Streamity is a Project with the purpose of focusing in the creation of cryptocurrency exchange, which includes a larger set of services. Streamity operates with what is called smart contracts (is some kind of computer protocol or algorithm that intents to facilitate, verify or enforce the negotiation on a contract)
This is the crucial part of STREAMITY, STREAMDESK take care of ensuring the exchange of cryptocurrencies for fiat currencies (Is the currency without intrinsic value that has been established as money, often by government regulation) by using the previously explained Smart contracts.
According to STREAMITY´S website: “StreamDesk is the first ever decentralized platform for exchanging crуptоcurrеncy for any currency, which allows users to trade without intermediaries, guarantees fair deals and security thanks to the architecture of smart-contracts and API of payment systems.”
Meaning what exactly? You may think. STREAMDESK performs P2P Exchange, which happens to be not very easy and secure, also is quite frightening to put it that way to the newcomers in the art of cryptocurrency trades, but this is where smart contracts come bashing in. the function of the smart contracts is to ensure the transactions, protecting the buyer and the seller of being rip off or been victim of exchange fraud. How? Aggregating market capitalization and price data from major cryptocurrency exchanges, Blocking the seller´s cryptocurrency within that same smart contract and where the fiat is transferred to the seller´s account, the smart contract will release the cryptocurrency to the purchaser, delivering a swift and smooth transaction with extreme security, also All fees are known in advance and will be transparent.
STREAMITY´s Whitepaper can answer that question for us giving us a review of 3 competitors like:
This is easily the more used example of lack of secure transactions in what is P2P Exchanges. Local Bitcoins use a system somewhat based in a kind of reputation system for their sellers and that reputation is represented as a percentage of feedback that is given by previous buyers, something like when you are asked to put a review in google play from 1 to 5 stars, kind of the same thing, we know that this system can be easily messed up with, not giving us the kind of security that we want and deserves as users. Local bitcoins also as its name indicates only support bitcoins.
This platform supports dozens of cryptocurrencies, a great difference with Local Bitcoins, but they are not allowed to sell cryptocurrency for fiat money and the security of a deal is only guaranteed by the credibility of the team. So in my opinion a big no.
It only supports Bitcoin and Ethereum, giving that this platform is in kind of beta phase, test mode or whatever name you want to use, is clear that is still in progress and not recommend to use right now.
First of all: Streamdesk uses Yandex and Paypal, many others will come to their system soon like Skrill and Paytm so don’t worry about that. Giving a lot of options to work with.
2nd: The option to exchange cryptocurrency to fiat or vice versa, of a secure way, scam free, giving that little push to the new cryptocurrency traders out there to finally participate.
3rd: Total freedom of your cryptocurrencies, you can sell, manage, buy, anything that you want to do without the bothersome third party interference.
4th: Security as a priority, giving a good point of start to the use of Cryptocurrency worldwide.
Entry for the originalworks contest
streamity 2018
