The Dawn of An Internet of Value That Necessitates The Need For An Ideal Exchange
The Advantages of A Hybrid Solution of Centralized Exchange and Decentralized Settlement
Blockchain.io's hybrid solution of centralized exchange and decentralized settlement represents the very best that can be offered.
A centralized exchange offers the following advantages;
- Central servers are real fast and scale well.
- Matching engines on dedicated central servers are are blazing fast, allowing for real time trading.
- Margin trading on a centralized server is possible.
- Transactions on a proprietary central server are off-chain and effectively free.
Blockchain.io's decentralized settlement on the other hand guarantees high security and also enables cross chain settlement i.e, transactions between different chains (like Bitcoin/Ethereum) through Atomic Swaps which enable the trading of one cryptocurrency for another without a centralized exchange.
Blockchain.io's hybrid solution of centralized exchange and decentralized settlement is the ideal hence it allows blockchain.io to leverage the speeds and reliability of centralized servers which decentralized ones do not offer while also leveraging the trustless security of decentralized settlement which centralized exchange can never offer.
Understanding The Problems that Plague Cryptocurrency Exchanges and How Blockchain.io Effectively Solves Them.
Cryptocurrency Exchanges today are ridden with a lot of drawbacks which make them inefficient and ineffective in their primary role of enabling the mass adoption of cryptocurrencies and lowering the entry threshold into crypto space hence it is only with mass adoption that the internet of value can be realized. Therefore, one of the main aims of Blockchain.io is to solve these problems as currently experienced and usher in an era of seamless and efficient cryptocurrency exchange.Below is an explanation of the Cryptocurrency Exchange problems and how Blockchain.io effectively solves each one of them:
1. Lack of Security and Reliability
Over the years, since the inception of cryptocurrencies through the blockchain, Exchanges have faced the recurrent problem of security breaches which have led to the loss of millions of dollars in cryptocurrency. The Mt. Gox case always comes in handy to buttress this point. These security failures are as a result of the fact that most Exchanges operate hot, always online wallets which increase their chances of being breached. A non-secure exchange cannot in the long run be anyway reliable nor would it foster the mass adoption of cryptocuurencies and sunbequently the internet of value. Blockchain.io however, guarantees the highest form of security yet available.
How Blockchain.io Guarantees Security and Encourages Reliability.
Blockchain.io is poised to deliver a highly secure and reliable cryptocurrency exchange that surmounts the challenges of security as currently faced today. The blockchain.io cryptocurrency utilizes a cold wallet solution which is offline most of the time and only online when transactions are needed to be done. This arrangement minimizes to the barest minimum security threats which so many other exchanges are prone to, hence when user funds are online all the time, they are most prone to attacks. The cold wallet which in itself is secure also requires multiple signatures to access therefore strengthening its security and thus the overall security situation of the exchange. Furthermore, as an added security measure, the private keys to the wallets are in themselves split and stored in different locations. Blockchain.io would also ensure the detection of any database manipulation attempts through the use of time stamped logs as well as other measures to ensure that blockchain.io remains what it is, Ultra-Secure.
2. Non Compliance with Regulations
The cryptocurrency space as yet is one that does not yet enjoy the full approval of governments and other regulatory agencies possibly because of the fears of its impact on the world's financial system and the subsequent loss of economic power by governments. There are therefore various regulations that currently guide cryptocurrency use and trade, these regulations also bind exchanges too. However, most exchanges choose not to follow these regulations that guide the crypto space which more often than not lead their suspension or closure and the subsequent loss of user funds. Hardly desirable!
Blockchain.io's Stance on Regulations and Compliance And the Implications Thereof
Blockchain.io as a project is one that is ready to fully comply with cryptocurrency regulations as they are rolled out hence in a regulated space, compliance is the best bet to success. Compliance with regulations would ultimately guarantee the security of user funds hence they also aim to comply with all currently applicable European Union regulations.Compliance with regulations as simple as it looks is very fundamental, important and also very core to the very thriving of cryptocurrencies and the internet of value. Most big corporations and institutional investors have indicated interest in cryptocurrencies, however as large as their stake is, they cannot enter crypto space without it being regulated and they still cannot participate unless such regulations are complied to and their investment secure.Therefore, compliance to regulations by blockchain.io would ultimately open the floodgates of mass cryptocurrency adoption unto every interested institution. A plus for the internet of value!
