Last Updated on July 22, 2020 by CryptoCreed
In the times that we’re living in, technology has made unbelievable advancement as compared to any time in the past. This evolution has redefined the life of man in almost every aspect. In fact, this evolution is an ongoing process and thus, human life on earth is improving constantly day in and day out. One of the latest inclusions in this aspect is cryptocurrencies.
Cryptocurrency is nothing but digital currency, which has been designed to impose security and anonymity in online monetary transactions. It uses cryptographic encryption for both generate currency and verifies transactions. The new coins are created by a process called mining, whereas the transactions are recorded in a public ledger, which is called the transaction Blockchain.
xChainge is an Ethereum blockchain based platform with a simple user interface for anonymous and decentralized exchange of assets. It allows conducting simple P2P exchanges, making adaptable shrewd contracts which help execute complex exchanges and trade on custom xChainge marketplaces that guarantee transaction speed equivalent to that of centralized exchanges. All the usefulness is accessible from a single application available on multiple platforms, designed with UI/UX of the best modern online banking applications in mind.
The mission of the xChainge team is to bring the traditional financial world and the cryptoeconomy together through its technology. The solution developed by the xChainge team will enable clients to trade their assets in a safe decentralized way where the only entity in control of the assets is their owner. The other huge feature of the solution is the user interface which will be adequate with modern mobile banking applications and financial services. We believe that the xChainge platform will persuade many individuals to start using cryptoassets in their regular daily existence and take an interest in trading.
The platform is expected to be the flagship service and the trailblazer of the new era of decentralized exchanges. The XCH tokens are intended to be an economic incentive for clients to help the network’s transaction security mechanisms and thus grow in value as the number of clients rises.
The xChainge Wallet
The xChainge Wallet is a core component of the xChainge platform which stores digital assets of clients. We will probably make the xChainge Wallet а payment center that individuals will use to make every day transactions with XCH tokens or any cryptoassets supported in the future.
Key features of the xChainge Wallet:
The xChainge on-chain P2P stage will permit clients of the xChainge Wallet to lead on-chain exchanges of any ERC-20 tokens specifically from the wallet. This P2P exchanges approach is the most applicable for one-time exchanges which include low-liquidity tokens that aren’t accessible on prevalent trades whose costs are not subject to drastic fluctuations. It can likewise be utilized for large one-time exchange transactions involving ETH or other popular tokens. xChainge does not charge for P2P exchanges, but rather clients cause a little Ethereum network transaction processing fee.
The xChainge P2P Marketplace
The xChainge P2P marketplace will give the xChainge Wallet clients a chance to trade physical goods and offline services in exchange for ETH or any ERC-20 token. Online shops can create an xChainge Wallet and install a website extension to enable clients to pick xChainge as a payment method.
Target audience and use cases
The target audience of the xChainge platform is individuals without significant technical skills who are searching for a basic, convenient, and secure solution to store tokens, use them for payments and transfer them to other clients. Such individuals are relied upon to utilize just a little subset of the most popular tokens, e.g. ETH and use them infrequently.
The “Matcher Nodes” feature opens up big opportunities for traders to make deals both quickly and frequently in exchange for sensible charges. Traders can likewise utilize the xChainge API to direct arbitrage operations while maintaining full control over their own assets. We anticipate that these opportunities to attract a large number of traders from centralized exchanges to our platform.