In a recent Vitalik Buterin interview at TechCruch Blockchain conference , Vitalik explains why decentralized exchanges is the key towards the rise and adoption of cryptocurrencies. The reason behind his explanation is that centralized exchanges have centralized points of failure and are more susceptible to monopolization and commercialization of the cryptocurrency economy stunting and creating barriers to entry into the market which is currently under growth and development.
The cryptocurrency market is growing and its currently worth $240 Billion as of writing this article, this growth has been attributed by the awareness of the importance of the technology behind cryptocurrency and the promise of security and decentralized form of value distribution. One of the projects with this mantra at the core of its heart, business model and operation strategy is MOONX, an exchange by us for us. Exchanges are more susceptible to challenges due to the high volume of traffic and the financial value which attracts hackers and fraudulent individuals, Decentralizing exchanges makes them more secure by elimination vulnerability such as storage of private information and reduces the commercialization in the market.
MOONX is made for the community, nicknamed MOONX FAMILY, the powers are given to the community who control the market and the operational processes of the exchange. The distribution of operational duties eliminates the requirements of trusted third parties and verification of data.
MOONX decentralized exchange.
MOONX is a decentralized exchange whose operations are managed by the community popularly known as the MOONX FAMILY. The family consists of investors, contributors and its users who are trading on the platform and the exchange will reward the family with Moon Money for their contribution towards MOONX operational and management duties.
The decentralized platform offers solutions towards decentralizing the cryptocurrency market by offering decentralized storage of records in a distributed ledger that is secure transparent and scalable. The exchange combines the use of FIAT Currency and cryptocurrencies forming a comprehensive trading engine.
Problems with Decentralized exchanges & MOONX Solutions.
We are all familiar with centralized exchanges such as bitfinex, binance and OKEx which are centralized exchanges, these exchanges are vulnerable to commercialization of their services and their operations are centralized. When using centralized exchanges users have no control of their private keys and personal details which are stored in centralized systems and funds are stored in centralized servers which are susceptible to hacking and fraudulent hacking such as the GDAX exchange.
MOONX exchangers offers a solution by putting its user's security and control first in its operations, due to the market conditions were regulations and insurance are not in full support of the market users are more secure using decentralized exchanges where their funds are safe in case of a market ban or corruption of the market.
Centralized exchanges operational models are more susceptible to unethical behaviors and integrity issues for commercial benefits, MOONX is addressing these issues by giving back the powers to the decentralized community allowing the full control of their assets allowing them to be the market makers and breakers truly achieving the goal of cryptocurrency which is to decentralize the financial economy.
Features of MoonX.
To full decentralize the market, MOONX business model incorporates several features that supports its philosophical believes. These features include the ability of its users to trade with no fees attached to their trading activities. To make it easier for cryptocurrency entry into the market the exchange doesn’t charge the fees for listing. With this operational structure the exchange is promoting cryptocurrency growth by eliminating barriers to entry into the market which is mainly due to the charges and the commercialization aspect of exchanges.
The exchange is rewarding its users with MOON MONEY the native token of the platform, the tokens will be beneficial by allowing the members to make decisions during the voting processes of listing ICOS and the management of the exchange decision making. The rewarding system will be automated and transparent thanks to the use of smart contracts to allow tapping of a decentralized community.
Security is addresses by the exchange, the platform is developed by financial experts who have worked with global stock exchanges and believe and understands the cryptocurrency market.
The exchange is also user friendly, this is addressed by the ability of its users to use fiat currencies and cryptocurrency in their trading activities.
MOONX Solutions to existing problems in cryptocurrency market.
One of the solutions MOONX offers the cryptocurrency market is the decentralization of exchanges, this is by giving back the powers of its users by allowing them have control of their assets, be the controllers of their assets and most important by the makers and breakers of the trading platform.
The exchange offers solutions to technical problems we have experienced when trading, this includes scalability problems, centralized servers break down and also the inefficiency of the platforms. MOONX has its standards set high through improved users experience and also excellent engineering in redefining the technology behind the exchange operations.
MOONX is getting rid of the high commercialized business model through elimination of trading and listing fees to truly abide by the decentralization philosophy of the cryptocurrency market.
MOONX is a user-friendly trading platform with an easy to use graphical interface, the exchange has incorporated several measures to make users experience excellent through the incorporation of FIAT and Cryptocurrency in its trading engine.
Users will be able to make use of MOONX services which include margin trading, Over the counter trading, futures, options and mutual funds among others. The comprehensive financial inclusion will offer diverse financial products on MOONX decentralized exchange.
MOONX ICO announcement.
Conclusions.
I’m a big fan of decentralized exchanges and the whole cryptocurrency community agrees that for adoption of cryptocurrencies we need solutions provided by decentralized exchanges for mass adoption. MOONX is providing solutions by eliminating the barriers to entry into the market and also offering a wide range of services through a high-tech trading engine that addresses the security, decentralization and scalability problems we are facing in the market.
To Join the MOONX family and educate yourself more on the solutions provided by the MOONX decentralized exchange, please have a look at the project's website, whitepaper and social media pages in the reference section below.
References.
Website: http://www.moon.family/
Whitepaper: http://www.moon.family/wp-content/uploads/2018/08/MoonX-WP-1_v6.pdf
ANN: https://bitcointalk.org/index.php?topic=4980100.msg44914252#msg44914252
Facebook: https://www.facebook.com/MoonX333
Twitter: https://twitter.com/MoonX555
LinkedIn: https://www.linkedin.com/company/moonx333
Telegram: https://t.me/Moon_Money
Author: jamesndungu1
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049