I would have liked to boast that I discovered Blockchain technology and I was one of it's very early users but that would be a lie, I discovered the existence of blockchain technology sometime in 2015 and I immediately knew that I have stumbled on a Goldmine and that Blockchain was going to be the future. One of the first innovations brought by the Blockchain is Bitcoin.
Before the invention of blockchain technology, finance itself was heavily centralised, for example, you cannot send funds from one country to another without using centralised institutions like banks, most times these banks need your physical presence before the transactions are executed, this leads to time wastage and frustration because your have to leave your other activities and focus on that.
Then came the Magical Bitcoin, which made it possible to make truly peer-to-peer transactions across the world no matter the location, no matter the currency, no matter the language, Bitcoin can be transacted from the comforts of your home and the best part is that because of the decentralisation of the Blockchain, you can track the transaction until it's final destination. Sounds too good to be true right? Well, it had some downside and we are about to look at them now and after the problems are outlined, inwojld tell you about the solution I discovered and the picture below is a hint.
THE PROBLEMS
The year 2017 is jokingly referred to as the year of Cryptocurrencies because that is when Blockchain users spiked so much that we started seeing the problems which were previously not an issue, infact in December 2017, the CoinMarketCap of all Cryptocurrencies hit an All Time High(ATH) of almost One Trillion US Dollars. The sudden spike in users exposed the vulnerabilities and some of them are Scalability and Speed of Transactions.
The Bitcoin Blockchain was made to handle 7TPS(Transactions Per Second) and the Ethereum Blockchain was built to handle 15TPS, and in that time period, Users in the Bitcoin Blockchain alone were making way more than 7TPS and this caused a terrible backlog in the Blockchain which lead to longer transaction confirmation time and higher transaction fees, users were having to pay as high as $25 as transaction fee and some had to wait for days before their transactions were confirmed.
This has made integration of Cryptocurrencies in the real world almost because existing Blockchains would not be able to handle the number of transactions not guarantee a frictionless blockchain experience, this problem is what made the Ruby-x Project's team to introduce a revolutionary solution called RUBY-X
Introducing Ruby-X
Ruby-x is a cryptocurrency exchange that was not only developed for the trading of cryptocurrency assets but also funds technology and others. The name was derived from the precious gem and it denotes passion to live life fully and provide encouragement to others. So with this exchange , traders can deal on it with so much passion and joy as they make a lot of profits from it.
The exchange was built on three core main values and they include Transparency, extensibility and its strength.
Transparency - We all know that Ruby is so clear and transparent and this gave the inspiration to the platform to be very transparent. All the fees being charged to a user as well as his transaction history are shown clearly and very visible , it's never hidden to the user. The profits being gained by a user, 5% of it is held in order to promote the risk management of the platform.
Extensibility - the platform was made to be very extensible as well as adaptable to numerous scenarios and marketing skills. It not only have a cryptocurrency exchange, it supports the exchange of the digital assets to fiat and back. The cryptocurrency can be traded against numerous currency pairs such as BTC, ETH, USDT and RUBY. It also has a multi platform support eg. Desktop, mobile devices as well as the Web application. The mobile app will have a widget function that pops up in real time. It also have support for startup ICOs where they can launch their tokens on it. Lots of information and technology can also be exchanged and traded on the platform. It will also have a adaptable Artificial intelligence that can support a trader to make more profits on it.
Unbreakability - The platform was made to be very strong and be able to withstand cyber attacks. It will also support a cold wallet that users can safely secure their digital assets and its supported by the BITGO and Coldlar. The exchange server is also secured by the AWS support that enforces its security and makes it able to support a very large traffic.
Finally it has a very great and active team that are working tirelessly to ensure the strength of the platform.
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THE RUBY TOKEN
The exchange runs on its native cryptocurrency called the RUBY tokens and these tokens form the base of the Ruby-X ecosystem. The Ruby token can be traded against most of the cryptocurrency on the platform in the coin to coin exchange. Its also used to pay for fees on the exchange.
The Ruby token has the following characteristics and it includes
Token Information
Name - Ruby Tokem
Ticker - RBY
Token type - ERC20
Blockchain type - Ethereum
Total supply - 20 billion RBY
Tokens available for sale - 2 billion RBY
CrowdSale Date - 10 August - 17 September 2018
TO LEARN MORE ABOUT RUBY-X KINDLY VISIT THE FOLLOWING CHANNELS
Website: https://ruby-x.io/main_en.html
whitepaper: https://drive.google.com/file/d/0B6mGR3eqXfflcDY2VFJtaFRYSWZaTzZWMDhSMUhzLTNJQ2V3/view
Ann thread: https://bitcointalk.org/index.php?topic=4564194.msg41126532#msg41126532
Media: https://medium.com/@rubyex
Facebook: https://www.facebook.com/RubyExchangeOfficial/
Twitter: https://twitter.com/RubyExchange
Author Information:
Bitcointalk Username: seblbj
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2022050;sa=summary
Eth Address: 0xBb3ed2A0eb60eEE8c0DbF6D1b74e8b0A21FAb056
