How a new Exchange Platform, Streamity plans to Disrupt the Cryptocurrency Exchange Ecosystem
Jan 10, 2018 Posted / 1785 Views
News of millions of ethers stolen from a wallet and smart contract algorithm played around with leading to hundreds of millions of dollars locked for ever has marred the cryptocurrency ecosystem in recent month. The need for a dynamic and secured exchange platform with the most complicated security features yet the most user-friendly interfaces has become vivid to every cryptocurrency users. In cryptocurrency online forums and groups is very common to find users complaining for an exchange platform including well established originally trusted ones.
It is clearly observed that the available cryptocurrency services are failing to catch up with the user demands. Let alone the inflexibilities and expensive fees users have to pay to convert between the major cryptocurrencies and alt-coins.
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A new project, streamity claimed to have researched the existing market condition and built its platform to address the issues most exchange platform is currency failing at. Streamity is developing decentralized P2P cryptocurrency exchange powered by it’s very own STM tokens. STM tokens will be used to carry out all transactions in the streamity exchange platform. The project starts its pre-ICO in about 18 days and be launched after it completes it’s ICO April this year.
Just like all the other major exchange platforms, streamity also deploys and Peer-to-Peer exchange strategy. It’s become very common recently to pay exchange fees of more than $19 just to deposit fees on a localbitcoin.com account. This means it’s impossible to send small transactions now because the transaction fees will consume the entire transaction value. This is against the initial goal of developing cryptocurrency in the first place. Cryptocurrencies are supposed to allow sending of micro transactions at very small fees to any part of the world at any time.
Streamity’s approach prevent any future variations and escalations of transactions fees is by setting a prior fixed transaction fees of up to 2% of the transaction volume. Meaning only a $2 fee is paid for a $100 transaction which is quite low compared to what other platforms are currently charging. With a fast transaction propagation speed achieved by removing unnecessary intermediaries in the transaction chain, streamity could achieve an instant transaction propagation from one node to another.
Cryptocurrency users are in a constant demand for a better and improved services, people are going towards and instant transaction capabilities where funds can be wired around the world within seconds. With the development of ever improving smartphones with enhanced security features like figure print sensors and eye scanners, majority of cryptocurrency users are turning to mobile based wallets to store their funds.
Streamity plans to provide a mobile application for its platform fully fledged with industry standard security features to provide the best level of flexibility to its users. In our opinion the streamity team are ready to do what in takes to champion the drive towards the cryptocurrency exchange platform of the future. Lets wait for their launch and we see how far they can surprise users with the most astounding exchange amenities.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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