AXNET project review
According to Wikipedia "cryptocurrency is a digital asset that is designed to work as a medium of exchange and also use strong cryptography key to secure financial transactions and verify the transfer of assets". During the early years of creation, cryptocurrencies worked merely as a change of monetary value, but as the technology evolved more and more its function became more advanced and it's being utilized on different platforms to solve different forms of problems encountered in our daily lives.
The upsurge in the Blockchain technology has led to the existence of thousands of cryptocurrencies presently available in the crypto space. And has cryptocurrency journeys towards more adoption globally, the responsibilities of exchanges at providing the necessary avenue for users to trade different cryptocurrencies cannot be overemphasized
There are presently over hundred crypto exchanges (both centralized and decentralized exchanges) providing exchange services for crypto users globally. But despite the number of exchanges available, none has been able to completely tackle the problems users encounter while trading.
Introducing AXNET; the Complete Cryptocurrency Exchange
AXNET (Asset Exchange Network) is a decentralized platform that seeks to disrupt the present cryptocurrency trading markets by providing the much needed solution to the challenges encountered in the market. AXNET is a complete cryptocurrency exchange that possesses the features of both centralized and decentralized exchanges with additional features to provide users with an amazing trading experience. It creates an avenue where traders can securely trade different types of cryptocurrency for other cryptocurrency or fiat without being worried about liquidity.
Challenges encountered in existing crypto exchanges
Security: The issue of security is a very apparent problem with most exchanges in the crypto space as most of them are prone to hacks. This year alone, more than four top exchanges have been hacked with crypto asset worth hundreds of millions of dollars being stolen by hackers. Users do not have almost trust in the existing exchanges, because most of them are not secured.
Low market liquidity: Liquidity is another issue pressing in the current crypto exchanges, as traders (especially high volume traders) have a hard time liquidating their crypto assets on exchanges. Users have to pay higher fees in form of transaction fee due to the aggregation of liquidity with other exchanges.
Absence of fiat channel: In order for cryptocurrency to get mass adopted worldwide, there as to be an easy conversion channel from fiat to crypto or vice versa. Instant conversion of crypto to fiat is a major challenge for traders, because most exchanges lack the portal for fiat withdrawal or deposit. Therefore traders have to first convert their crypto asset to other crypto before they can withdraw to their native currency.
Poor customer service
Technical architecture
The Innovative AXNET Solution
Solution to Security: AXNET is completely abreast of the present security challenges most exchange, and it's seeks to tackle the issue by building the platform on a PCI complaint standard and subjecting it to series of penetration test which makes it extremely secured. And also, the Axnet operation team has a track record of building financial system to top notch security standard, which makes users to be rest assured of the security of their crypto asset.
Solution to low market Liquidity: Liquidity is another obvious issue with most exchanges and Axnet will solve this problem by providing traders with strong liquidity. Axnet will be able to do so through their previous records with exchanges and traders. Users will no longer have to fulfill their orders at different prices on multiple exchanges.
Solution to Absence of fiat channel: In the bid to solve fiat channel issues, Axnet will service it's users with fiat bases like USD, EUR, GBP, JPY at the early stages with the possibility of other fiat base being introduced later.
Solution to poor customer service: The present customer support system in most exchange is just a glorified copy and paste system. Most customer exchanges have automated response which they send to users without actually reading their complaints, which leaves most users unsatisfied.
Axnet prioritize the satisfaction of its users by providing a 24/7 support system that is very active and guarantees a 1day turn around on all support ticker.
- Axnet has other amazing features like
- Centralized exchange
- Decentralized exchange
- EOS Decentralized exchange
- Axnet labs
All these features are well explained in details in the whitepaper, which you can consult here >>> Whitepaper
Strength
Strength is the positive feature of a project that gives it an edge over other projects
The main strength of Axnet can be considered to be its amazing centralized and decentralized exchange features. Unlike most exchanges that tend to chose between the access to more tradable currencies of centralized exchanges or the absolute control of funds offered by decentralized exchanges, Axnet combines the features of both to build its platform, which makes it both a centralized and decentralized exchange. With Axnet, traders do not have to forfeit the benefit of a particular exchange niche to use the other niche, but can enjoy both in a single exchange.
Conclusion
AXNET is an innovative and revolutionary platform in the crypto space, as it will make crypto trading easier and more convenient for both newbie and veterans in the market.
Official Contacts
Website: https://ax.net/
Telegram: https://t.me/AXNET
Whitepaper: https://ax.net/docs/AXNETWhitepaper.pdf
Facebook: https://facebook.com/AXNETExchange
Twitter: https://twitter.com/AX_NET
My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1633818
BountyOX username: Pelumi20
Disclaimer: This content is my personal opinion on this project and should not be taken as an investment advice. I will not be liable for any gain or lose that may occur from using this content for investment purpose.