Exosis – One Platform, Five Ecosystem (For All Your Cryptocurrency Needs)
TL;DR: Exosis is a multi-platform blockchain ecosystem that provides a robust platform for crypto investors to invest in the cryptocurrency industry with ease and peace of mind. It provides a one-stop place for all your needs by combining five different platforms in one; a decentralized exchange, a decentralized e-commerce platform, an over-the-counter (OTC) trade platform, a virtual masternode, and a multi-platform e-wallet.
Background: The Problem
Since the invention of the blockchain and the cryptocurrency, the growth has been amazingly exponential, notwithstanding the recent bull market; that is, the current general decline in the crypto market capitalization, occasioned by the huge sharp decline in the price of virtually all cryptocurrency coins/tokens. I don’t think there’s any other industry that has performed that so well in such a short time.
Of course, there’s just no way such exploit would have gone without attracting the eyes of a huge numbers of small and big-time investors; statistic has it that at its peak there were over a million active Bitcoin users daily, talking about only Bitcoin, not minding that there are well over 2000 crypto coins/tokens currently available with more launching every day, whereas Bitcoin share of the total crypto market capitalization is only about one quarter.
However, this rapid growth has also brought along a whole lot of nagging problem that’s currently threatening the survival of the industry. Some of which are; the issues of scalability, security, volatility, liquidity, complexity and the currently more gruesome; governments’ censorship in the form of regulation. Yes, regulation is good and needed for the cryptoworld to advance to the next level, but the manner in which most of the world governments are going about it is not beneficial to the success of the industry.
There is no gainsaying, the historic performance of the cryptocurrency market coupled with current happenings and some future analysis, are indicators to the fact that there are huge opportunities and potentials for investment and corresponding profit in the market, for smart investors who would take advantage of these opportunities to create services that provide viable solutions the current problems in the industry.
However, to be able to create viable solutions to these multi-dimensional problems of the cryptoworld, there needs to be a deliberate effort in understanding the various dimensions of the problem and then providing corresponding multi-functional or multi-platform services that can adequately handle most of the dimensions of these problems.
If you look closer at some of the problems I mentioned above, you will discover that many of them arise from the fact that cryptocurrency exchanges - which are currently the gateway to the cryptocurrency industry and its growth drivers, because they are the ones that generate the needed liquidity for growth - are largely centralized, and this brings us to one of the opportunities we talked about; the need for decentralized exchanges - DEX.
Though current implementations of DEX are far from meeting the needs of experienced users while still too complex for new users, they still represent the future of the cryptoverse, especially as it relates to the aspect of crypto exchanges. And like I mentioned earlier, for these to really work they have to be multi-functional, that is, they need to provide multiple functionalities and multiple investment opportunities.
The Exosis development team, having realized this fact, that the best way to create a good cryptocurrency platform that can handle the multi-facet nature of the crypto problems is by creating a multi-functional platform that has utility, and that is why they came up with Exosis; a multi-platform blockchain ecosystem that consists of a decentralized exchange, a decentralized e-commerce site, an over-the-counter (OTC) trade platform, a virtual masternode platform, and a multi-platform e-wallet.
What is Exosis?
Exosis is a multi-platform blockchain ecosystem that provides a robust platform for crypto investors to invest in the cryptocurrency industry with ease and peace of mind. It provides a one-stop place for all your crypto needs by combining five different platforms in one; a decentralized exchange, a decentralized e-commerce platform, an over-the-counter (OTC) trade platform, a virtual masternode platform, and a multi-platform e-wallet.
The Exosis team understands the risk associated with crypto investment, the high volatility nature of many utility tokens/coins and the importance of having a utility token that is truly functional rather than simply speculative, and that is why they decided to create Exosis Coin (EXO) as a truly functional utility coin, which is achieved by combining five different cryptocurrency businesses into one. These five different platforms will be powered by the Exosis coin (EXO), thus providing great utility for the EXO.
