xChainge Aims to Replace Crypto Exchanges with Blockchain-based P2P Transactions, Gears up for Crowdsale
MOSCOW, December 5, 2017 /PRNewswire/ —
xChainge, a platform with a simple user interface for anonymous and decentralized exchange of assets based on the Ethereum blockchain, offers an alternative to centralized crypto asset exchanges with neither commission fees, nor mediator companies or KYC/AML. All of the platform’s functionality is available in the xChainge Wallet application. The xChainge Wallet enables P2P transactions of crypto assets from an interface similar to popular online banking applications. xChainge Wallet for Windows will be launched in Q1 2018, followed by iOS and Android apps in Q2 2018.
Key features of the xChainge Wallet app include:
• Secure storage of crypto assets;
• Secure peer-to-peer exchanges;
• Easy-to-use smart contract builder for fully customizable exchange transactions;
• Smart dispute resolution with the help of mediators;
• Creating custom marketplaces.
The xChainge Wallet does not require verification and gives users full control over their assets. As a means of payment on the platform xChainge Token (XCT) is introduced.
The xChainge token is an ERC-20 Ethereum-based utility token, which is used on the platform to pay for Matcher node services and make Matcher node security deposits. It is issued by a non-profit fund which is creating the xChainge platform.
xChainge was co-founded by Albert Ibragimov, Danil Popov, Artur Ustimov and Egor Klimenko. All co-founders have a unique expertise in private equity, venture investment, financial products and marketing solutions. The core team of founders and early investors are the shareholders of Aktivo, a leading service of collective investments to commercial real estate property.
The crowdsale is scheduled to run between December 5th and December 30th, 2017. The team chose the Dutch auction model, similar to Raiden Network. At the start of the crowdsale each token will cost 0.05 ETH and the price will gradually decrease over time with constant rate. The auction hard cap is equal to 20 000 000 XCT tokens.
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Cryptocurrency Benefits and Drawbacks
Cryptocurrencies make it less complicated to transfer price range among two events in a transaction; these transfers are facilitated via using public and private keys for security functions. These fund transfers are executed with minimum processing prices, allowing users to keep away from the steep fees charged by maximum banks and monetary institutions for twine transfers.
Valuable to the genius of bitcoin is the blockchain it uses to store an internet ledger of all the transactions that have ever been carried out using bitcoins, imparting a statistics structure for this ledger that is uncovered to a restricted hazard from hackers and can be copied throughout all computers running bitcoin software. Many professionals see this block chain as having important uses in technology, which includes online voting and crowdfunding, and major monetary establishments along with jp morgan chase see capacity in cryptocurrencies to decrease transaction fees with the aid of making fee processing greener.
But, because cryptocurrencies are virtual and do no longer have a valuable repository, a digital cryptocurrency stability may be worn out by a laptop crash if a backup copy of the holdings does no longer exist. When you consider that charges are primarily based on deliver and call for, the price at which a cryptocurrency can be exchanged for another forex can differ widely.
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