Technological advancements and revolutions have done the world's economy a lot of good, though it's innovative and creative inventions. One major area of the economy that has been greatly affected by internet inventions is a trade, and this it was able to achieve with the invention of the blockchain technology ecosystem. Our focus today is on the BZX protocol that has aided exchange trade in no small way, this system of trading makes available a convenient and secure lending mechanism and also cheaper trading with more liquidity. The bZx protocol makes it possible for a decentralized margin trading to occur, and there is no limit to it's working margin. Asides that, it blends well with already existing wallets, making it possible to turn Ethereum wallets into a none Bank account that is by nature decentralized and thus pays it's users for holding it. The decentralized exchanges need a functional system, such as the margin lending and house clearing, and this the bZx protocol makes obtainable by using trustless smart contracts.
HOW BZX OPERATES
Long positions: having to take a long position includes a very seamless exchange of one major asset for another. Instances are, its possible for a crypto trader to exchange DAI for ETH since the trader is convinced that the Ethereum coin will do better in appreciating value than the DAI coin.
Short positions: this aspect is quite difficult to comprehend and more complicated. To take a short position means that the trader is believing that the price of a particular crypto coin will depreciate over time. The short positions require what we call the escrow, margin calls, and leverage.
Leveraged positions: the leveraged and the short positions make use of like mechanisms, the slight difference is that with the leverage position the trader can achieve more than he or she has by borrowing.
WHAT YOU STAND TO GAIN FROM BZX
- minimal risk: it doesn't matter the activity that one is involved in, whether you are the lender or the borrower, you remain in charge of your keys, and there's no fear of the exchanges getting hacked or the fund been stolen, as there is absolute security.
- the income is passive: with the bZx protocol, you can make money with already acquired assets in your wallet and you don't have to give up your control. The rates of interests on the margin loans are very high than the traditional loans and they are much secured.
- low fees: the traders under the centralized system of exchange had to pay higher interest rates so that lenders are adequately compensated in the event of the exchange been hacked by online hackers. But under the decentralized platform, the traders pay low o no fees as the lenders had no fear of the exchanges been hacked.
BZX BZRX TOKEN ICO DETAILS
Ticker: BZX
Token type: ERC20
ICO token price : 1 BZX = 0.0730 USD
Fundraising goal : 36,500,000 USD
Sold on presale: 7,300,000 USD
Available for token sale: 50%
CONCLUSION
There has been lots of speculation going on about the crypto markets, thus making it possible for people to gain access to various information regarding cryptocurrency trading. The news one gets to hear goes a long way to determine the perception one will have about the crypto markets. But the truth of the matter is that, from whichever angle one chooses to look at it, the cryptocurrency trading platform is the next best thing when it comes to finding a lucrative business to invest in, its prospects are awesome. To make it even more interesting, the BZX protocol has introduced a mechanism that makes it possible for crypto exchanges to be seamless done, and both parties adequately gaining from their investments in cryptocurrencies.
To learn more about this revolutionary project, check the links below:
Website: https://b0x.network
Mainnet DAPP: https://portal.bzx.network/
Whitepaper: https://b0x.network/pdfs/bZx_white_paper.pdf
Medium: https://medium.com/@b0xNet
Twitter: https://twitter.com/b0xNet
Telegram: https://t.me/b0xNet
writer details
Bounty0x Username: bl3zzy