The chain and cryptocurrency chain technology is new, and boasts an extremely fast growth market. The number of cryptocurrencies that are launched daily makes it imperative that there is a better organized management and transaction system than is currently available.
For a technology that is still looking for mass adoption, an easy entry and communication system will do a lot for it. The existing storage systems (wallets) for cryptocurrencies and the configuration of the exchanges currently available make it still a bit cumbersome to operate within the ecosystem.
Eliminating complexities in crypto
The limitations mentioned above do not go unnoticed within the industry, since several solutions companies are providing alternative methods that could solve the problems, depending on the peculiarities of the users.
According to Jeremy Epstein, CEO of Never Stop Marketing, one of the critical and necessary developments that will reduce the complexity of managing digital assets will involve the creation of reliable multilevel wallets.
For example, if something happens to me, how can I make sure that my loved ones have access to coins and / or digital assets? Also, what happens if someone stops me to remove my crypts? How do we make sure that a thief can not escape with the money?
Epstein explains that, apart from the cases of individual use, we have to think about corporate governance. If a company accepts the payment of a good or service in crypts, those coins must be protected, and not retained in a person's account. This is a great barrier to general adoption.
On the issue of 'crypto-crypto' and 'crypto-fiat' compatibility, Epstein points out that there are already improved systems that make it easier for users to make transactions in different communities.
He points out that this is necessary because most centralized exchanges are designed to take advantage of retail investors. He also points out that almost 90% of the businesses in these platforms are made by the "house" in order to manipulate the price so that the retail investors take advantage of it.
However, decentralized exchanges such as Bancor, for example, are already making more than US $ 10 million per day in volume. Services such as Radar Relay, built on the 0x protocol, eliminate the risk associated with open order books.
In addition, blockchain interoperability platforms, such as ARK with its SmartBridge and Encoded Coded Listeners, will help people make a relatively friction-free trade through blockchains without having the currencies of the other network.
A new industrial development
The usability of this kind of exchanges is not yet popular, nor is its speed. However, the momentum generated between them is growing in importance.
Emerging platforms such as Alttex are also creating decentralized and multi-currency trading platforms. The CEO of the company, Yevhenii Meita, explains that the fact that the platform is decentralized allows a more secure system and avoids the exchange of hackers and DDoS attacks.
"The AltExchange security system is quite reliable. For an additional level of protection, we have enabled Touch ID, Face ID and Pin-code functionality with two-factor authentication via email, "says Meita.
He concludes by explaining that the platform will allow users to securely purchase cryptocurrencies with a credit or debit card and withdraw funds with minimum commissions. All that is needed to verify identity are two selfies that show both sides of the card using a specialized AltScanner.
Everything is about the end user
When it comes to the practical implementation of cryptocurrencies and ease of application, the main subject is usually the end user. In fact, everything is fine as long as the end user is satisfied. This is an opinion shared by the co-founder and main MoxyOne developer, Tanshul Kumar.
Kumar points out that there are still some barricades in terms of end user design and process simplification. Explain to CCN that this is one of the key reasons why your organization will work on the development of a unique wallet system that will be carried out through a thorough investigation of existing portfolios and modern UX design concepts.
This indicates that it will improve the way people manage their cryptocurrencies and the ease with which they can spend them.
"MoxyOne will take care of all existing digital storage solutions and work with blockchain companies to ensure we have the safest and most functional product available to our users and our associated companies. By working together with other resources and blockchain solutions, we can strive to improve our pre-existing systems and make cryptocurrencies much safer and easier for everyone to use, "concludes Kumar.