Next.Exchange - Interesting features and use cases

acecool (35)in #eth • 5 years ago (edited)

Away from the ICO craze of 2017, where we had projects springing up each new day. Project getting funding with just well worded "Whitepaper", fancy website and unrealistic demos. Forming bubbles, we saw Btc skyrocket to all time high of around $2ok. This came with its own blockchain limitation on the network since more people FOMOed in, more users used more blocks which invariably limited the number of available blocks, increasing the need for more block creation, increasing also costs of transaction as higher fee transaction is prioritized etc

Ethereum coming out during the early period of 2017 specifically January of that year with starting price at $8 saw unprecedented growth of over 1400% and more before the close of the year.

It was really indeed an interesting period for the blockchain since both mainstream and most media outlets would continue talking about this new technology, mass attention and hypes, most people didn't realize that more than half of the "projects" at the time where scams and fairytales, only suitable for imagination.

At the dawn of all of this hype. We realized we blindly followed projects without conducting real due diligence, we were carried away by the craze and frenzy. Then came along the long and harsh corrections witnessed in the whole year of 2018. A period strong projects as Next.exchange survived.

Why did I address this before going into the main topic?

Realize that the technology behind blockchain and the cryptosphere is a young and promising one, fill with untapped potentials, indeed we haven't scratch the surface yet.
That despite all that have happened during the correction and even in the boom days, we still had great project like Tezos and Icon launched and delivering on their said promises and working on them as I type.
That much more better project like Next.Exchange will solve the problems of both Blockchain 1.0 and 2.0 in a much more efficient and faster way.

Evolve or Die

Unarguably when we call Ethereum the father of decentralized application, we would be speaking the truth. In fact both great and scam projects leveraged on the infrastructural provision of the Ethereum blockchain since literally anyone can build their own project under the structure and launch straight away. This fact promoted in no small way the popularity of both blockchain and cryptosphere.

We have gone past this period in which Ethereum is still stucked in. We have gone past the use of just one consensus mechanism. Ethereum uses POW consensus engine which limits its scalability in no small measure, impacts the TPS, still at the low speed.

Next.Exchange platform uses the hybrid engine. Its an evolved platform that uses both the POW and POS mechanism. Leveraging on the security that POW consensus offers and the community driven benefit of POS consensus. This is a far reaching upgrade to the Ethereum blockchain.

About Next.Exchange - Next.Chain

NEXT.exchange is a hybrid exchange platform based out of the Netherlands that aims to enhance the mass adoption and appeal of cryptocurrencies globally for both individuals and businesses. Next exchange will completely take out current challenges faced by the two dominant blockchain as we have it today. Here is how it intends to achieve that;

Transaction Types: Next.Exchange have 3 transaction types in its Next.chain.

Normal Transaction: 1k TPS, this is quite fast and consider to be normal in current blockchain, higher though to both Ethereum and Bitcoin TPS combined. Consider to be completely decentralized since it goes through the next.chain directly.
Instant Transaction: 100k-200k TPs, Goes through masternodes. Allows for instant and real time confirmation of transactions. Although TPS depends largely on the number of masternodes in use.
Private Send: High TPS could be above instant transaction type, however the benefit of this type is the ability to divide transfer over various addresses in multiples, automated.

Asset hosting/deployments: Modelled like the Ethereum infrastructure. Next.chain can be used to issue assets. The benefits of this structure goes beyond just creation but also promotion of issued token and possibly listing. Projects coming onboard get the complete package from the deployment of contract to sales. A big win for both parties.

Short memorable addresses: Imagine having the ability to customize and shorten your preferred wallet address. The long string of address which is completely impossible to commit to memory like we have in other blockchain would not be found or use in next.chain. Users have the right to get short addresses, easy to comprehend and memorize like your phone number.

Decentralized and Centralized exchange features: Again may I reiterate herein that Next.exchange is the sum total of all that is needed in modern Blockchain 3.0. The built of the exchange is with a decentralized architecture as well as the centralization of its utility. Wallet of this exchange is created uniquely for each users in the blockchain and comes highly secured. Trades are done wallet to wallet. Beautiful and Optimized UI like we find in modern CEX exchange today.

The potentials of this current exchange platforms are endless and exhaust the scope of this article.