THE EXCHANGE OF CHOICE
When we look at the current crypto market we see a lot of things which favour many cryto currency holders especially those who know how to trade very well. With the creation of the very first cryptocurrency which was bitcoin, blockchain has seen more than six hundred different cryptocurrency been minted and more than five thousand different product entering into blockchain that is why the total present market cap of product that exist in blockchain worth around trillions of dollars. With every new product entering into the blockchain there is competition between tokens of similar product due to the fact that what drives the price of any token or coin is demand and supply, so if we have two tokens that can access similar product the demand of one will be higher than the other at particular period of time, meaning that the price of one over the other will be high. There are times whereby people by spreading either good or bad news can influence the demand of a particular token whether the token as true value or not this again a true trader can utilize to make profit either by using the tactics of buying low and selling high or by buying tokens that he or she feels will increase in price later in future. Like how we have markets for commodities and also fiat currencies we also have a market place for cryptocurrencies and virtual asset. At this markets this is where tokens are put against each other and in particular the top cryptocurrencies which presently are bitcoin and etherum. Like how we have stock market for the trading of fiat currencies that is how we have various places called exchanges in the cryto world where a person that is interested in purchasing a token or conversion of the token he or she owns or just trading. At this exchanges this is where the true value of a token comes in because it is at this exchanges the power of demand and supply comes into place to either cause an increase or decrease in the value of a coin despite its ico price. The crypto exchanges are of two types, the first called centralized exchanges where by the exchanges create a wallet for you to deposit in it, this simply means you aren't the owner of the wallet address and simple also means that whatever happens to the exchange and the wallet you can't control simply because any token transferred into such wallet doesn't belong to you but to the exchange. If we take a good history of blockchain you would have come across different writeup about how these various exchanges aren’t safe especially when it comes to entities that have taken it as their occupation to hack through people account on several exchanges. This has once happened to me this year but the amount I lost was very negligible to what others lost simple because I decided to leave the token in the exchange wallet and not but it into buy and sell orders. Another problem with centralized exchanges is the cost of listing and also the cost of withdraw from the exchange with some taking up to 0.1 ETH for withdrawal and some taking up to 1% just for a simple transaction on their exchange. The second type of exchanges are what we call decentralized exchanges, these exchanges operate with the intrinsic value of a token to etherum meaning that it is either you are converting your token to etherum or you are buying a token using etherum. Another good thing about decentralized exchanges is that they don't hold on to your token what they simple do is for you to fuse your wallet with the exchange. Another thing is that listing on these decentralized exchange is absolutely free, but as we know there are still some challenges faced by decentralized exchanges which are lack of a true customer service, high transaction fee and efficiency.
To bring a solution to problem faced by decentralized exchanges, EXTOke have decided to create a decentralized exchange whereby traders can trade without any thing collected as transaction fee, better efficiency and 24 hrs customer care. To operate this platform, EXToke has decided to provide a token called XTO which will be used to operate EXToke smart contract.
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