The new Vena protocol is based on the block chain technology, and thanks to this fact it is possible to outline the terms of agreements that will be decisive for the further cooperation of the parties. These provisions concern a wide variety of financial operations, from loans to transactions.
The presented protocol will allow to build a completely new type of DApps. They will focus on interactive financing and the production of new products, the most obvious of which is a trading contract.
Features of Decentralized Network
The decentralized nature of the platform will allow the network participants to cooperate directly with each other, leaving other possible intermediaries out. It is expected that this approach will speed up the process of exchanging digital assets and make it more popular among cryptocurrency owners.
The internal protocol is subdivided into two levels. The first is a kind of initial stage. It performs the registration procedure, the setting of parameters, the final routing, and the management of basic financial transactions.
As for the second level, it looks more serious. This is where financial transactions are completed with the companies that the client chooses, thanks to the creation of conditions for the execution of the transactions specified in the contract interfaces.
The ecosystem of the presented platform operates on the basis of P2P interaction between the participants. All procedures are held via a chain of blocks, which guarantees their transparency and high speed.
Intellectual codes serves as an additional protection; a person cannot influence them, and it also prevents frauds.
Platform Advantages for Users
Ordinary users will get obvious benefits from the operation of such a platform. First of all, it will be possible to:
- Make financial exchange more efficient from an economic point of view. You will no longer need to pay huge fees or other costs that often hampered the development of entire industries.
- Reduce the risks associated with such operations. Primarily, cryptocurrencies imply transparent transactions and honest approach. This is what contributes to the development of the market at rapid rates. Thanks to the presented protocol you will always be aware of the current status of a transaction.
- Minimize costs of price fluctuations, as well as conduct transactions without unnecessary financial intermediaries.
There are two roles established within the platform: appraiser and relay. Here, you can conduct operations even if only one of the parties is present. The appraiser calculates the probability of risks that the transaction held. The success of a contract largely depends on their ability to predict all the possible costs.
As for the relay, they are responsible for speeding up of the transactions. Thus, several market players at once receive clear signals for further action, which also has a positive effect on the development and distribution of cryptocurrencies as a whole.
Prospects of New Platform
Mixed technology, which is used within the Vena Network, allows to achieve the perfect balance between the effectiveness of transactions and their security. Thanks to this approach, it will be possible to attract even more investors to the cryptocurrency market in the near future.
Providing of accurate data makes it easy even for beginners to integrate themselves into the system and minimize the risks of financial losses. Vena Network is a non-profit organization, its profit is based only on the provision of relevant information. Visit site: http://vena.network/en.
Thanks to this approach, the level of trust to the cryptocurrency system becomes much higher. Given its instability at this stage, this is an important signal for potential investors, who now understand that they can invest into this industry safely.
The cryptocurrency market is developing dynamically, so you can benefit from conducting transactions right now, and the latest information from the professionals will help to minimize risks and make work profitable from the very first day.
For more information about project visit:
Website Vena Network: http://vena.network/en
Whitepaper: http://whitepaper-en.vena.network/