In the ecosystem of cryptocurrency exchange today, there exist two kinds of exchanges – centralized and decentralized exchanges (CEX and DEX). Centralized exchanges require a third-party or a middleman to keep it operational while the decentralized is a peer-to-peer system of operation void of a third-party. DEX is seen to be more secure, transparent and fast compared to CEX which can be manipulated by an external force or authority.
Centralized exchanges mostly necessitate users to place their private keys on the platform, trades (buy and sell order) are directed to a third-party, thereby placing the user assets at risk – middlemen are defenseless to government influence and hacking attacks. Centralized exchanges have been in existence and is seen to be the standard in the actual world, away from coins, tokens and distributed ledgers. Some of these exchanges like NASDAQ, NYSE allows the trading of stocks and similar digital asset, liquidity, and have provided low latency (quick processing of orders), and tools like marginal, and high-frequency, trading which has attracted participation from individual and institutional investors, the latter contributing to even more liquidity. CEX lacks transparency, trust, and security putting investors and traders in high risks – investors losing hundreds of thousands of dollars because they lost the private keys to their hardware wallet, vulnerable to hackers, frequent DDoS-attacks, unable to instantly get access to funds because of the technical activities performed within an exchange platform and countless challenge that give rise to insecurity, inconveniences and endangering users assets.
Decentralized Exchanges, permit users to retain much of their confidentiality by retaining complete control of their private keys. DEX operates on a blockchain technology and a smart contract that makes it extremely difficult to subject them to any form of government regulation that necessitates CEX to amass information on their users. Decentralized exchanges do not hold buyers, sellers or investors assets, which implies that they are not as defenseless to hacking, providing more security incomparable to CEX coequals. Owing to rate-restricted trading APIs, non-real-time transaction authorization, and deferred order book updates, traders are unable to trade in real-time. Blockchain technology has changed the ecosphere of investment endlessly which has led to ICOs proven to be secure and successful resources of financing companies and projects.
XCRYPT is the first crypto ecosystem with extraordinary added value with their core focus in its exchange – hybrid, equipped for securities and for a marketplace built for the ERC-721. They developed an end to end system which comprises a debit card and a social platform for users to interrelate and build a robust community. The xCrypt ecosystem is built in order to make sure that all of its segments can function both as an individual and autonomously. Their core purpose is to revolutionize the world of cryptocurrencies by means of their network. With the help of their network, various services will be accessible by users to take advantage of, providing noteworthy ecosystem for growth.
The xCrypt project is engrossed on building a prevailing cryptocurrency exchange that embraces a broad variety of services. Their objective is to make certain that users can profit from the advancement in the cryptocurrency market, while alleviating risks arising from cryptocurrency ownership, transfer, and exchange. The exchange will make available a considerable and user-friendly interface with innovative graphs, quicker service without delaying orders or withdrawals, robust engine which can handle existing and future market demand without faltering. The platform aims to provide a more vivid presentation of important market data, zero charges of transactions, debit card and mining processes, together with an impartial, transparent, and secure exchange.
xCrypt will be an essential ecosystem in the associations amid the new blockchain based, decentralized financial organization and future everyday life by bringing together the cryptocurrency mining operations industry, digital asset trading and network marketing under the same roof. Their main concern is those of listing security tokens, having a suitable and strategic marketplace for the ERC-721. They also aim to carry out continuous innovative in associations with the ICO, reward its community with a zero fee exchange, linking it to the other members via the social media platform and monthly remunerating its holders via airdrop through a ranking system as shown below:
XCrypt is a trading platform built to exchange and trade the coins in a peer-to-peer atmosphere. The Exchange Platform will support all top 100 cryptocurrencies and various fiat Currencies.
ADVANTAGES OF USING XCRYPT PLATFORM
- It is a fully compliant trading operations
- It is dual exchange platform – Centralized & Decentralized Exchange Platform
- You can withdraw FIAT from cryptocurrencies
- You can store FIAT and cryptocurrencies on the platform
- The platform supports both ERC-20 and ERC-721 tokens
- It provides all users with a zero fees transaction.
The platform is 100% encrypted – all private keys for xCrypt wallet are encrypted with AES-256 and are also stored offline, 99.5% of the user's assets are preserved in a cold storage with multi-signature technology, an advanced distributed system structural design created to secure against DDoS to make sure trading can never be terminated by external attack, data via website is transmitted using encrypted transport security (TLS) networks, and cryptocurrency security standard (CCSS) is used to secure all information systems that utilizes cryptocurrencies.
