Ever since the invention of cryptocurrency, the market has really grown tremendously in 2017, topping out at nearly $180 billion in total market cap this summer. The growth has made many supporters from different field of loop professions and businesses around the world to embrace blockchain technology hence made industries to begin creating investable new digital asset and many exchanges entering the field day by day. As investors and speculators have become increasingly interested in the area of cryptocurrencies, hackers and criminals has also increased.
A cryptocurrency exchange is a platform where traders buy and sell digital asset. It is also an exchange where you can buy and sell or exchange one cryptocurrency for another one or fiat currency. An exchange is an important link in the cryptocurrency industry; it is a place for people who want to trade/invest in cryptocurrencies. Despite all this, it is a known fact that many of the current exchanges are not making trading easy for old/traditional investors to come on board. A lot of exchanges are being created day by day but with all sorts of problem. Problems like lack of insecurity for investors’ fund, high listing fee that has prevented a lot of project developers to list their token to an exchange, high withdrawal fee, lack of customer care support and lack of liquidity.
CHALLENGES FACED BY EXISTING CRYPTOCURRENCY EXCHANGES
Security Issues: Security issues have been the talk of the day, it is the biggest threat to cryptocurrency exchanges, many often times exchanges face security issues because of hackers who sends all sort of Trojans and malicious links to affect exchanges which leads to many investors fund been stolen.
High Withdrawal Fee: One of the major problems faced by existing cryptocurrency exchange is high withdrawal fee when withdrawing coins.
High listing Fee: This is also a problem, many exchanges charges high fee for listing; these limit developers who cannot afford such fees.
Delay in transactions: Another issue with exchange is the delay in transactions; most exchanges are slow; from initiating a trade to making deposit or withdrawals.
Lack of liquidity: This is also a barrier to exchanges, due to lack of liquidity, sometimes orders are not been quickly placed because of low supply and demand of some coins thereby leaving traders to wait for required buyer/seller to arrive on the exchange.
A decentralized exchange is an exchange market that does not rely on a third party service to hold the customer's funds. Instead, trades occur directly between users (peer to peer) through an automated process.
FINATECH AS A DECENTRALIZED. EXCHANGE
Finatch Exchange is a decentralized cyrpto exchange, that will be fueled, based and solely powered by the Finatch FRC smart contract blockchain, Finatch will serve a distinctive exchange for the trading of various crypto currencies. Finatch exchange runs a very smooth and user friendly decentralized exchange platform. Finatch exchange is
equipped with various sub-platform, trading tools and secure decentralized wallet.
Finatch exchange will have various sub platforms to running within it namely:
SOLUTIONS PROFFERED BY FINATCH EXCHANGE
Building a UTXO-based smart contract
system with a proof-of-stake (PoS) and proof-of-work (PoW) consensus model. sea
There will be block rewards coupled with transaction fees and forgers
receive a percentage of ”interest” for the amount of funds each person stake.
Finatch will be compatible with the Bitcoin- and Ethereum ecosystems which aims at producing variation of
Bitcoin with Ethereum Virtual Machine (EVM) compatibility.
UNIQUE FUNCTIONALITY OF FINATCH EXCHANGE'
TIERED SYSTEM
There will be Different access rights enabled for different participants. loopchain will bring about differential
rights on nodes participating in blockchain, by separating transaction nodes from the audit node, etc., to deal with various tasks and compliance.
MODULAR STRUCTURE
Finatch will be customized in modular units. loopchain is able to
customize modular units based on modular structure, also capable of various customization of transaction
verifying nodes, external data interworking nodes, etc.,
BUILD DECENTRALIZED APPLICATIONS
Finatch will also leverage the best technology to create an advanced decentralized online platform that would be simple to use while also having the best of high security like; two factor authentication, rate limiting, concurrent connection limits.
DEPLOYMENT DECENTRALIZED SMART CONTRACTS
Finatch exchange will bring about the use of decentralized smart contracts to create ,automate and utilize tokens that will enhance the platform efficiency and effectiveness.
FAST, RELIABLE AND SECURED BLOCKCHAIN
Finatch exchange will be a fast, reliable and secured blockchain technology to help achieve the platform goals.
Finatch Coin (FIN COIN)
FIN Coin is a decentralised Cryptocurrency of the Finatch exchange. It is the local based Cryptocurrency of
Finatch Blockchain network. FIN Coins are cryptographic software tokens used to engage with distributed applications (DApps)
and smart contracts on the Finatch Platform.
SPECIFICATION
Total Pre-Mined Supply: 200,000,000
Block Target: 3-15 seconds
Stake Return: ~5 FIN Coin
Algorithm: Scrypt PoW/PoS and FT
CONCLUSION
Finatch Blockchain will handle more than 100,000,000 tranactions per
second, with as little to as low as $0.001 tranaction fee, making our
blockchain the most convinent and reliable blockchain in exixtence.
FOR MORE INFORMATION, VISIT THE LINKS BELOW :
WEB- https://finatch.com/
Twitter - https://twitter.com/FinatchInc
Whitepaper -https://finatch.com/docs/Finatch%20Whitepaper.pdf
Telegram - https://t.me/finatch
BTT THREAD LINK: https://bitcointalk.org/index.php?topic=5082870.0
AUTHOR'S DETAILS
Username: AFLOZY
BITCOINTALK LINK: https://bitcointalk.org/index.php?action=profile;u=1254935
ETH ADDRESS : 0xB7892cE888BF14f3259b0d9627aBe7FFEA158c7E