Steemit Crypto Academy | A Comparison of HedgeTrade and TrustSwap
To compare two cryptocurrencies from HedgeTrade and TrustSwap, you have to understand what they are and how they relate to each other. In order to do that, first let us take a look at how they develop their blockchain tech.
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What is HedgeTrade?
The HedgeTrade platform's rapid growth in 2019 surprised many others in the crypto scene. It was launched to promote the revolution in social investing with the use of blockchain technologies.
The currency was ranked among the top 150 cryptos in march 2021 thanks to the development of the HedgeTrade program (dApp). The app was created exclusively to provide consumers with crypto trading analyses, forecasts, and educational material as a bonus.
Screenshoot from Coinmarketcap
Its primary aim is to connect young and seasoned traders, who are often divided by significant information differences about social trading. HedgeTrade offers more advanced users a forum that helps them communicate their insights while still receiving several HEDG tokens to present reliable details.
Simultaneously, less advanced consumers may buy trading forecasts bundled in the shape of so-called schematics, further protected by the HedgeTrade contracts.
In time, the information gained in this manner could enable these participants to interact in skilled trading themselves, especially with the aid of the market tools offered by HedgeTrade for both professionals and beginners.
The project's token sale occurred in late 2018, under the Rublix group's umbrella, which provides financial technology solutions combined with a blockchain network.
How does HEDG work?
HedgeTrade functions by coordinating schematics and smart contracts on the one side and group stakeholders on the other. In this way, the network provides unity in the technical and human resources, both rendered possible by blockchain technologies.
A blueprint is the core principle of the HedgeTrade. It is known as a particular prediction produced by a consumer on a specific financial instrument. Blueprint formation is achieved with the HedgeTrade scheme's aid, which stores them and evaluates them until the appropriate date expires.
HedgeTrade may mark a particular blueprint (prediction) as accurate or false and award acceptable prizes to the prediction creators or blueprint purchasers after the expiry happens.
Blueprints are created and submitted to HedgeTrade's smart contracts, which are implemented on the blockchain. As a result, the saved forecasts and the creator's previous track record are impervious to tampering or changes.
When designing a blueprint, users must determine two-goal price points: the entry value and the exit value. The HedgeTrade Oracle, which acts as an automated device that appraises trade outcomes based on the given details, would appraise these about a which was before date.
External evidence collected by third parties is used to make evaluations. In any event, the prizes for accurate prediction are HEDG tokens submitted from any individual who bought a particular blueprint.
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Blueprint consumers who think a sure prediction has any meaning for them are often entitled to reimbursement if the bought forecast is found to be wrong before it expires. The first ten users who buy a blueprint will be compensated in HEDG tokens.
HedgeTrade has a rating system named the HedgeTrade Rating and Score, which ranks traders depending on their trading background, the rate of accurate forecasts, and the standard of knowledge they offer. In this way, HedgeTrade hopes to root out less trustworthy blueprint developers while providing consumers with an effectively verifiable mechanism that ensures accountability.
A mandatory minimum investment in HEDG tokens is not needed for the production of a blueprint. Consequently, blueprints sent without a stake would not be eligible for procurement in the HedgeTrade Blueprint Market. Nonetheless, they will help a creator's overall HedgeTrade Rating and Score.
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What is TrustSwap?
Trustswap is the next step in the progression of Decentralized Finance (DeFi) exchanges, addressing significant issues such as subscriptions, split transfers, and cross-chain token swaps.
To wrap every coin or token into an ERC20, a cross-chain method is used. Trustswap's essential service, a trust-free decentralized escrow service, makes it simple to divide transfers into timed batches.
Screenshoot from Coinmarketcap
The project makes it simple for developers to approve fees for annual subscriptions, and both parties will be sure that payments will be completed on schedule. Since token transfers are divided into tranches, this performance is crucial in the investment room. In June 2020, Trustswap held an Initial Liquidity Offering for all the SWAP tokens.
The Trust Swap's initial implementation is in the ICO and cryptocurrency investment room, where token delivery must be divided into tranches. This is done automatically by trust exchange, eliminating the requirement for attorneys and contract services to execute the transactions.
This ensures that instead of relying on costly third parties, VCs and projects will execute their transactions directly on the blockchain.
The Comparison between HEDG and SWAP
HEDG and SWAP are both predicted to soar in price in the next month. However, due to the difference between how they form contracts, I would suggest to invest on HEDG for more stabilized overcome.
The use of blueprints in HEDG would help you to form a better understanding of trading crypto. Thus, users will get a safer transaction in the HedgeTrade platform than TrustSwap.
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Hello @levycore ,
Thank you for submitting homework task 7 ! You have done a comparison between HEDG and SWAP with a fundamental analysis ! Was a good read ! [6]
Thank you
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