This video is my analysis on Binance, OKEx, KuCoin, and Bitpaction. I discuss some history on exchanges from BitInstant to Mt. Gox and why I believe Binance emerged to be the top exchange in the space.
If you remember a talk by the founder and CEO of Binance, Zhao ChengPeng, in Jan. of this year, then you will remember that he discussed his vision of crypto and exchanges in the future. He believes this market will be 100x from where it was at the All Time High's of $830 Billion in total valuation.
In this video, he requested that developers create a blockchain capable of completing over 42,000 tx's per second, which is where their current central model was at the time of the conference (this is when they announced their intention of moving to a decentralized model). CZ also mentioned that more and more exchanges will be necessary and that he planned on trying to stay ahead of the curve.
This is why I believe Bitpaction will be as successful as the aforementioned exchanges. The UI/UX of the website has elements of each and is doing everything right in terms of growth, security, and functionality. The ease of use mixed with the inviting user interface make it an exciting and safe choice for traders to do business.
It is my opinion that this new exchange will quickly begin to gain a following of loyal traders that will enjoy the same perks as Binance and KuCoin. They run giveaways, an affiliate program that is 2-tiered, and their own token with great potential for profit gains and lowered service fees.
They have partnered with new and upcoming projects, which I really like about the exchange as it gives both ample opportunity to grow, market, and develop together.
One such project is PokerSports. I mention the growth opportunity due to inflation of market valuation in the video, but I also see growth simply based on development of each platform. The ability to market each platform together will pay dividends as crypto and blockchain continues to grow throughout the varying industry fields.
As Zhao mentioned in his presentation he sees the future of crypto having millions of varying tokens, but believes only several good ones will retain value. The exchange will be needed to provide a place for value to be traded and maintained. This is another big reason why Bitpaction will be necessary and continue to grow. Luckily, PokerSports will be the first to develop a number of projects in a few growing markets. The jump to blockchain will help the platform spread to parts of the world that were usually unattainable by other platforms within the industry.
I believe Zhao's assessment of cryptocurrency may be a little inaccurate, but I do think there will be an influx in tokens. We are already in the midst of an entirely new business model of fundraising, which is headlined by initial coin offerings (ICOs), and this trend will continue to forge new opportunities of crowdfunding for exciting projects. This is a direct benefit of blockchain technology and the allure of adopting this technology to further the standards of business, finance, and data storage.
So, I hope you enjoy the video(s) and let me know what you think about my assessment and Zhao's projections!
Some links:
Bitpaction: https://goo.gl/Jkry7A
Pokersports: https://goo.gl/zvgV2W
Bitpaction Twitter: https://twitter.com/bitpaction
Pokersports Twitter: https://twitter.com/pokersports_
@mycryptoverse