A Brief Introduction to the Cryptocurrency Market

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When Nakamoto Satoshi introduced the Open Ledger technology and Bitcoin, he probably didn't expect that the technology would be adopted at an incredible speed. In just a few years after its inception, the technology already gave birth to hundreds of cryptocurrencies. To date thousands of these cryptocurrencies are flooding the market. Along with the emergence of these cryptocurrencies cryptocurrency exchange services or exchangers also pops out one after the others—creating an industry that is valued in billion.

Like in other industries, some of these cryptocurrencies are successful, while others are not. The same thing could be said with exchangers, where some becomes behemoths, while others are forced closed their doors—just to be replaced by new players and technology, thus creating a cycle of birth and death in the industry.

End of Brief Introduction

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The Cryptocurrency Exchange Service

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Trading with cryptocurrencies requires the intervention of a cryptocurrency exchange service or exchanger. Currently, the only way to change fiat to cryptos, or cryptos to fiat is through these cryptocurrency exchange services—hence one cannot stress out the importance of cryptocurrency exchange services with words alone.

Unfortunately, these cryptocurrency exchange services are not perfect and are instead plague with problems—like high fees and lack of security. Some of them are even illegal and takes advantage of its users trust to gain profit for themselves.

But all of this will change soon thanks to the STREAMITY Project.

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_{Source: Link}

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STREAMITY

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The STREAMITY Project's goal is to create fair, trustworthy and easy cryptocurrency exchanges between users without the interference of a third party or intermediaries—making sure that users will benefit from the fast growing cryptocurrency market while minimizing risk at the same time—thus creating a true decentralized exchange service.

For added-value assistance, STREAMITY will also include services such as news, analysis, educational, and investment resources for investors—ensuring that there management and accumulation of cryptocurrency funds would greatly improve.

At the heart of the STREAMITY project is the STREAMDESK aggregator.

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STREAMDESK

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STREAMDESK is a P2P platform aiming to be the first true decentralized exchange platform, allowing the exchange of cryptocurrency to any currency or vice-versa. To ensure fairness and security for its users, STREAMDESK will utilize smart-contract architecture and API payment systems.

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_{Source: STREAMITY Website}

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The Advantages of STREAMDESK

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STREAMDESK have advantages that sets it apart from its competitors. Below are detailed explanation of these advantages.

One of the advantages of STREAMDESK over its competitor is that its fee is significantly lower; ranging from 0 to 2%, depending on the method of transfer the users chooses. This is a great advantage as bigger amounts usually means bigger fees. Imagine if a user decides to trade a big amount of fiat to cryptos and uses an exchange service with fees of 3% or higher, one can only imagine the amount that they have to pay for the trade

Another advantage of STREAMDESK is the use of smart-contracts. Certainly, STREAMDESK is not the only platform that uses a smart contract but how STREAMDESK implement their smart-contracts is vastly different. In STREAMDESK smart-contracts ensure that trades are carry out fairly. If a trade is being executed, the platform will hold the funds in the form of smart-contracts and will release it once both parties have agreed to the tranfer, thus avoiding the scenario where one party transfer the funds and the other runs away with it.

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_{Source: STREAMITY Whitepaper}

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STREAMDESK will also allow users to buy or sell cryptocurrencies at a fix price. Cryptocurrency rates will always come from the main exchange market which are automatically collected so that any change in the market will always be reflected on the platform—allowing users to choose the best time to buy or sell.

Lastly, STREAMDESK will not block either fiat or cryptocurrency. This is extremely important as it will allow users more freedom. But despite the freedom this setup will allow buyers and sellers to conduct exchange without going through a third party as fairness is assured at every trade in STREAMDESK.

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STREAMITY ROADMAP

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_{Source: STREAMITY Whitepaper}

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Conclusion

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The launch of the STREAMITY Project will definetly change how cryptocurrencies are traded in the market. By decentralizing the crypto exchange service industry, other cryptocurrency exchange service would have no choice but to follow or be left in the dust. But the biggest change that STREAMITY would bring is not just be limited to the crypto exchange industry, but the faster adoption of the Nakamoto Satoshi's Open Ledger technology.

With the exchange of fiat to cryptos being much cheaper, easier, and more secure than before, more people would be attracted to join this fast growing market as a result. And maybe, just maybe can even bring true decentralization that Nakamoto Satoshi had envisioned.

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Reference and Resources

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• STREAMITY Website

• STREAMITY Whitepaper

• STREAMITY Youtube

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This article is my entry to @originalworks writing contest. To join just click on the link provided: https://steemit.com/crypto/@originalworks/605-steem-60-bonuses-sponsored-writing-contest-streamity

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streamity2018

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