Cryptocurrency keeps gaining world wide adoption and good amount of recognition, more studies are being made on it, more experts are getting into the field creating great cryptocurrency and blockchain related tools that would help move the crypto space to greater heights and these tools has indeed added to the cryptocurrency adoption.
One of these "tools" that added to the crypto recognition is the cryptocurrency exchange platform. An exchange is a platform mostly in form of web, where crypto holders come to buy, sell and swap their digital assets. These crypto holders when they become verified after making the necessary registrations on an exchange site becomes traders and they can sell their digital assets either for fiat money or for another cryptocurrency and they can also buy a cryptocurrency either with fiat money or with another cryptocurrency in their wallet.
However, there are millions of cryptocurrencies scattered throughout the crypto space thus plenty of exchange platforms are created to keep trading these digital assets and strengthen their market liquidity, but even with the vast amount of digital exchange platforms, they can only be grouped into two major types of exchanges; Centralized and Decentralized exchange.
Centralized exchanges constitutes more of all the exchanges in the crypto world while decentralized exchanges are really few, although decentralized exchanges possess more qualities to centralized exchange.
I will only be writing about decentralized exchanges here, because it is what FINATCH is all about.
Decentralized Exchanges are any kind of exchange that it's services are ran automatically and not by a single "body" as in centralized exchanges.
Advantages of Decentralized exchange.
- Low transaction fees
- Heightened security, as users can store their digital assets in an offline cold storage device.
- No Need to send or transfer money to the admin of the exchange platform unlike centralized exchange.
- Fully supports hardware wallets.
- Fast trading of Crypto’s possible
- Easy to use.
The advantages outlined above is what makes decentralized exchanges unique and also what makes it different from centralized exchange, but as it may be there are very few decentralized exchanges around and even the ones available still have some issues that's making people not to see the positive side of a decentralized system. The main problem of decentralized exchanges is that it's never worked on to be enhanced, these problems are never tackled instead developers keep creating same old stuff and the problems keep going but these problems can be completely eradicated by implementing on the solutions presented by Finatch Inc.
Finatch Inc. presents the best solutions for the problems plaguing decentralized exchanges and if these solutions are properly implemented, everyone will enjoy a true decentralized trading experience. Finatch Inc. owns and manages Finatch exchange-the ultimate solution.
Finatch exchange is a decentralized cryptocurrency exchange which is run and powered by the Finatch FRC smart contract blockchain.
The problems of common decentralized exchanges and how Finatch solves them;
Poor Technical Design: Most of these exchanges set up by so-called experts tend to do well at the beginning but starts to fail over time, because they always go through the easy way of setting up the exchange and as traffic grows, the system will no longer be capable of handling the increased load.
Finatch Solution: The team behind Finatch has years of extensive crypto and blockchain experience and understands that in building a financial based system it needs to start from scratch no matter how slow the process may be. Finatch team engineered Finatch exchange from ground with speed, scalability and security in mind although the process takes time but Finatch team aims to create a powerful, unique decentralized exchange service.
Poor Customer Service: To successfully run an exchange it is necessary to understand traders mentality therefore build the exchange to how it will favor everyone, but these current decentralized exchange fail to adhere to that and just create the exchange on how they want it to be, thus resulting in poor customer service.
Finatch Solution: Finatch exchange is built with service in mind and also shares and supports responsibilities across the entire company and staff so that whenever a trader has a problem it is well solved by someone who knows the system well.
Slow Smart Contract Confirmation Time: Due to poorly built block, deployment of smart contract takes time causing inconvenience resulting in bad user experience in decentralized exchange.
Finatch Solution: Team Finatch created a new high-tech blockchain which will be integrated into Finatch exchange, this blockchain is capable of speeding up transaction time for smart contract resulting in a user friendly and smooth platform for traders.
Poor Language Support: Most decentralized exchange built in a particular place focuses only on serving to the needs of that same place, they won't provide multi language option so that people from other countries can make use of it.
Finatch Solution: Finatch believes that the blockchain technology has no borders and so eradicates this issue by providing multi lingual services by employing staffs from all over continent who have extensive knowledge of the crypto market thereby providing smooth support to the global world.
Finatch exchange is a versatile decentralized trading exchange platform equipped with various sub-platform, trading tools and secure decentralized wallet.
The sub-platform is created in respect to user trading skills and can choose the one that matches up with their skill, this sub-platform are;
Binary platform: Fin vault platform, Finbox platform.
Finatch exchange is also capable of executing 1.5 million transaction per second making it the best top performance exchange in todays' market and the exchange will also support trading pairs such as; BTC, ETH, LTC, BCH and FIN (Finatch coin) and more coins will be added over time.
For more information, visit the links below;
Website: https://finatch.com/
Telegram: https://t.me/finatch
Twitter: https://twitter.com/FinatchInc
Whitepaper: https://finatch.com/docs/Finatch%20Whitepaper.pdf
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