3. Lack of Transparency and Outages
I had a friend who deposited a substantial amount of steem into one of the cryptocurrency exchanges in order to exchange for Ethereum. When he did, the exchange (for some reason which remains known only to them) disabled steem deposits and never credited the steem to him. Several mails sent to them yielded no results nor response till this day. The above only represents a fraction of the fate that exchange users suffer today. Most exchanges do not really care about their users as epitomized in lack of quality customer care and ultimately high risks operating with them just like the loss of my friend's funds. Exchanges do not also guarantee seamless service hence most, more often than not experience service outage in times of high volatility. Lack of transparency and indiscriminate outages in service are never part of an ideal exchange fit for the internet of value. Blockchain.io understands that.
A Transparent and Reliable Blockchain.io
Blockchain.io offers a highly transparent and reliable cryptocurrency exchange with highly regarded independent auditors taking up the task of auditing the exchange to ensure integrity. The blockchain.io trading platform would have next to absolutely no downtimes except where necessity requires it like during server upgrades. Also in order to ensure reliability, blockchain.io would be built to effectively handle high transaction volumes which would also ultimately remove the threat of DDoS attacks.
A Reason to Trust Blockchain.io? It is Being Rolled Out By Paymium!
When it comes to a specific thing one is skeptical about, the first question one asks is, "who is behind this?" The same applies to blockchain.io. However, with blockchain.io, there is no reason to fret. Blockchain.io is being rolled out by one of the biggest players in the Exchange industry, Paymium. Paymium was founded in 2011 as Europe's first bitcoin exchange enabling the exchange of Fiat (The Euro) into bitcoin. Siince its inception it has grown stronger and better and boasts of more than 170,000 active users ( who would obviously not be there if Paymium was defective). Paymium offers optimum security and has been hack free, is regulations compliant, accountable and reliable.Blockchain.io and Paymium therefore share a symbiotic relationship that would guarantee users the following;
- While blockchain.io is a strictly cryptocurency exchange, Paymium would offer blockchain.io's users a medium through which they can access fiat currency networks.
- Blockchain.io would be helped unto growth by the ability of Paymium's more than 170,000 users joining its ecosystem.
- Users from Paymium will be able to trade fiat for bitcoin or other alt coins on blockchain.io
- Transfers of tokens and coins between paymium and blockchain.io would be without transaction fees.
- Blockchain.io would serve as Paymium's window to the internet of value consisting numerous cryptocurrencies.
Paymium itself an established and successful exchange only serves as a pointer to what Blockchain.io could only do, -SUCCEED!
More Features of Blockchain.io Affording it Advantages Over the Conventional Exchange
Blockchain.io in addition to to its security, transparency, regulations compliance (and a host of other advantages) provides really cool features that makes it the one stop place for all stakeholders in crypto spaceranging from traders, instituitional investors to crypto development teams.Blockchain.io makes itself an El-Dorado for Traders through the folowing;
- Highly Performing and Efficient Trade Matching Engines
Trading on an exchange is made up of bids to buy an asset at a particular price and offers to sell at particular prices too. A bid must then be matched with an order whose values coincide for a trade to be completed. A matching engine is the core software and hardware component of an exchnage and is responsible for matching up bids and orders in order to complete trades. Blockchwin.io boasts of completely scalable matching engine with a deep order book that can process up to 2 million transactions daily. An efficient matching engine would no doubt ease trade for traders and investors.
- Peer to Peer Lending
Blockchain.io would allow traders to borrow funds from other users of the blockchain.io to trade on margin, a procedure where a trader uses borrowed funds to trade a financial asset which forms the collateral for the loan from the broker. Traders who lend would also be incentivized to do so through the ability of earning interests on their loans. This special feature no doubt would serve to bring more traders into the platform.
