BoomCryptoMarket: harnessing the potential growth of the blockchain

saiterm (30)in #blockchain • 4 years ago

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Introduction
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.

An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

Decentralized Finance
Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. Moreover, another main reasons why cryptocurrencies are more fashionable is because we know that traditional banks, as modern as they want to be, have an old-fashioned culture and mentality. Beyond the typical financial instruments, they have only evolved to provide some online services. Now, with the emergence of DeFi (decentralized finance), a world of financial instruments is opening up, accessible, open and without permissions for anyone with a cell phone or a computer connected to the Internet. It is a movement that takes advantage of decentralized networks to transform old financial products into transparent protocols that work without intermediaries.

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For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

Moving on, the project I'm going to present you is Boom Crypto Market (https://boomcryptomarket.com/), a platform that offers a marketplace to help service providers supply these services to all their customers with full confidence while also helping service buyers to get the right service providers.

Definition
In more detail, Boom Crypto Market (https://boomcryptomarket.com/) is a decentralized finance platform with a professional marketplace and cryptocurrency asset listing platform and IDO powered by a native BCM token, bringing absolute transparency, trust and decentralization to the blockchain and cryptocurrency space through smart contracts that allows both service providers and buyers to execute contracts without trust issues.

Goals
With the idea of bringing transparency to the cryptocurrency space, to encourage more people to enter the blockchain industry, the main objective of Boom Crypto Market is to reduce the hassle of wandering through multiple platforms before retrieving specific information through a single platform that will centralize information on a decentralized platform that will, in turn, save time and money.

Features
Cryptocurrency assets and exchanges platform: will list available, credible and active cryptocurrency projects, exchanges, professionals and companies on the platform for proper tracking with strict criteria.
Cryptocurrency asset listing platform: including features such as trading history, order book and daily and total volume generated, current trading volume, active trading platforms and much more for each listed token or P2P trading exchange.
Decentralized marketplace: which provides a platform for buyers and sellers of assets to interact without any interference from a third party, ensuring that no payment is made for any service without proof of both parties involved provided on the platform to show completion of the contract.
Decentralized staking platform provides wagering functionalities: which will allow users betting the BCM token on the platform to earn various cryptocurrency assets, including MOR, and other cryptocurrencies will be included over time.

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Table of benefits

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Bounty program
The project gives the opportunity to earn BMC tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (https://bitcointalk.org/index.php?topic=5325014.0), where you can access the link in order to see what are the conditions to become an early Boom Crypto Market contributor and start acquiring tokens.

For more information about the project, you can visit and read their WhitePaper available here (BMC_WP). You can also stay tuned in their official Telegram Channel (https://t.me/BoomCryptoMarket). I hope you liked the post and soon I'll send you new ones.

Token details
BCM token is the base token of Boom Crypto Market platform that will be used for fee payments for all transactions carried out on the platform.

Total Supply: 100,000 BCM
Hard Cap: 900 BNB
Soft Cap: 300 BNB

Roadmap