XCRYPT: CRYPTO EXCHANGE WITH A DIFFERENCE

evolution2k4 (30)in #cryptocurrrency • 6 years ago (edited)

Cryptocurrrency exchanges have emerged, and grown in popularity, in tandem with the popuarity of the blockchain and cryptocurrrencies. These exchanges aim to make or, bring crypto coins closer to the average human. This they do by creating several tools and mechanisms to easily convert cryptocurrrency to fiat and vice versa. No gain saying that cryptocurrrency exchanges have grown & made huge strides, and the increased demand for digital assets in recent times is a testimony to their growth. That said, there is still room for huge improvement. Some issues still linger that I believe pose a threat to the mass adoption of cryptocurrencies. Issues ranging from lack of trust and loyalty issues, to lack of good user interface, high transaction fees, difficulty of real time trading, slow deposit and withdrawal etc.

Constant effort is being put in to improve the quality of service offered by cryptocurrrency exchange, in an effort to improve user experience and overall mass adoption of cryptocurrency. Let me introduce you to XCRYPT, one unique project that is planning to bring peculiar solutions to the cryptocurrrency exchange issues mentioned above.

WHAT IS XCRYPT ALL ABOUT?
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XCRYPT is a peculiar cryptocurrrency exchange in the sense that it possesses the attributes of both a centralized and a decentralized exchange. I'll break down the difference between these two types of cryptocurrency exchanges subsequently in this write up. But for now, it will delight me to let you know that the Xcrypt team has introduced a good security measure to counter the security issues such as adoption of encrypted wallet with AES-256 which are secured offline. XCrypt is a trading platform designed to exchange and trade coins in peer environments. Xcrypt is the first crypto ecosystem with extraordinary added value with their core focus on their unique exchange; a hybrid exchange , equipped for securities and for a marketplace built for the ERC-721. With Xcrypt exchange traders can easily relax and forget the issues of hacks and attacks. This security will be achievable through the introduction of blockchain technology and other corresponding technologies that will involve the use of smart contract to bring full automation into the platform and at the same time increase the transparency of the platform; a feature which users and traders have been clamoring to have for a long time.

The team has developed an end to end system which comprises of a debit card and a social platform for users to interrelate and build a robust community. The xCrypt ecosystem is built in order to make sure that all of its segments can function both as an individual and autonomously. Their core purpose is to revolutionize the world of cryptocurrencies by means of their network. With the help of their network, various services will be accessible by users to take advantage of, providing noteworthy ecosystem for growth.

XCRYPT is the first crypto ecosystem with an high added value with the heart in its exchange. Hybrid, ready for STO and for a marketplace made for the ERC721. We created this end to end system which includes a Debit Card and a Social Media Trading system which is an advanced investment solution, which enables trading on one account managed by a skillfull and experienced trader using his own funds and joint funds invested by other traders in his SMT account. This ecosystem is made to be at the same level as the world’s big players, and even surpass them, for we are already suitable in this field’s future.

THE XCRYPT HYBRID PLATFORM

This exchange provides a trustless, real-time, and high-throughput trading experience in combination with a blockchain based settlement. Being hybrid basically means that it combines the advantages of the centralized and decentralized exchanges while making sure that the platform does not carry over any defect of any other exchange. As a result of centrally managing trade matching and Ethereum transaction dispatch, the hybrid exchange empowers users to trade constantly without waiting for transactions to mine, fill various orders at once, and revoke orders immediately without gas charges.

HOW TRANSACTIONS ARE CARRIED OUT ON THE XCRYPT PLATFORM

On the Xcrypt platform, the maker and taker have to deposit their tokens into the xCrypt contract, and database is updated to take account of the customer addresses and token balances, thereby allowing the maker to create and submit a signed order that comprises the important trade data. The system checks and authenticates that the maker's account has adequate funds and that the signed transaction matches what was submitted to the system. When all details are confirmed, the order is added to the order-book. This then allows the taker to submit a matching order, authorizing a transaction with the same price as the target order and an amount not as much or equal to it. The system will the authorizes that the maker's account has enough assets and that his authorized transaction matches what was submitted to xCrypt. When the system confirms all last submitted details, the trade is marked as corresponding thereby updating the order-book to mirror the new balances. This enables the buyer and seller to continue to make new trades based on these updates. Instantaneously, the authorize order is then added up to the queue to be transmitted to the Ethereum network for processing. When all trades have been mined, the transaction is posted to the blockchain, and the transaction will be mined and update the contract balances to reflect the trade.

THE XCRYPT TOKEN

The XCT token is the cryptographic token that will fuel the Xcrypt platform. The Xcrypt team is currently running an IEO on Idax exchange. Subsequently XCrypt token can also be purchased and sold in both fiat currency and alternative electronic money on the Xcrypt exchange. In addition, the price of the currency will be determined by different market forces and electronic money exchange systems. The price of a coin has no maximum, which means it can increase remarkable values. XCrypt token has a limited number of tokens, limited to 200,000,000 tokens.

TOKEN DISTRIBUTION

TEAM
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PROJECT TIMELINE
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