An Extensive Review of ETERBASE: First Ever Regulation Compliant European Cryptocurrency Exchange

etherium24 (45)in #eterbase • 6 years ago

Everyone seems to be fond of Bitcoin and no doubt becoming an obession on many countries. However, progress of other coin seems to be quick and adoptation is really growing fast in the crypto space.

Thousands of cryptocurrencies being launch everyday and swarming the crypto space including those shitcoin and altcoins built for scamming lots of investors. But these cryptocurrencies to obtain value must have a good product with high demand on the market. Also, should be listed on different market to create some liquidity on what we called exchanges. Today there's exchanger emerged on market with different enticing appeal to the community.

The most common exchanges are the centralized exchanges which we can referred as a regular exchanges that operates like a normal trading platform designed for all types of traders. The inception of these exchanges that begins to sprout the market marks significant growth on market capitalization of this business. Without them we cannot gain traction worldwide. So as a trader you really want to be picky on choosing a good platform that will holds your asset.

Unfortunately, few exchanges are not favorable on traders and finding a good one with standard offer are all hoax and too good to be true. Why? Traders have different preference on what types of exchange will be suitable for them. Many factors that you need to consider based on your expectations and of course everyone wants a good service and the best right? Trading plaforms work differently from each other, but let me outline some options which traders consider on picking a better one.

Standards that an exchange should take into account and give prioritize if they want their exchange to gain popularity and enjoy by the community.

High Security
Liquidity
Functionality
Payment option ( crypto, fiat, credit card and other )

Now let me discuss this project I searched that caught my attention when I scanned their website, whitepaper and blog. This project is known as Eterbase.

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What is Eterbase Project?

ETERBASE is the first European multi asset digital cryptocurrency exchange platform that will cater a regular crypto exchange. Now we know that there's a lot of exchanges already swarming around the globe and I would like to outline and elaborate why this project can outperformed those leading exchanges on the market.

How do you know this project is worth following and not just an ICO cash grab?

By doing your own due diligence and DYOR ( Do your own research) The team will run with an impressive ICO later and just purely focus on the development of their platform. You can learn by watching the video on front page of their website as introduction. https://www.eterbase.com

The ICO details are not set yet but as of this writing, information like soft cap, hard cap, allocation of tokens for the crowdsale and etc are not yet fully disclosed. But i heard 300millions will be available. Also, the company already have reserved 1million EURO seed funds which is good for startup and building the platform. I know some of you are excited about this project and will get all info once they disclosed it publicly. But they have launch already a bounty campaign lasting for 6 weeks worth 10million tokens for giveaway.

Okay so lets discuss whats in the box now for this project and what makes this project different from X coin that has good code and ethical ICO or a solid team? First thing to know that ETERBASE isnt run by random people who introduced a project out of nowhere. ETERBASE crypto exchange is under the parent company of ETERBASE AG, a Liechtenstein company limited, registered in Vaduz.

What is Liechtenstein?

Its one of the financial instituion on Europe and one of the moat developed Fintech industry in the world.

Several things are outlined on their 43 pages whitepaper check here: (https://eterbase.com/whitepaper/)
but we will make a brief discussion what this future crypto exchange beast will offer us.

Exchange Platform

As a trader, one thing should an exchange offer is a good platform with lots of features that if not unique is bold enough to cater every traders and investors need. Some exchange from start of ICO promise to many stuff but the output delibrately changes once their platform goes LIVE. But knowing this project I doubt they will be like that.

What are the Features and functions of Eterbase?

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Zero Fees

What does this mean? The fees for market makers and takers are zero which will be depend on the XBASE balance or membership tokens. They also put this kind of incentive in a more wide options so the users will benefit from it. Based on fee Structure, the higher the tiered membership comparison the lower the fees will be deducted from your portfolio in doing transaction, masternode activation, and proof of staking. They have 4 types of tiers membership comparison. From Basic, Plus, Professional, and Premium.

Compliance

This feature will totally make you feel comfortable knowing that the exchanger you are using are fully comply with the rules set by the European legislative standard AML ( Anti- Money laundering ) and CTF ( Counter Terrorism Financing). Ofcourse, KYC procedure and verification is in place to avoid fraud and scam activities on the exchange.

Low Latency

In terms of latency, I think the bitcoin and ethereum are already been slacking about their TPS. But with ETERBASE highly scalable modular aechitecture which can accomodate million of transactions per second can make a good progress. In additon of the Four layer root-spine-leaf autoscaling lead nodes this will make persistent and accurate order, as well as precise storing of data in sharded database. Various API types and modules also integrated to make sure considerablw throughput and a very low lantency that make their platform smooth.

Transparency

Ofcourse ETERBASE will integrate third-party cold storage to ensure safety of the funds being transacted and process in the platform. A regular external audit also help monitored unusual transactions occurred and potential for hoax and illegal activity.

Bank Grade

This is the most interesting part of ETERBASE the releasing of IBAN accounts and Euro pairings. Right now the parent company is in process of applying for an EMI ( Electronic Money Institution ) license to allowed KYC verified customers to have an account with unique number code known as IBAN ( international Bank Account Number ). With this, they can easily transact on all countries covered by EMI without having involved on any banks. So I think for me this is the best part of ETERBASE product. Following the approval of EMI licensing they will start distribute eterbase debit card which will be conveniently used as a normal debit card or fiat to crypto transaction. Unfortunately, the acquiring of license as per timeline on the roadmap will happen on the first quarter of 2020. But who knows maybe the team can expedite the process on the following months.

What is the benefits of Membership program of ETERBASE?

Membership will be entitled with tokens of ETERBASE ( ETX ), but membership will be have a sub level category in which you can maximize the benefit for each levels. See attached image below for membership features.

Right now, ETERBASE have promo of early adopter Plus Membership which will lasted until August 15, 2018. I myself registered with this and likely to be part of their early adopters member that will benefit 10k tokens to be used on their exchange and avail discounts and promo.

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