During the wake of the world economic melt down in 2008 there have been widespread doubt of the effect and value of money, apparently what followed afterwards was an increase spread of conspiracies, theories and fears. Growing up as a young man with little knowledge on economics I had seen clearly in my country the effect of the downturn. There was loss of Jobs, increase in fare and tariffs, Inflation and whatnot such that there was a need for a new type of money completely backed by the community.
Bitcoin the first blockchain-based cryptocurrency, backed by the community of miners was created as a peer to peer payment system that allows its users to transfer value with no central authority or third party involved. Created by a Japanese Mathematics Satoshi Nakomoto in 2009. Since network of distributed and mostly anonymous miners are all in charge of processing the transactions, we are ensured that problems like censorship, fraud, and others are not possible taking off the possibility and ability of so called big banks in printing new currencies when they most pleased.
source: http://bit.ly/2PzRGGp
As the cryptocurrency evolved and the industry grows there have been a steady rise in the amount of coins, the number of cryptocurrencies available over the internet as of 19 August 2018 is over 1600 and growing. This brings us to the need of having a market where we can exchange this tokens and coin so that mass adoption and wide spread popularity is achieved.
There are two kind of exchange : Decentralized exchange (DEX) and Centralized exchange (CEX)
Centralized Exchange (CEX)
In a centralized exchange fund of users are held in a wallet before they can be exchanged, likened to a case of bank customers giving their money to the bank for safe keeping but are they really safe?
Decentralized Exchange (Dex)
A decentralized exchange is an exchange market that doesn't rely on third party to hold funds of users instead trade are done peer to peer between users with no middle man or intermediary. While some argue that centralized exchange do not depict the true position of the blockchain or bitcoin being a decentralized entity themselves and that decentralized exchange which doesn't hold funds but offer transaction by smart contracts and atomic swaps are the true exchange needed in the blockchain. Others have argues that centralized exchange help keep user funds save and if there is any case of loss of wallet keys centralized exchange have the ability to recover your passwords or keys a feature truly lacking in a decentralized exchange.
The First True Hybrid Exchange
Cryptoa is the first hybrid exchange combining the functions of both CEX and DEX , to cater for lack of trust and centralization problems in current crypto exchanges; Cryptoa will have a thin layer of KYC to maintain decorum while offer zero listing fee to reap benefits from both business models DEX & CEX also using hybrid proof system (PoW+ PoS) to enhance user-engagement and usage. The hybrid exchange will end the argument between the usage of CEX or DEX as users are giving a wide range of better options and services.
source: http://bit.ly/cryptoa
Why use Cryptoa?
I choose CRYPTOA - https://www.cryptoa.com/