- Proprietary Lending
Apart from peer to peer lending, blockchain.io itself would engage in proprietary lending to traders. It would engage in lending the part of the exchange's whole inventory of cryptocurency funds to traders at an interest rate. Interest rates are set using demand and supply parameters to arrive at an interest rate that is fair. Traders would also be helped in the course of their trading through the ability to get large amount of loan from the blockchain.io centralized inventory.
- Basic and Advanced Orders
An order is an instruction to buy or sell on a cryptocurrency exchange. Blockchain.io incorporates a variety of order types for trader convenience and a seamless trading experience for both beginner and expert traders. These include order types such as market orders which are executed immediately at current market prices, limit orders to buy or sell a specific asset at a specific price or higher and stop loss orders which is an order to buy or sell an asset once it reaches a specific price. Other order types include trailing stop orders, self cancelling orders and expiration of orders. The availability of a variety of order types would ensure enhance trader experience.
- Transparent Auctions
Cryptocurrency auctions would take place on the Blockchain.io exchange transparently everyday in order to promote the trading of new cryptocurrencies. An auction only market order also caters to the need of placing auctions which will be executed at the final auction price or at the maximum price indicated by a limit order.
ICO and Token Listing Services
Today all across crypto space, many projects carry out Initial Coin Oferrings (ICOs) for their various blockchain projects. However, as many as these ICOs are, so are there many scams among them. A situtation which is a negative for cryptocurrencies as a whole.Blockchain.io offers to support particular highly vetted ICOs through its experienced professionals. The procedure for picking ICOs would be based on verifiable factors such as their legal compliance, the viability of their product, the uses of their token, market potential as well as other factors that go into making the perfect blockchain project. Projects supported by blockchain.io would also have their coin listed on the blockchain.io cryptocurrency exchange as well as other projects that have applied and passed through a strict vetting process by Blockchain.io's team of experts.The implications of Blockchain.io's ICO services and token listing are far reaching. It would enable investors to invest in credible ICOs and so secure their investments. Credible projects that are approved by blockchain.io's team of experts would also have their chances of success increased through assistance by blockchain.io's experts. A win win situation for all of cryptospace!
Utilizing Advanced Cryptographic Protocols
Blockchain.io utilizes the very best of available cryprographic protocols that would serve to enhance its services and make possible various operations and conveniences as cross chain settlement, higher scalability as well as privacy.
These cryptographic protocols include;
(a) Atomic Swap
HTLCs enable trustless atomic swaps by requiring that the receiver of a payment either acknowledge receiving the payment prior to a deadline by generating cryptographic proof of payment or forfeit the ability to claim the payment, returning it to the payer.
(c) Lightning Network (LN)
The Lightning network provides scalable solution to the blockchains's low transaction speeds and also ensure low cost of transactions through the leveraging of off chain micro payments. The LN was proposed by Tadeus Dryja and Joseph Poon and has the capability of processing up to two million transactions daily. These will have immense impact on blockchain.o's performance.
The BCIO Token and Its Uses
The BCIO is the official utility token for the blockchain.io platform. It has many uses including incentivizing use of the platform and fostering liquidity. Users hold their tokens on the exchange and they can be used for the payment of fees, discounted trading, survey participation rights as well as payment of loyalty rewards to users.
The Blockchain.io Crowdsale
Having read the foregoing...I hope you agree with me that there is more than enough reason to participate in the blockchain.io crowdsale which has been on for a number of weeks and closing on the 25th of October.
1. If you contribute more than 100 Euros to the CrowdSale using this referral code: "emwinVWrVCzugXiWVP3z", you will automatically get a 5% bonus.
2. The crowdsale has no softcap and the project will be executed regardless of the amount raised.
3. Any unsold tokens will be burned off.
Allocation of Crowdsale Income
With all its features, Blockchain.io is definitively the exchange that can foster the internet of value by allowing secure and seamless trading of cryptocurrency assets. Its affiliation with with Paymium is only an added assurance to the promise blockchain.io already holds.
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