BIOKRIPT.... The next generation cryptocurrency platform.
ANALYSING BIOKRIPT DEFI
The ecosystem of cryptocurrencies is reliant on cryptocurrency exchanges since they link traders and handle transactions.
However, there aren't many cryptocurrency exchanges that comply with Shariah, which is where Biokript comes in. There are already more than 1.9 billion Muslims in the globe, and Biokript will provide halal investing alternatives with less risk.
In addition to Muslims, this offering will appeal to non-Muslims who are looking for a safe and secure return on their investments through our Shariah-compliant platform as well as a lucrative opportunity based on Mudarabah principles of profit-sharing using our proprietary Bkrp coin.
New bitcoin goods are created and approved daily, cryptocurrency is starting to spread to mainstream markets, and the number of cryptocurrency miners is increasing exponentially.
In certain countries, like El Salvador and Jamaica, even the governments are switching to cryptocurrencies as their official money.
OUR BUSINESS MODEL
Since centralised exchanges store at least some of their funds in hot wallets, which are vulnerable to hackers, they are less secure than their decentralised alternatives. Additionally, CEXs demand KYC and maintain sensitive investor data that might be accessed by criminals.
On the other hand, decentralised exchanges like Pancakeswap and Uniswap use liquidity pools where liquidity providers deposit an equal quantity of each asset in a trading pair, enabling traders to execute their orders. The absence of liquidity in this paradigm, however, also presents a serious drawback in the form of price slippage.
Traders that use DEXs run the danger of paying a lot more for an asset, particularly if they are carrying out various actions.
BENEFICIAL FEATURES OF BIOKRIPT
Bulk orders: You can submit or revoke a lot of orders in one request.
Post-only order: a limit order with an advanced time guarantee that will either be filled or cancelled;
An advanced limit order known as a fill or kill order requires a complete match or complete cancellation.
When the market hits a given price, stop-loss orders are utilised to buy or sell a certain asset.
API Rate Limit: This rate limiter can be set up at both the API server and trading engine levels, depending on the user responsibilities.
WebSocket API that is bi-directional: This enables end users and broker bots to place orders, cancel them, and receive trade notifications in real time. gRPC API with JS and go libraries: This quickens the development of bots.
CONCLUSION
The inefficiency and security of centralised cryptocurrency exchanges are demonstrated by history. The largest cryptocurrency exchanges continue to be the main target of hackers and are still susceptible to attacks. Even if hackers are not the issue, it might still be disastrous because just a small group of people have custody of billions of dollars. If you believe Binance or Coinbase won't experience something similar to Quadriga, you are gravely mistaken. Users' funds are not secured in the event of bankruptcy, according to a previous statement from Coinbase. The exchange's private key holders could all perish in a single aircraft crash, in a war, or in some other unforeseeable catastrophe.
When the market hits a particular price, stop-limit orders are utilised to buy or sell a particular asset.
A product with an increasing demand and a dwindling supply will eventually cost more money, according to the fundamentals of economics. The following ways in which our distinctive business approach will emphasise that reality:
A falling supply will result from our token burn, which is correlated with price growth.
Our Shariah-compliant trading platform will draw a sizable number of traders from the Islamic world who are seeking assets that are compliant with Islamic law.
The demand will increase as a result of our next-generation trading platform and profit distribution.
Related Links:
Website: https://bit.ly/biokript
Telegram: https://t.me/biokript
Twitter: http://www.twitter.com/biokript
Facebook: http://www.facebook.com/biokript
Instagram: http://www.instagram.com/biokript
Reddit: https://www.reddit.com/user/_Biokript
Whitepaper: https://www.biokript.com/whitepaper
Writer Details:
Bitcointalk username: Olyuwaoma4
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=3481537
Proof of authorization: https://bitcointalk.org/index.php?topic=5420377.msg61472029#msg61472029
ETH Address: 0xb6aBEeCa34B0703eB4Be26aFd69fAb383641C0ae