AXNET; THE LICENSED FIAT CRYPTOCURRENCY EXCHANGE SERVICE

donrep (36)in #nigeria • 6 years ago

The Bloomberg News in the first quarter of 2018 reported the largest cryptocurrency exchanges according to trading volume and estimated data gathered by CoinMarketCap. Statista also gave similar reports after its findings from a survey done to discover problems facing cryptocurrency exchange platforms. Both surveys reported Binance Houbi and Okex as the best three cryptocurrency exchanges in that order. Other information included in the reports bothered around problems and expectations of cryptocurrency traders as they interact with various exchanges.

The most pertinent of all issues were security and exorbitant service fees. Most of these exchanges are centralized and owned by private individuals with little or no information about their identities or locations. Many of them have very little experience in coordinating communities where buying and selling of digital assets take place.

Oftentimes, the exchanges start fine. But as traffic increases, the system faces difficulty in handling large volume of activities resulting in instability, downtimes, and sometimes compete collapse of the whole system.

For an exchange to function on a long term basis, it must be designed to give room for sufficient security, speed, efficiency and scalability. The AXNET group has a track record of building sustainable and coherent state of the art financial hubs that service the economy in no small measure.

The AXNET group has leveraged on its experience in the world of finance to painstakingly create a cryptocurrency exchange on a foundation of speed, security, scalability and efficiency.

Today, traders and investors alike find it difficult to exit the cryptocurrency markets when prices are most profitable. This is as a result of a deficiency of adequate liquidity. There are exchanges that have been under attacks by hackers who succeeded in carting away with millions of dollars. A recent example is Bithumb exchange which was hacked on the 19th of June, 2018. It was estimated that hackers disappeared with a whooping sum of USD $32 million. AXNET has built a trading platform with high security measures put in place and a penetration testing conducted to guarantee safety.

The customers of every trading platform are it's traders, hence, understanding the traders and their needs is very key for the continuity and perpetual existence of an exchange. Traders complaints and questions must be treated with every sense of seriousness. AXNET is designed to optimally serve its users and provide solutions and and answers to customers' problems.

Most exchanges do not provide a feature that allows users to seamlessly use fiat in carrying out trading activities. This is a necessity for traders today, as it will provide more ease and convenience in the crypto space. AXNET has a license to provide Cryptocurrency Fiat Exchange Service for its customers in fiat currencies such as USD, GBP and EUR with plans underway to integrate more fiat currencies into the system.

A decentralized exchange gives gives the user absolute control over their funds unlike the centralized exchange where the user hands over their funds to the trading platform for executing orders. AXNET has been designed with an interface to allow users enjoy any of the two experiences on one platform, traders can easily switch to any of the features through a special button made for that purpose.

AXNET utilizes an accelerated hardware and efficient memory that can sustain 2 million orders per second and process 1 million orders per second. This is phenomenal and will guarantee speedy execution of orders without delay, giving the exchange platform an edge over what is obtainable in the market today.

AXNET also adopts a multiple security encryption level to raise security encryption level and make sure there is no security breach in the wallets and financial operations. This will bring in more integrity and boost user confidence in the system, which is very essential in maintaining a healthy status for an exchange.

The AXNET (AXN) token is an ERC20 standard token built on the Ethereum blockchain. The total token supply is pegged at 1 billion AXN tokens. An ICO will run from August 1, 2018 to September 1, 2018. The acceptable cryptocurrencies are BTC, ETH, ETC, LTC, ADA, XLM, EOS, ETC, ZEC and XMR. The ICO will be run in three phases, with the first phase issuing 10% to the public. The second phase will have 20% out of which company investors will receive 10%. 10% remainder will be locked up for AXNET operations. The rest of the 70% of tokens will be issued out over trade mining.