Blockport is a new project with a crowdsale ICO coming out on Febuary 1st. They plan to create a social trading platform that is a hybrid of both a decentralized and centralized exchange. Essentially you keep your own private keys and store your own crypto but the trade processing gets done by a 3rd party in order to ensure smooth and fast transactions. Users will also be able to sell their portfolio for others to copy or follow and in order to do so they will have to pay in Blockport Token(BPT).
Published 2 days ago on January 12, 2018
By Alex Moskov
Hybrid-decentralized exchange
Blockport takes features from centralized and decentralized exchanges to provide the first and only social-based hybrid-decentralized exchange.
Social trading
On the Blockport platform, you can follow and directly copy the trading portfolios of other investors. This is advantageous for beginner investors who may be overwhelmed by the seemingly infinite number of coins to choose from.
The Verdict
Blockport is working to solve a big problem in cryptocurrency investing – initial friction. This initial friction is generally caused by confusing interfaces and lack of general knowledge about the industry.
Blockport solves this first issue by designing a sleek and intuitive exchange interface. Investors of all skill levels should be happy with their trading experience.
The second problem is solved through social trading. Giving new investors the ability to follow and copy the trading strategies of pros empowers them to actively invest even while they’re still learning.
The BPT token has value as a medium of exchange for discounted trading fees, trade portfolio copying, and premium features.
Disposition
That gives us a +6.5 out of 10 for Blockport – pretty good. The biggest risk involved with this ICO is the stage that the company is at. Without a working product and established user base, it’s hard to tell how successful they’ll be.
Fortunately, Blockport has formed strong partnerships and has seen success (albeit in a limited fashion) so far. If the team continues to hit milestones and deliver on what they’ve promised, Blockport could be a serious competitor to Coinbase.
As always, you should do your own research and read their whitepaper before making any investment decisions.
I really like this concept. Decentralized exchanges are becoming more and more common but many of these exchanges don't have as many users or as much trade volume as the centralized ones. My theory is that this is because decentralized exchanges are often glitchy and have no support to talk to if you are having issues. This hybridized exchange that has the best of both worlds will be the first of its kind and will help to bridge the gap between centralized and decentralized exchanges.