xCrypt - An Innovative Cryptocurrency Exchange on a Hybrid Architecture

in #ieo5 years ago (edited)

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For the past decade, the global finance community has been embedded in a quagmire following the successful launch of blockchain technology. This brought about a whole new system of finance. For the first time in many years, individuals can transact over the air without making use of debit cards or meeting the other party. Such was the unique offerings of the blockchain/distributed ledger technology.
With the success of this, another dimension came into vogue. Cryptocurrency exchanges were developed to aid with the transactions associated with cryptocurrencies. Currently, there are over 100 cryptocurrency exchanges and the number continues to increase.

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A New Exchange with a Difference
There’s no gainsaying the fact that crypto exchanges have been on help in the propagation of the decentralized finance agenda brought about by cryptocurrencies.
xCrypt is much more than a traditional exchange but one with a difference. First, it makes use of a hybrid architecture, which incorporates relevant features that will aid its operations.

Before looking at the importance of this crypto exchange, it's important to understand the problems/issues that led to its formation.

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Current Problems
Many issues continue to hamper the positive impacts of cryptocurrency exchanges. First, most of these exchanges focus on ERC20 token standards. It's worth mentioning that this standard is peculiar to Ethereum-based exchanges. In light of this, there's an inability to extend the services to other token standards.

The second problem is the slow Know-Your-Customer (KYC) process, which leads to hitches in the confirmation of users and their assets.

Third on the list is the security breach that led to the proliferation of hacks in cryptocurrency exchanges.

The next issue is the high trading fees that usually amount to 0.2% of the transaction sum. It's also worth noting that some of the current exchanges have downtime that lasts for many hours before it comes alive once again.

Sadly, there's an inability to conform to the dictates of security tokens. This is the reason why many crypto coins are unable to attain the status of security tokens.

Finally, most of the ranking cryptocurrency exchanges have not had it so good in retaining clients/users. This is because more exchanges with better offers spring up at intervals. In such scenarios, users won't have any choice than to switch camps to enjoy the unique benefits that come with such platforms.

xCrypt's Solutions

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Before considering the importance of this unique hybrid cryptocurrency exchange, it's imperative to understand the idea behind its conception. This project cum crypto exchange is not only here to solve the existing issues but to bring about a new standard in the scheme of things in the crypto world. Let's look at some of its features.

Zero Fees
The first thing that will strike investors is the zero fee approach. This entails that traders won't have to pay an additional fee for any transaction on the xCrypt exchange.
Second is the integration of multiple security standards. These include the Centralized Exchanges (CE) and Decentralized Exchanges (DEX) architectures. It took it further with the integration of Crypto Currency Security Standard (CCSS). CCSS has its delegation as protecting the information systems that rely on cryptocurrencies for transactions.

You may be wondering about the importance of xCrypt's adoption of hybrid architecture. The idea is to facilitate transactions with the CE and DEX approaches while using relevant security tools to reduce infractions along the line. Besides, it also leads to cost reduction.

The Marketplace
Aside from the use of hybrid architecture, xCrypt also has a decentralized marketplace where users/participants can transact without hassles. Prominent among the features herein is the use of a Peer-to-Peer trading format, which entrusts the power over transactions to the involved parties. All transactions are conducted by either exchanging or trading on crypto coins.

Why is xCrypt an STO?
It's common knowledge that the use of Initial Coin Offerings (ICOs) was the standard for many years after the inception of the earliest cryptocurrency - Bitcoin (BTC). In subsequent years, it became clear that Security Token Offerings (STOs) are gradually taking over the spot from the former. It is on this premise that xCrypt hinged its formation.
The use of an STO-format is to reduce the incessant cases of fraud that is gradually becoming a characteristic of ICOs. By this formation, xCrypt leads the pack into hitch-free fundraising that will be of huge benefit to investors. It is currently running its Initial Exchange Offering (IEO) on some exchanges such as IDAX. After that, it would proceed to other viable cryptocurrency exchanges such as BitFore.

Reward Mechanism
It's a fact that rewards/incentives go the extra mile to encourage user participation in any given event. Taking cognizance of this, xCrypt instituted a reward mechanism called, “AIRDROP RANKING SYSTEM". This will take charge of offering token incentives to users who meet up to the requirements of the incentive.

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Final Thoughts on xCrypt
The crypto community is competitive. Therefore, it takes a strong project with the right features to carve a niche for itself in the space. In light of that, the project is here to bring about diversification in the current formulation of cryptocurrency exchanges.
With its massive support for legal and compliance (KYC), zero trading fees and multiple security standards, xCrypt proves that it is ready to take over the scene.

Token Specifications
Ticker: XCT
Platform: Ethereum (ETH)
Token Type: Utility
Exchange Rate: 1 XCT = $0.1 USD
IEO Launchpad: IDAX Launchpad (Bitforex later)
Accepted Currencies: Ethereum (ETH), Bitcoin (BTC), Euro (EUR), Bitcoin Cash (BCH), United States Dollars (USD)
Soft Cap: $1.5 million USD
Hard Cap: $7 million USD
Country of Registration: Malta

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FOR MORE INSIGHT ON XCRYPT, VISIT THE LINKS BELOW
Website : https://www.xcrypt.club

Whitepaper : https://www.xcrypt.club/whitepaper.pdf

Facebook : https://www.facebook.com/xcryptclub/

Twitter : https://twitter.com/xcryptclub

Telegram : https://t.me/xcryptclub

Instagram page : https://www.instagram.com/xcryptclub/

Youtube CHANNEL : https://www.youtube.com/channel/UCSTVlIYw7fj9PrVu9FYKKVQ

Github : https://github.com/xcryptclub

Bitcointalk ANN Thread : https://bitcointalk.org/index.php?topic=4993175.0

Medium : https://medium.com/@xcryptclub

writer's information
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292

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