Streamity: A new era in P2P exchange.

solcross (52)in #cryptocurrency • 6 years ago (edited)

Streamity has identified this problem: Exchanges having a laissez-faire attitude, where they aren’t held accountable, seeing many countries are just coming to terms with the blockchain revolution. As a result of this, there aren’t any legislative laws to keep these companies in check.

Streamity is a peer-to-peer decentralised cryptocurrency exchange for the blockchain that hopes to create an honest enabling environment, where users can trade without incurring huge transaction fees, or have fear of incurring losses as is the case sometimes, in regular exchanges.

A key tool of Streamity is the StreamDesk Aggregator. This ensures that users are able to exchange cryptocurrencies for fiat, and vice versa with the help of smart contracts.

Smart contracts add a layer of security to the blockchain, and they ensure that instructions programmed into them are followed to fulfill such set parameters automatically and efficiently, leaving no room for error. These will also ensure that users are protected against fraud.

**THE CRYPTOCURRENCY SPACE WILL BE THE BETTER FOR IT**

Many individuals are turned off by transaction fees and time. On the other hand, there is the fear that they could be locked out of their accounts, without prior notice-which is a scary thought for me, and why I do not use exchanges frequently.

Most exchanges are centralised, and they have a single point of failure, hence they are prone to hacks. In the unfortunate situation that this happens, users will lose funds, leading to them feeling less secure. Then discouragement sets in and they exit. Thus, hampering the growth of the crypto space.

Seeing cryptocurrencies are volatile, they come with enormous risks. Exchanges want to exempt themselves from such risks, so they charge high commissions. With Streamity matching users to other users, they are able to charge less in a more secure environment.

Having a platform they can trust and being in charge will appeal to a lot of users, and the ease of converting fiat to crypto and vice versa will assist greatly in getting tons of users on board.

**EASY ENTRY/EXIT POINTS INTO CRYPTOCURRENCIES**

Being in control and having the power in your hands, to decide if a deal is good enough for you or not is another plus. For some users in some parts of the world, PayPal isn’t available. Having multiple channels by which requests can be funded- most especially Visa/Master cards, will ensure that more people around the world will be able to get on the cryptocurrency bandwagon seeing most of these individuals do not have access to cryptocurrencies to effect purchases, and the process of accessing them can be cumbersome/complex. Personally, this was the major factor why it took me so long to get involved with cryptocurrencies, and why I find steemit appealing-ease.

It also offers users a route to liquidate assets quickly, in the case of emergencies when access to fiat is needed urgently.

The blockchain was created as a result of innovation, and it’s only natural that innovative solutions continue to drive all blockchain ecosystems.

With existing solutions, the terms aren’t very clear at times, transaction fees are so huge that it takes away a lot from the value the user receives. Also, as in the case mentioned above, users had their funds frozen, and some lost them without any prior notice. This is because in traditional settings, exchanges put themselves first before users; In a P2P platforms, the users are the focus, and they can carry out transactions, knowing that without them, the platform will not exist. Hence, they know they will always be valued and treated importantly, irrespective of how large the platform grows. This doesn’t hold true, with respect to traditional exchanges.

**WHY IS THIS DESIGN USED? **
Pictures show a thousand words, and no better way to illustrate how something works, than through infographics. For the style, I prefer to keep it, simple, clear and classy. Keeping the focus on the message, and not clogging the readers view or taking his attention elsewhere.

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