Exosis Ecosystem:
Though the five model in the Exosis ecosystem is seen as one, they all have several distinct features, which separates them from each other, while complementing each other. So let briefly look at some of these model and their features;
1. Decentralized Exchange
The Exosis exchange is a secure and efficient decentralized exchange which will be able to handle up to 10,000 transactions per second. It will be totally anonymous, it will not hold or control users’ fund, and as such, there will be no government involvement or interference because of it complete decentralization.
This is aimed at providing to solve the many issues that have been troubling crypto exchanges in recent time; most of which was listed at the beginning of this article.
Exosis exchange main features;
Order Processing
Because the reliability and speed of processing order is one of the most important aspects of a cryptocurrency exchange, Exosis exchange’s order processing will be meticulously built to be more efficient and faster than other exchanges at the rate of 10,000 TPS, which is achieved by not running on blockchain’s order processing because of its current limitation in speed due on block generate time.
Decentralized Chat
This will be a core part of the exchange, user will have absolute freedom of expression because their participation will not be censored in anyway, but users’ credibility will be ensured using vote score based on an up-votes and down-votes rating system, where users will have the freedom to up-vote and down-vote each other depending on the quality of their content. When a user’s vote score becomes negative, such users will be automatically banned from the chat.
Automatic Deposits And Withdrawal Of Funds
The deposits and withdrawals on the exchange will be automated such that Exosis will have no control over users’ fund. This will ensure that users have a seamless deposit and withdrawal experienced without any mid-way inference or delay.
Security
By now I believe every crypto enthusiasts and investors know that the issue of security is not one of the things to be handled lightly. Security issue has been the most devastation problem that has continued to plague cryptocurrency exchanges from inception until now. As a matter of fact, this space will not be enough to record all the menace and the corresponding effects of hacking/hackers over the course of the short years of cryptocurrency exchange evolution. The closure of Mt. Gox in 2015 is an easy case in point, along with many other uncountable occurrences.
The Exosis team understands this, looked at it critically and decided to implement an high level security that will not only win the trust of the users but also is absolute transparent all the way, such that users and prospective customers can always and easily check the level of implemented security features to ascertain it is adequate to secure their transactions and is maintained at all times.
Therefore, according to Exosis, the A+ security that we will provide on the Exosis platform can be checked on Mozilla observatories such as X-XSS, X-Frame, CSRF, CSP, CORs HPKP, HSTS, and secure cookies.
Coin Listing
Listing of coins on the exchange will employ an already familiar vote raking system, where users vote for their favorite coin(s) that they want to be listed on the exchange, the top ranking coin(s) based on the numbers of valid votes received, will be listed on the exchange. The main point of the coin listing feature of Exosis is that the software of the coin(s) to be listed will be thoroughly checked for issues and compatibility - to maintain the security of the exchange and the safety of its users - before they added to the exchange.
2. Full And Virtual Masternode
This is another important element of the Exosis ecosystem which provides investors another opportunity to generate passive income. It has been proven over the years that one of the best ways to generate income in the cryptoworld is by investing in staking and/or mining. You can google “Bitmain”, to read about the success of one of the leading crypto mining companies, as an example.
Though mining and staking require high-end hardware, reliable broadband internet connection and running some advanced software, it provides handsome returns on investment if well managed and properly optimized. By the way, staking involves running a node or a masternode to provide consensus to the blockchain. You can also google “Staking and Mining” to read learn more.
Exosis having realized that not every user has capacity or funds to invest in the required hardware or internet connection to run a full masternode, they created virtual masternodes that users can run without the hardware, alongside the normal full maternode for those who have the required hardware and fund.
According to Exosis, the requirements to run a virtual masternode will be only 100 EXO coins and the rewards will be the same as running the core wallet, but the difference is that the duration of staking will be locked. There will be flexible durations of 1, 3, 6 and 12 months. While running a full masternode requires you to have the full version of the wallet and stake at least 10,000 EXO coins for one node. This EXO coins must remain staked in the wallet, be connected and be available 24/7 all through the duration of your staking or running the masternode. You can read the Whiepaper for full details.
