Writing Contest: Streamity

rr260190 (30)in #originalworks • 7 years ago

Cryptocurrency as we all know it is one of the fastest growing market and many have tried to convert them and have lost most of their investments due to untrusted transactions and others are afraid of losing theirs, So thats where Streamity comes in.

What is Streamity ?

Streamity is the first decentralized platform for the exchange of crуptоcurrеncy into any currency, it allows its users to trade without middle-men, because it guarantees fair and secure deals thanks to the structure of the smart-contracts and API of payment systems.

What is StreamDesk ?

StreamDesk is the first ever decentralized platform for promptly and easily exchanging crуptоcurrеncy for any currency, which allows users to trade without annoying and meddlesome middlemen therefore guanranteeing fair deals and security thanks to the architecture of smart-contracts and API of payment systems.

What this entails is, if there was an amazing StreamDesk back in December what I would have done to safely and without hassles of mind and body get my Cryptocurrency would have been just to enter into a smart contract with whosoever I was buying from. Ordinarily and quite true to our nature, I would have wanted to get the Bitcoins first while the other party would have wanted the cash first. I call this the exchange deadlock. StreamDesk's role is to break this deadlock.

With Streamity's StreamDesk however, once both parties send their assets to StreamDesk, it would trigger a Smart contract and subsequently release the assets to both parties. Crypto made easy!!!

Fairness of the Blockchain

Streamity eliminates this problem by “binding their customers to the Market section on their platform.”(sic) What it does is that it “collects information from major exchanges and display the value of cryptocurrencies and capitalization of companies.” This initiative eliminates any possibility of a seller changing prices to gain excess profit. This is because the parties will know what the fees are and hence will not be surprised after the transaction has been executed.

The advantages here are twofold. For the customer, there is transparency with the best security provided by smart contracts simply because the rates are fixed, the commissions are extremely low and there is no more annoying hidden fees that many traders use to inflate the price of their product and hence, rip the customer off. Of course, there is also the larger topic of security. What Streamity has done is to lock the seller’s cryptocurrency within a smart contract until the buyer has assured that he/she has paid. And there is no commission.

On the other hand, for investors, there is the ability to make accurate projections regarding profits, seeing that the price will be determined by the market and not by legions of individuals, many of whom use underhanded methods to mulct unsuspecting customers. To bring it more into perspective let us look at a use-case scenario.