KuBitX: Implement the crystallized idea of crypto currency
It's always good to talk about a new project of a crypto exchange. After all, you can achieve the ideal in this field only by trial and error. Well, it seems that KuBitX can become one of the very successful projects. Why? We'll tell you!
Simple and functional
KuBitX is the embodiment of the idea of what a currency exchange should be. Even at the dawn of the development of block-technologies, it was said that the exchange of currencies, withdrawal of funds and other operations with coins will be different in speed and cheapness, but, as always, in the hands of the speculator, each thread is worth its weight in gold.
But, thanks to hard work, the project team is going to create a stock exchange that, thanks to liberal commission policy, convenient functionality, transaction speed and localization, will be able to gain the necessary amount of operations for the implementation of a crypto-currency utopia: a decentralized P2P market crypt, where everything is transparent and does not require special knowledge for use.
Sin on the shoulders of crypto-exchange exchanges
As if not to hold on to its leading place of fiat banks, the fact remains: the future behind the crypto currency. And this is not just a positive statement, but an objective reality that surrounds us. At the time of this writing, the capitalization of all coins is $ 267 billion, and experts believe that it still has much to grow. It is noteworthy that one of the analytical portals in 2012 predicted a capitalization of 1 billion at the end of 2018 (we will not specify who was so unoptimistic about the cryptomir ).
The demand for crypto currency is growing, and with it the kind of banking that is particularly suitable for operations with such assets is developing. We already got acquainted with some such solutions and, most interestingly, KuBitX will also become one of them.
"Hey, we know for sure that KuBitX is a stock exchange, not a bank!" - you can object. But, looking at the experience of existing platforms, you can safely say that a better banking solution than a clearly functioning exchange can not be found. At the moment, industry leaders provide a full range of services related to the banking of crypto-currencies, including loans and deposits, interest on which is sometimes more profitable than in conventional banks. But, sometimes such exchanges betray their users and ideals, which allowed to build such a large crypto-currency market. Among the "crimes" of existing exchanges, which have become real banks for crypto-enthusiasts:
- Centralized. In spite of the fact that the idea of the crypto currency is that "the code is the law", many platforms for the exchange of crypto-currencies sacrifice this principle, for the sake of the opportunity to control the process. In this regard, the company often falls a hail of accusations of aiding fraudsters and the like. As a rule, the operators of exchanges can not do anything, and all the negative consequences are caused by the fact that the centralized exchange is the way to the next point.
- Insecurity. Looking at the fact that the exchange can not release processes to the will of the program code, it remains vulnerable. As they say: "Man is the weakest link". It was thanks to human intervention that the hacking Bitfinex Exchange broke out, which is one of the largest in the world. As a result, all operations were canceled, and the wallets were frozen. It is noteworthy that if the code were on the platform of the rules, and not the people, then there would be no break-ins or stopping the operation.
- Pseudo P2P. This is the sin of almost everything. Yes, it is quite difficult to ensure a sufficient volume of turnover on the exchange, so, in order not to lose its demand, centralized exchanges, just like banks, purchase crypto-currencies to conduct exchange transactions. For the user, it looks like he really made a deal, but, in fact, it's just that the creators of the platform just started working on it. It would seem that nothing too superfluous in this, but in this way users are forced to pay large sums for cheap operations.
- Fraud. We will return to this issue in the following parts. The matter is that some exchanges allow to carry out trade of one trader with own warrant, thereby allowing an economic offense on the space of a stock exchange. This approach deserves censure from the crypto-enthusiast.
Of course, this is not all bad, what can be said about exchanges (but it is possible and a lot of good!), Because products in a relatively young sphere tend to develop through thorns. But the beauty of these points is that with each of them can handle the platform KuBitX.
Authored by Nurfi
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