From the last couple of years, blockchain community has seen the launch of various ICOs and Cryptocurrency exchanges; and it reaches to its peak by Sep 2018. Creation comes with disruption, fraud, and scams, which everyone has witnessed when tons of cryptocurrencies floated in the market. Nevertheless, digital currency exchanges were also hacked due to the poor quality of development and other related ICO scams.
Credit: https://blog.selfkey.org/the-key-economy-d7fbc9efc270?gi=32682c6c544c
Various institutes were doing the R&D on decentralized cryptocurrency exchanges, and now early adopters are using it, however, it has not resolved all the issues related to scalability and scam ICO projects. It is clearly evident from the figures that liquidity is the main issue with decentralized exchange adoption. On the other hand, centralized exchanges are fast and employing market makers with rewards to create the liquidity. Although decentralized exchanges are secured, they are restricted to work with cryptos only. For example, a customers cannot exchange USD to BTC, they have to go the centralized exchange and transfer the cryptos to decentralized exchange.
Fiat/Crypto exchanges are growing exponentially, and the trading volume has also increased sharply after the launch of the first BTC/Fiat crypto exchange in 2009. With the inflow of money from the last couple of years, the market cap of BTC increased tremendously. All these results show the popularity and demand of the next generation of digital exchange, which can handle the fraud, ICO scams, volume, and protection of customer’s funds.
Numerous companies are trying hard to solve these issues and experimenting with out of box solution. With the help of Artificial Intelligence, Excolony is trying to resolve all the current issues with digital exchanges. Excolony is creating a next-generation digital exchange which will provide compatibility with all transaction bodies around the world.
The mission of Excolony is to serve the community with the help of Blockchain technology in various fields, including trading. Moreover, Excolony will be centralized exchange with added security and speed.
Innovative features of Excolony will make them different from their competitors. Underneath are the few features of Excolony:
Prediction based on AI
With the help of AI, Excolony users will receive a message about the trend of a coin, which will include the price diagram and volume chart to analyze the behavior of the coin.
Risk Management
Risk management is another innovative feature of Excolony, which will help users to identify their risk and what action to take to avoid this in future. All these events will be triggered with the help of inbuilt AI engine of Excolony.
Insurance
To protect the funds of customers, Excolony has started the creation of Security Digital Asset Fund for users (SAFU). All irregular trades will be rolled back and customers will be reimbursed with their funds and give them zero fee trading. Moreover, 10% of the profit from Excolony will be allocated SAFU to offer trade protection to all Excolony custmers.
Wide range of choice of deposit
Excolony will solve the real issue to streamline the fiat deposit process for all Excolony customers. Excolony is planning to establish the partnership with Paygates and various local vendors to resolve this issue.
Customer support is one of the critical factors of all organizations, if customer support is not equipped to handle the user ’s issues, the organization will doom in no time. Excolony’s customer's support will be able to handle the request in different languages, which is giving a significant leap as compared to other crypto exchanges.
To summarize, with the increase in demand and volume, there is a need of innovative next-generation crypto exchange which can handle various complex functions. This can only be achieved if all crypto and blockchain community work together and help each other.