Ever since the discovery of the cryptocurrency which includes: Bitcoin, Ethereum etc which was designed on the blockchain technology system, there has been a huge move to make cryptocurrency a norm in the society in terms of transaction as well as employing rigid and top notch security protocol through the use of the blockchain technology system's smart contracts. But however, there has been a lot of hindrances to actually actualise this plans.
Making cryptocurrency a generally accepted financial asset and also pulling in more investors into the sector, certain issues needs to be address inorder to ensure full scalability of the sector. The issues that needs to be addressed includes;
i. Lack of trust which exists in the system atop the blockchain technology system.
ii. Lack of sophistication in terms of instruments as well as equipments which usually is a factor that prudent investors consider.
iii. Also the lack of risk management as well as transparency which lacks in the system is another factor to look out for amongst others.
But nevertheless there is room for panic for potential crypto investors because, the VELIC platform's main ideology is to harness ways or means to address these issues.
OVERVIEW OF VELIC PLATFORM
Velic platform is a platform which is a security focused as well as crypto finance based platform which will allow for the creation of a wide range of advanced products as well as services that are crypto-financially based. The basic goal of the platform is to provide or make available acess for institution and professional crypto enthusiasts to a platform with effective and efficient crypto finance tools and thus making up for the times they have been poorly served by the industry. Also, top notch security as well as user friendly platform with paramount development goals as well as long term platform participation coupled with sustainability will be ensured upon the platform by ensuring tokenised incentives to its members at launch, scale up as well as growth stages.
The velic platform promises to offer a platform which will be the best crypto asset exchange that will serve the purpose of a gateway to countless number of financial services.
PROBLEMS OF THE CURRENT TRADITIONAL CRYPTO FINANCE PROBLEM AND SOLUTION OFFERED BY VELIC.
PROBLEM: HACKING
This problem is grouped under the security issues facing the current traditional crypto finance system the basis of this problem is that even though that blockchain over the years have been taken to be a platform with formidable security measures through its application of smart contracts, but however certain services as well as applications that exists on the blockchain technology system are not that secured as blockchain itself and as such they are prone to cyber attack as well as human errors.RISK MANAGEMENT: This is also another problem under the security category and its basis dwells on the level of immaturity displayed by traditional crypto finance industry which this leads to or cause many products as well as services to loss guard of putting or better still laying down concrete risk tolerance tools for prudent investors. It includes: lack of transparency, unfulfilled promises, hype etc.
LACK OF SOPHISTICATED PRODUCTS: this a problem categorised under the user experience and product offering the basis dwells on the fact that although numerous or various crypto asset trading platforms exists today they however lack that uniqueness as well as sophistication in terms of products and services they offer which investors look out for. They need products that will quench their thirst in areas like: required return, risk appetite and exposure as well.
SOLUTIONS PROPOSED BY VELIC PLATFORM.
As earlier said, the velic platform is out to say No to all the problems or hindrances been faced by the traditional crypto finance industry and in return create a user friendly as well as formidable platform for its users. The platform aims to tackle the issue of security by employing its "secret sharding protocol" which is aimed at providing any volume of assets lost on the platform from either loss or theft as far as the asset is stores in the velic ecosystem.
To address the issue of risk management, the platform will employ an asset management product that will be geared towards delivering a certain level of sophistication as well as customisation which believable is not present in the industry currently.
THE VELIC PLATFORM TOKEN: The platform will feature three basic tokens which all have a role to play on the velic platform. The tokens are:
I. THE VELT OR VELIC TOKEN: Velt token is the major token which drives the velic ecosystem and can be mined through platform participation. It can also be acquired through buying or selling any coin that is accepted on the exchange platform of velic which also has a total supply of 15,000,000,000
II. VELA OR VELIC AUTHORITY: Each of the vela token is set at a conversion rate or ratio of 1:1 and is primarily used for long term storage and also holders who choose to do so are rewarded in the form of deduction in the trading fee they are suppose to pay on the exchange platform.
III. VELD OR VELIC DOLLAR; This is the last of the tokens and it is the velic stablecoin which is basically not pegged to any of the previously mentioned tokens. It will be use for payments in the nearest future and serves majorly as the constant store of value.
TO KNOW MORE ABOUT THE CAT.EXCHANGE PLATFORM
Join the Telegram Group: https://t.me/velicfinancial
Follow on Facebook: https://www.facebook.com/velicfinancial
Follow on Twitter: https://twitter.com/velicfinancial
Website: https://www.velic.io/
Whitepaper: https://www.velic.io/web/download/VELIC_White%20paper_V1.01.pdf
Writer's Bitcointalk Username: Musekay
Writer's Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2070957