Streamity - Decentralized Secure Transaction Platform

suraj0651 (46)in #writing • 7 years ago (edited)

Streamity: P2P Exchange Platform between Fiat/Cryptocurrency for the Blockchain Era!

In this post I will discuss an application, based on blockchain technology, that will allow us to exchange the cryptocurrencies for fiat money in a simple and safe way, without intermediaries and also why this tool is considered as superior to the others. Their main project consist of creating a powerful cryptocurrency exchange with variety of related services.

Exchanging Cryptocurrencies:

Converting cryptocurrency into fiat money is still a problem faced by crypto users on the cryptocurrency market though it is considered as one of the fastest growing and one of the most promising markets right now. Of course there are a lot of cryptocurrency exchanges, but first of all these are not sanctioned by governments and are therefore a risk, and also there commissions are way too high. There security is not so good, and also some of them can turn out to be scams or easily hacked.

Currently, conversion can only be done through a handful of exchanges, some of which are illegal, overpriced, and slow. Furthermore, there are limits to what one can do on some of these platforms. For example, some only allow customers to buy a handful of coins using fiat, but on the other hand, they do not allow people to sell or if they allow people to sell, they do not allow people to buy.

Platforms like Local-bitcoins only allow exchanging in Bitcoins (BTC). That is another obstacle. So, if you want to exchange the Litecoins (LTC) to fiat, you should look for another platform that will exchange LTC to BTC, firstly; and then proceed with the change from the BTC to the fiat currency.

Other platforms like Changelly, do not allow you to buy cryptocurrencies by fiat.

This is where Streamity emerges as a solution to these problems.

So Streamity, the first decentralized cryptocurrency exchange, is now introducing its DAPP STREAMDESK, a P2P platform for smart-contract currency exchange. Streamdesk is an automatic service with minimal commissions and fair market prices. Streamdesk main function is to give its users transaction security because these transactions will be made directly from user to user, the system will be triggered once the payment is made, and will automatically unlock the smart contract and close the deal.

Streamity is also a network which allows smart contracts between users and guarantees to have a fair trade with security. The major component of streamity is streamdesk which is used to make smart contracts.

What is StreamDesk ?

StreamDesk is the core of Streamity which is a P2P exchange that secures the transactions of merchants from fraud by the use of smart-contracts. It's also a decentralized program with a distributed database for the exchange of crypto-coins for real money. An effective Streamdesk aggregator ensuring trade of cryptocurrencies for fiat currencies below smart contracts without intermediaries is the important thing element of Streamity venture. Streamdesk will also ensure instant mutual trade of cryptocurrencies, with most safety and performance, suitable for maximum cryptocurrencies current in the market.

For compatibility, Streamity is in partnership with CIVIC, NEM & EOS, but these services are not safe for new users. To have trustful transactions for new crypto currency users, Streamity is using StreamDesk platform, in which smart contracts are used for transactions.

All operations will be carried out transparently and, in just a few clicks, users will have exchanged their money quickly. The user will choose their transfer method through the StreamDesk application and in most cases there will be no fiat money charges. The charges in cryptocurrencies will vary between 0 and 2% (Minimum Fees).

STREAMDESK vs OTHER PLATFORMS:

There are many platforms in which smart contracts are created for transactions of crypto currencies. In other platforms, if you want to buy any currency, you’ll have to send a payment first. Once you have sent the payment, it can’t be reversed. May be another person dealing with you do not send your desired currency. So you lost your money also. This means there is very much involvement of trust for making transactions in crypto currency. But in streamdesk, this fraud system is expelled. In this platform, if a buyer wants to buy ETH coin, after sending, buyer’s crypto money is blocked with in smart contract until you get your ETH. Payment will be released to purchaser when your ETH coin is sent to your account. Since there is no chance of losing your money with STREAMITY.

Streamity Token (STM):

Streamity-Token (STM) is the token to be used within the whole Streamity ecosystem as a payment method for various services offered by the project, especially with the focus on the p2p cryptocurrency exchange. The number of STM is limited to 186,000,000 tokens and there won't be any more STM tokens generated in the future.

Streamity's Road-Map:

Conclusion:

Even though, one would say that there are already many various types of exchanges, if StreamDesk is able to provide the low prices that they promise now, many people will simply change their old exchanges to the new, possibly better one, therefore this aspect shouldn't be a concern about this project. As the market is rapidly developing, there will be a need for such platform.