Exosis promise that the virtual masternode platform will be launched as soon as the ICO is completed, allowing users to run virtual nodes, based on the requirements mentioned earlier in this article.
3. Decentralized E-Commerce Site
Exosis also aims to launch a decentralized e-commerce platform with the objective of solving the two e-commerce problems of hacking/phishing and undue delays in international trades. They intend to create a reliable riskfree medium for online purchases, by using the immutable feature of blockchain technology to secure every transaction, thereby preventing fraud.
The best thing about the platform is that it will be a fee-free (Zero Fee) e-commerce platform, where no fee or commission will be charge on sales, except for the blockchain and service based withdrawal fees, which is normal for most cryptocurrency blockchain; from Bitcoin to Ethereum, Ripple, Litecoin, etc. Payments on the platform can be made using the EXO and/or any other supported cryptocurrencies.
Also, digital good transactions will be instant, while that of physical good will use an escrow which will enable goods delivery are confirmed by buyers before funds are released to the seller(s), to ensure quality and further prevent fraud.
4. An Over-The-Counter (OTC) Trade Platform
Exosis also provide a secure over-the-counter (OTC) trade platform where transactions will be executed using Exosis smart contracts together with Escrow, in order to guard against counterfeit transactions and scams. The most important feature of this platform is that it will be will be global; not restricted to a particular region, it will support multiple cryptocurrencies alongside fiat currency. By the way, OTC refers to trades that occur directly between two individuals.
5. E-Wallet
The last element of the Exosis ecosystem will be the e-wallet, which will be a feature-rich cross-platform and multi-platform wallet that allows users to have access to their funds anywhere, anytime using any platform. It will be secured using advanced cryptographic algorithms that will be built to keep hackers and phishers far away. The wallets storage system will be optimized for efficiently to ensure that its data size doesn’t exceed the requirements of most mobile devices. The Windows, MacOS, Android and iOS versions will come first, while the Linux versions come later in the future.
Roadmap
Token/Coin ICO
Token Symbol: EXO
Platform: Independent Mainnet (Own Blockchain)
Type: POW (Sha3)
ICO Period: October 21 - November 17, 2018
Price: $5 USD
Total Supply: 21,000,000
ICO Sale is live, register to join > https://goo.gl/gpZvhT
According to Exosis; the EXO coin will be based on a Mainnet instead of being linked to a parent chain.
That is, the EXO coin will have and run on its blockchain, which will provide unlimited ability to implement high-level security features extensively as needed and make it highly scalable beyond what is currently obtained with other parent chain based token/coins like ERC-20 for Ethereum, Nep 5 for NEO, etc.
Team
Conclusion
From my personal analysis of the available information and activities on this project, I can say I’m excited about the project because I believe in their proposed solution and the huge potential for greater success. I will give the tokenomics an A+; the total coin supply of 21 million (the same as Bitcoin’s) for a utility coin of its nature, is a real game changer.
Not to mention their proposed implementation of virtual masternode which I believe will solidify the utility of the EXO Coins and get a lot of investors rushing over to their platform, then the secured “Zero-Fee” e-commerce platform, smart contract based OTC platform, secured cross-platform/multi-platform e-wallet, and to crown it all up, their fast and efficient decentralized exchange.
Without any doubt, Exosis is set up for success if the team can meticulously implement the proposed solutions and deliver on them. I believe Exosis approach to making it much easier to generate income will go a long way in helping to deepen blockchain and cryptocurrency adoption.
More About Exosis:
Website: https://www.exosis.org
Whitepaper: https://www.exosis.org/whitepaper.pdf
Telegram Chat: https://t.me/exosis
Telegram Channel: https://t.me/exosisnews
Discord: https://discordapp.com/invite/YEkbtGu
ANN: https://bitcointalk.org/index.php?topic=5040959
Github: https://github.com/exosiscrypto
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