Cryptoshare, dividend distribution and voting token is provably achievable with existing technology and does not require any fundamental advances in Blockchain technology to implement. The development focus of the Cryptoshare is on the direct utility it provides for the user rather than aiming to be disruptive technology.At the end of each financial period, profits for all cryptocurrencies are calculated and published publicly before being distributed back to LCS Cryptoshare holders. A dashboard is available on the LocalCoinSwap platform detailing the dates, amounts and distribution details for the current period. To claim dividends such as ETH, BTC, BCH, DASH, ETC, or Monero, the holders of LCS Cryptoshares are automatically entitled to claim ERC20 dividend tokens on a 1-to-1 basis according to their holdings of Cryptoshares. After claiming the dividend tokens, holders can use the token to sign a messagecontaining their wallet addresses for the currencies they wish to claim. They then broadcast the message and dividend tokens back to LocalCoinSwap’s decentralised contract address, at which point the dividend currencies are transmitted automatically to their respective wallets. Alternatively, the dividend tokens can be redeemed directly into the wallet balances of user accounts on the LocalCoinSwap platform. The total issuance of dividend and voting tokens will be the same as the total supply of LCS Cryptoshares. These tokens are then issued to holders of LCS Cryptoshares on a 1-to-1 ratio. LCS Cryptoshares will entitle users to a vote in the listing priority of new currencies through adirect democracy contract using their voting tokens. Cryptoshares owners are valuable members of the LocalCoinSwap community. As such, they are entitled to provide input in all facets of site development, new business ventures, as well as having complete ownership of their respective share of profits. Cryptoshare holders may submit questions to be voted on through the platform’s integrated community forum.
LocalCoinSwap Trading Platform

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Development on the LocalCoinSwap platform began in August 2017 and is estimated to be ready for initial release by the end of August 2018. The platform borrows the best elements and features of existing platforms but has been redesigned with an enhanced focus on user experience, coin additions and incorporation of social media interactivity. The core development philosophy for the LocalCoinSwap platform is: safe, easy, enjoyable. Primarily the platform has been developed with the security of the user in mind. Careful attention has been taken to implement intrusion detection mechanisms and segregation of critical components. Extensive research was conducted on previous hacks and the security models of comparable exchanges before development began. The ease of use of the platform was the second most important design consideration. It is important that the user has a smooth experience, can quickly find and use the features they need, and is not burdened by excessive pages or complicated interfaces. Where possible the focus has been on offering as many features as possible while maintaining visual simplicity. The signup process has been streamlined with no identity verification required for registration. Users are able to quickly access the platform and begin trading immediately with no restrictions.In the event of a highly successful crowdsale there will be several new community ventures immediately available for a vote by LocalCoinSwap Cryptoshare holders. In the event of a less successful crowdsale the votes will be undertaken as soon as sufficient revenue has been made by the platform to expand. Holders of Cryptoshares are encouraged to submit ideas for new ventures to be taken to a vote. These could include but are not limited to

•Full integration of all ERC20 tokens through a dedicated development team.

•Translation, marketing, and support staff for the platform in new geographical locations where English is not a primary language.

•Enhanced token listing services for new ICO’s including rating systems and seed funding.

•Customizable themes and trading interfaces

•Secondary atomic-swap marketplace built on top of P2P platform.

Strategic partnerships within the cryptocurrency community.

Security

A full-time dedicated security team has been enlisted to safeguard all vulnerable information at all times. 95% of cryptocurrency deposits will be stored in offline wallets to minimise potential lossdue to hacking. Regular security audits by penetration specialists have been scheduled to ensurethe security system is fully up to date. In addition, third party monitoring systems have beenimplemented for all servers with automatic shutdown mechanisms in cases of detected intrusion.
About the LocalCoinSwap team and company

LocalCoinSwap team draws on a wealth of experience from a wide range of fields, including Economics, Computer Science, Commerce, Marketing, Maths & even Molecular Genetics.The decision-making process in the development team is democratic and based on the vision shared by all members of the team.LocalCoinSwap operates under a corporate entity in Hong Kong, which was first incorporated in 2015. It originally operated as a private hedge fund owned by two of the staff members before development of the exchange began. Geographically the staff of LocalCoinSwap reside in Hong Kong, Australia, Canada & New Zealand. Team project strongly believe in the success of our company and look forward to partnering with the cryptocurrency community as we work together to strengthen the digital economy.

Aapeli Vuorinen Lead Security Engineer Bachelor of Mathematics (Major in Pure Maths). Data analyst, white-hat hacker and full-stack developer. Over 10 years of experience in software development and systems administration. Experienced with a wide variety of technologies including Python, Java, C++, Javascript, Pandas, HTML5/CSS/Javascript, Go, Matlab, Git, Linux, and SQL.Exceptionally talented at understanding and utilizing network and software protocols.

Nathan Worsley Chief Technical Officer Bachelor of Economics (Major in Econometrics) Early investor in Bitcoin and Ethereum. Developer of a series of successful trading algorithms based on Triangular Arbitrage between cryptocurrencies. Original founder of company as a cryptocurrency investment fund based in Hong Kong: Digital Assets Management Ltd. Experienced high volume P2P trader on LocalBitcoins.com. Development experience includes C/C++, Python, R, Matlab, PostgreSQL, Git, Bash & Linux.

Thomas Underwood Chief Financial Officer Bachelor of Commerce (Major in Accounting and Finance) Experienced business development manager and financial expert. Managing director of a successful private equity company with a diverse portfolio across several asset classes. Customer acquisitions regional manager at TradingView.com.

Valéri Natanelov Chief Marketing Officer PhD, Commodity Futures Markets Entrepreneur. Founder and CEO of growAbric (knowledge brokering and design thinking company). Lifelong blockchain enthusiast. Extensive international business experience with a strong passion for design thinking and solving complex problems. Has lived on every (habitable) continent. Fluent in four languages.
LocalCoinSwap Potential Revenue Projection (all currency data in Millions) Crypto-currency Trade Volume 2017 $USD Average Monthly Growth Rate 2017, 2019, 2020

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