- It is a multi-language platform
- The platform is integrated with a custom built bot trading system
- The platform also supports security tokens.
THE HYBRID EXCHANGE
This exchange provides a trustless, real-time, and high-throughput trading experience in combination with a blockchain based settlement. As a result of centrally managing trade matching and Ethereum transaction dispatch, the hybrid exchange empowers users to trade constantly without waiting for transactions to mine, fill various orders at once, and revoke orders immediately without gas charges. In this platform, the maker and taker have to deposit their tokens into the xCrypt contract, and the database is updated to take account of the customer addresses and token balances, thereby allowing the maker to create and submit a signed order that comprises the important trade data. The system checks and authenticates that the maker's account has adequate funds and that the signed transaction matches what was submitted to the system. When all details are confirmed, the order is added to the order-book. This then allows the taker to submit a matching order, authorizing a transaction with the same price as the target order and an amount not as much or equal to it. The system will the authorizes that the maker's account has enough assets and that his authorized transaction matches what was submitted to xCrypt. When the system confirms all last submitted details, the trade is marked as corresponding thereby updating the order-book to mirror the new balances. This enables the buyer and seller to continue to make new trades based on these updates. Instantaneously, the authorize order is then added up to the queue to be transmitted to the Ethereum network for processing. When all trades have been mined, the transaction is posted to the blockchain, and the transaction will be mined and update the contract balances to reflect the trade.
THE XCRYPT APPLICATION
xCrypt Social is both timeline and messenger with a platform for future technology fans that enables the users to chat and interrelate with their friends, investors, experts or even the companies CEOs.
From novice to veteran, any person can be the part of xCrypt Social and can get benefits from the experiences of like-minded people. A user can share resources, information and also can place ads on the platform.
the xCrypt token "XCT" is utility token standard ERC-20 that will be used across the platform. Holders of XCT is rewarded via airdrop ranking system. It is used to purchase a prime membership, to participate at the partner ICO's RCs with huge bonuses, to pay the exchange's DEX system charges, to pay the debit card's charges, and to buy PRO membership for its social media. You can buy and sell xCrypt token with FIAT (government issued currencies) currencies and alternative cryptocurrencies.
TOKEN FULL NAME: XCRPT
TOKEN TYPE: ERC-20
TOTAL SUPPLY: 200,000,000
SOFT CAP: 7MILLION
HARD CAP: 75MILLION
TOKEN VALUE: 1 XCT = 1 USD
UNSOLD TOKEN WILL BE DESTROYED
KEY BENEFITS: UTILITY TOKEN
PRE-ICO 50% BONUS: 30.000.000 XCT
STAGE 1 - 30% BONUS: 25.000.000 XCT
STAGE 2 - 20% BONUS: 25.000.000 XCT
STAGE 3 - 10% BONUS: 25.000.000 XCT
STAGE 4 - NO BONUS: 25.000.000 XCT
INITIAL TOKEN DISTRIBUTION
PARTNERS AND ADVISORS: 8%
PROJECT TEAM SHARE: 15%
BONUS AND RESERVE: 9%
PUBLIC TOKEN SALE: 65%
ECOSYSTEM DEVELOPMENT: 52%
FINANCIAL OVERHEAD: 4%
IT INFRASTRUCTURE: 10%
LEGAL AND REGUATORY: 19%
Q4 – 2017: XCRYPT PREPARATION AND PLANNING
Q1 – 2018: TEAM PUT TOGETHER
Q2 – 2018 (A): PREPARING FOR ICO
Q2 – 2018 (B): ATTRACTING MEDIA AND ADVISORS
Q3 – 2018 (A): SETUP LOCAL OFFICES AND PRIVATE SERVERS
Q3 – 2018 (B): HIRE 3 SEPARATE TEAMS OF CODERS
Q3 – 2018 (C): SOCIAL MEDIA PLATFORM + APPS
Q4 – 2018 (A): (DEX)DECENTRALIZED EXCHANGE PLATFORM
Q4 – 2018 (B): TESTING BETA DEX PLATFORM
Q1 – 2019: (CEX) CENTRALIZED EXCHANGE PLATFORM
Q2 – 2019: DEBIT CARD INTEGRATION
Q3 – 2019: MARGIN TRADING/ LENDING