Over the past few years, proliferation of different cryptocurrencies has been on the increase, with market actors introducing different types of blockchain-based projects intended to solve certain problems with each projects being backed by own cryptocurrency.
Owning to the ever fast growing crypto space, players in the market are usually involved in day to day trading of cryptocurrencies while others are engaged in some form of investment like ICO'S, etc. But more importantly is the crypto Exchange that are needed for the trading and conversion of fiat to cryptocurrency and vice versa.
The KuBitX founders believe that there exist crucial shortcomings in the present cryptocurrency Exchange ecosystem, thus their reason for developing the KuBitX.
'KuBitX is one of the most advanced and robust cryptocurrency trading platform designed in a very user-friendly manner to enable people from all regions and background get a stronghold of the ideas revolving around the blockchain and the cryptocurrency space'
The KuBitX platform is intended to be a diverse marketplace for traders and sellers by providing core services expected of a modern Exchange.
KuBitX seeks to solve problems associated with lack of mature Exchange ecosystem which usually pave ways for market manipulation especially by whales due to lack of regulatory measures as well as problems of getting liquidity in fiat currency against crypto assets. These problems would be solved by involving market makers to build sustainable volume on the Exchange, reducing cost of transactions and simplifying the complete process. Anti market manipulation (AMM) tools, market surveillance, supervision and compliance are put in place to avoid wash trading.
The problem of security would be solved by storing password hashes instead of the original password on the KuBitX server, encrypting users data using AES-256 before inserting into the KuBitX database, designing a customized architecture to ensure encryption keys are stored very well, securing offline multi-signature cold wallet system as well as developing a third party code verification and penetration testing functionality while complying fully with GDPR too.
Other solutions of KuBitX include financial inclusion and economic development of emerging market especially Africa and Asia through educational sensitization as part of measures to ensure adoption of KuBitX.
Comparing KuBitX features with competitors.
KuBitX solutions to the present challenges of crypto Exchange looks great with their trade engine designed at a speed of 12 million transactions per second alongside low transaction fee to encourage platform usage.
The project has generated interest among crypto enthusiasts and already received great positive ratings from experts across crypto, Fintech as well as blockchain Industry.
KuBitX features compare very favourably with competitors and if well executed, stands to have a dominance share in the market.
The project team is another point of interest as far as investors are involved. Knowing the team backing a project is believed to boost investors confidence, so the information about team and advisors of KuBitX is available for investors on their official website and LinkedIn. KuBitX is backed by a team of twelve(12) members and five(5) Advisors with Eric Annan know to be Co-Founder and CEO.
The project ICO is currently ongoing with a fixed total supply of 500,000,000 KuBit Coin(KBX) at a price of 1Eth=8,909.09 KuBitcoin. Their softcap is pegged at 10,000eth with intension to burn all unsold tokens. Interested investors can use the links below to find more information regarding ICO participation.
Source/official links
Website: http://www.kubitx.io/
Whitepaper: https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf
Telegram: https://t.me/kubitx_official
Ann thread: https://bitcointalk.org/index.php?topic=4628365
Authored by Torps1 : https://bitcointalk.org/index.php?action=profile;u=1291920
