EDC: A SURE ROUTE TO SAFER AND FASTER CRYPTO TRADING EXPERIENCE

aaaagoody (25)in #trading • 6 years ago

Transactions involving monetary systems are greatly affected by how secured and fast the monetary system/channel/ institution is. When one is involved with monetary transactions, the pace at which that transaction is being executed is very critical to the person or people involved in the said transaction. A delayed monetary transaction leaves so much to be desired because any delayed financial transaction can cause serious damages including financial loss and emotional disturbance to its victims. Financial transactions and insecurity are supposed to be two parallel things without any convergence of whatsoever manner. It takes a whole lot of ignorance and maybe insanity of the mind for one to consciously dabble into any unsecured financial procedure because the end result is usually calamitous. Unsecured financial transactions have caused untold hardship and great pain to its victims including rendering some establishments comatose and causing many establishments to lose their reputations.

The blockchain technology is a serious advocate of secured transactions and it’s equally at the forefront of transparency, trust and decentralization in the handling of activities. However, how can one reconcile the fact that some operations carried out over the blockchain is a safe haven for unsecured activities and equally confronted with delayed processes.

Crypto Exchanges and Insecurity
Crypto exchanges provide similar exchange services with fiat based exchanges, the difference is majorly based on the fact that fiat exchange activities take place in a brick and mortar physical structure while crypto exchanges are done virtually over the internet using digital devices. Presently, the majority of the crypto exchanges are centralized in their operations, therefore, posing a huge security threat to traders.

These centralized crypto exchanges encourage traders to transfer their cryptocurrencies to their (the centralized exchange) wallets before the traders' order are executed. This scenario is not healthy at all because if the wallets of the centralized exchange are tampered with, the outcome might be calamitous for traders trading on that exchange.

EDC CRYPTO DECENTRALIZED EXCHANGE AS A REMEDY

Everything about blockchain should really reflect on the decentralization philosophy of the blockchain network. To this end, the EDC platform presents a decentralized crypto exchange platform where no centralized institution is required to facilitate traders' orders, rather crypto traders trade their assets in a peer-to-peer manner cutting off the activities of these centralized third-party folks.

The EDC decentralized exchange provides the traders with the golden opportunity to take full charge and control of their assets while trading, no more transferring of assets to a centralized wallet for one's trading order to be executed. Instead of traders transferring their assets to a third party wallet before their order can be executed as obtained in centralized exchanges, the EDC decentralized exchange applies the use of smart contracts; customers assets are transferred to this self-executing automated contract – smart contract. These smart contracts help to facilitate and execute the trading process depending on whether the conditions required for the smart contract to execute are all met.

With the EDC decentralized exchange, transactions are handled optimally and at large scale, this is because the EDC underlying blockchain protocol which is the BitShares 2.0 Graphene is widely known to process incredible amount of transactions in a very short period, it’s proven that this blockchain protocol can handle up to 100, 000 transactions per second. Therefore exchange activities on the EDC decentralized exchange will greatly benefit from the quick and fast transaction capacity of the BitShares 2.0 Graphene.

Furthermore, with the decentralized features of the EDC exchange, its users ain’t subject to any laws of any centralized body, hence crypto traders using this exchange to trade their assets can carry out their trades comfortably from any location without the fear of being hounded by authorities that are not friendly with the activities of cryptocurrencies.