ETHERSHIFT: AN EXCHANGE FOR THE FUTURE

saraschoudhary (25)in #exchange • 6 years ago (edited)

Blockchain has indeed captured the imagination of the world and it is has been able to spoke consumer interest in the technology. Blockchain is still in very early stages of development and a lot of research and churning of the existing institutions is happening at every level. A significant part of the entire Decentralized ecosystem is played by exchanges that play the role of allowing the customers to interchange their cryptocurrency with other users. Exchanges are the place where buyers and sellers meet to decide on the price and quantity of the commodity under a few certain conditions.

Blockchain world has two types of exchanges: Centralized and Decentralized exchanges. While both have their own benefits, the future of exchanges is definitely Decentralized exchanges where there is no single authority to govern the decisions of how the exchange works. Decentralized exchanges allowing any digital asset to be exchanged between two agreeing parties and one doesn’t need to forfeit his asset to the exchange for transfer purposes as all the transactions happen between the buyer and the seller.

We have a whole host of Decentralized exchanges such as IDEX, Etherdelta and more which have innovated and popularized the concept but lack the punch to take the decentralized world to the next frontier and bring in the next wave of investors to the cryptocurrency market.

Ethershift is a brand new ERC20 token exchange that provides the easiest way to acquire brand new up & coming tokens before the big exchanges list them. The exchange allows users to quickly and easily exchange between different ERC20 tokens at the market rate minus a fee, without having to go through the hassle of signing up at an exchange, or learning how to use a decentralized exchange like IDEX.

HOW ETHERSHIFT WORKS

For an exchange of tokens to occur, users send value to a special address (which indicates the type of token they would like to receive back) and the exchanged value will be sent back to them at the address they sent the original tokens from. This user experience is implemented by fulfilling the exchange using hot wallets, and then later mirroring the trade (at a hopefully equivalent rate) on an exchange, and periodically re-balancing the exchange/hot wallets. Ethershift takes a cut of profit (half of it in the form of the input token, half of it in the form of the output token) to account for the risk of the exchange rate changing. Third-parties are able to integrate Ethershift into their own systems and receive a 50% cut of the profit via the Ethershift API.

ETHERSHIFT TOKEN DETAILS

The Ethershift which is based on the Ethereum platform will allow the holders to earn 50% of all the profits earned by the Ethershift exchange. Any transaction on the Ethershift exchange yields a fee of upto 5%, which will be divided equally amongst the 2 wallets which will be used for distributing profits and the other for operational expenses. The total supply of ESH tokens is limited to 15,000,000 and is based on the ERC-20 architecture.