INTRODUCTION
Exchanges are a central part of the crypto ecosystem as we have it today, and play a critical part in enabling users carry out transactions quickly.
However, these exchanges are centralised, and do not foster peer to peer exchange, because these Centralised Exhanges (CEXs) act as middle men, hampering the growth of decentralisation.
With the advantages of transaction speeds, liquidity and easy conversion from fiat and vice versa, a major disadvantage these have is security.
Centralised Exchanges are much more prone to hacks, and we have seen countless cases of this happening.
Operating as a decentralised exchange ensures this feature is in place. Generally speaking, I wouldn’t complain about sacrificing a little bit, if I was given the option of more security for my funds.
This means that data stored on Blockchain.io(BCIO) is very secure, as the computational power needed to hack it via brute-force isn’t readily available. In other words, for a group of people to take control, they need to take control of 50.1% of the networks mining hash rate, to be successful.
BLOCKCHAIN.IO: A NEW DAWN PERHAPS?
Blockchain.io’s(BCIO) project is looking to stake a huge claim in ensuring the safety of users funds, with a focus primarily on the European market (Europe accounts for just 7% of fiat to bitcoin exchanges, on the global stage).
On Decentralised Exchanges (DEX), users are able to carry out peer-to-peer transactions, ensuring that they get more value from transactions, and they do not have to be hassled by multiple transaction fees. It enables these users to be fully in control of their funds and transactions.
Transactions can be carried out within the ecosystem via automated processes, thanks to smart contracts and atomic swaps, using Hashed TimeLock Contracts (HTLC’s).
WHAT BLOCKCHAIN(BCIO) IS LOOKING TO FIX
- Outages. (Loss of service, during periods of high volatility. Services being shutdown for hours, leading to losses)
- Lack of transparency (High risk, uncertainty, and lack of communication from them)
- Lack of security (Countless hacks have been carried out on centralised exchanges, till date)
- Non-compliance (Compliance to national and international laws, leading to loss of funds for users)
WHAT BLOCKCHAIN.IO(BCIO) IS OFFERING
- Transparency
- Highest form of Security
- Reliability
- Accountability Standards.
INTERESTING FACTS ABOUT BLOCKCHAIN(BCIO) - They have gotten SEC approval.
- Are not faceless, and have a strong team of battle hardened professionals.
- Cold wallets keys are split and held in a number of different vaults in multiple locations
- A huge chunk of cryptocurrencies (98%) are held offline in cold storages.
- Access to cold wallets require multiple signatures.
- Employs the use of cryptographic proof of reserve.
- Downtime is minimal, and its usually to effect maintenance and carryout upgrades.
- Will have ICO support and token listing services.
- Peer-to-Peer lending will be supported.
- Proprietary lending to users will be supported.
- Short and Long margin trading.
BCIO will have Web, Mobile (android, iOS and HTML5) and Desktop Applications (Linux, Mac OSX, Windows) support, ensuring that user have flexibility and multiple channels of accessing the platform.
Consulting (ICO Services)
Blockchain.io(BCIO) will give entrepreneurs looking to have ICO’s the option of working with them on their projects, from the planning stage all through to execution. The major advantage for entrepreneurs is that they will get to work with very experienced legal, marketing and finance professionals, along the journey.
Blockchain.io(BCIO) will take a percentage of funds raised, as its charges.
Another way Blockchain.io(BCIO) seeks to raise funds, is by charging companies for their tokens to be listed on the exchange.
SUMMARY
Blockchain.io(BCIO)’s is taking a bold move, and even though DEX’s aren’t mainstream yet within they cryptosphere, they are indeed catching on, and are the way forward, with regards to exchanges.
Critics point out to the lack of security as a major flaw of cryptocurrencies, but DEX’s such as Blockchain.io(BCIO) will ensure that the negatives are gradually stripped off, and we will be a step closer to mainstream acceptance of cryptocurrencies.
It’s also a solution focused on the people, and ensures that users get as close to the true value of their cryptos as possible.
Add-on services ensures that Blockchain.io(BCIO) can also keep the ecosystem self-sustain and also importantly, offer more value to its user base.
The less technical and experienced will get the opportunity to offer real solutions and value to the world.
As long as Blockchain.io(BCIO) keep to their word, remain open and do not take its userbase for granted, this project might just be one of the great ones. At the worst, it will still be a true solution, fulfilling a real need. It’s only a matter of time before we see more DEX’s , decline of CEX’s, and perhaps, its natural death.
NOTES
Blockchain.io's crowdsale is currently on, and it is scheduled to end on October 25 2018, 6:00 AM UTC. The beta version for the exchange is set to be released very soon, and its official exchange will be live in November 2018.
Tokens sold will be unlocked December 2018.
All unsold tokens will be burned at the conclusion of the crowdsale
Users that are interested in contributing more than 100 Euros within the crowdsale can use this referral code to get a 5% bonus. emwinVWrVCzugXiWVP3z.
To participate in the crowdsale, use this link. Crowdsale Page
PARTNERS
Blockchain.io(BCIO) Website
BCIO on Medium
BCIO on Twitter
BCIO on Telegram
BCIO on Facebook