AXNET
Project Introduction
AXNET is the acronym for Asset Exchange Network. AXNET is a Licensed, hybrid cryptocurrency exchange, with both centralized and decentralized infrastructure for the trading of cryptocurrencies to fiat. This is a highly secure platform, with its AXN tokens built on the ethereum ERC 20 blockchain. AXNET has been created to tackle several issues that cryptocurrency traders face, like liquidity security and many more.
The blockchain technology is the infrastructure at the core of the decentralized age. And since the invention of bitcoin along with the first blockchain in 2008, there has been a boom in the decentralized/cryptocurrency space. There are presently thousands of cryptocurrencies, serving as a means of exchange of value, transactions and reward purposes for the thousands of platforms they represent.
The year 2018 witnessed the highest total market capitalization of cryptocurrencies ever, with its volume rising to over 750 billion dollars in Q1 2018. Although the total market cap is around the 200 billion dollars cap right now, due to a year-long bear market which was subject to different factors, this has not stopped decentralized innovations.
Cryptocurrency Exchanges
Cryptocurrency exchanges are platforms or infrastructures that cryptocurrency investors and traders use in the conversion between different crypto assets or to liquefy their crypto holdings into fiat. Exchanges are a major part of the crypto market with its daily volume reaching over $5 billion presently.
Existing Problems
The cryptocurrency market is a large industry, already with millions of people all over the world adopting the technology. However, there are some existing challenges that cryptocurrency traders are posed with on exchanges.
- Security
- Liquidity
- Technical Architecture
- No Fiat Support
- No Customer Support
The Innovative AXNET Solution
Axnet Solution To Security: This year alone a lot of exchanges including at least 5 top exchanges have fallen victims of hackers, who have made away with hundreds of millions worth of cryptocurrencies.
According to the Axnet project whitepaper, Axnet is going to tackle this security problem by building a platform that is "PCI compliant" and by a team that is highly experienced with financial systems. This will bring the highest technical know-how to a sector that is previously dominated by novices.
Axnet Solution To Liquidity: Liquidity is one of the biggest problems traders are posed with on exchanges. Trading volumes of crypto assets on some exchanges are sometimes so small that a trader who aims to buy or sell in high volume will either have to make use of multiple exchanges while paying varying withdrawal and trading fees or trade with very high price slippages. Either way, traders lose money.
Axnet through its previous relationships will be able to make partnerships with institutional investors, and large traders which will provide deep order books and strong liquidity of which will be if utmost benefits to the traders and thus solve their existing problems of liquidity.
All the other problems stated above and their solutions have been well explained in the AXNET project whitepaper, read it to learn more about the Axnet project.
Conclusion
This is a well-thought platform that combines the functionality and security of both the centralized and decentralized exchanges with some innovative features in order to provide cryptocurrency traders with the best trading experience.
Official Contacts
Website: https://ax.net/
Whitepaper: https://ax.net/docs/AXNETWhitepaper.pdf
Twitter: https://twitter.com/AX_NET
Facebook: https://facebook.com/AXNETExchange
Github: https://github.com/AX-NET
Reddit: https://axnet.reddit.com
Telegram: https://t.me/AXNET
Medium: https://medium.com/AXNET
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Disclaimer: Kindly take note that the contents of this written piece about AXNET is not an investment advice and should in no way be used for that purpose.
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