With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.
While this revolution is gaining wide acceptance, Volentix introduces a digital assets ecosystem (DAE) incorporating a decentralized digital assets exchange connected with a secure multi-currency cross-blockchain peer-to-peer wallet, a user-friendly market-ratings analytical interface, and an incentives-based recruitment program.
On a global level, the average digital asset trading volume more than doubled from $2.4B/day in 2017 to $5.0B/day in 2018. However, in the US, trading volume declined from $800M/day in 2017 to $750M/day in 2018.
Looking at the change from Quarter to Quarter, the picture is even grimmer for the US. In Q4/2018, the US only accounted for 7% of global digital asset trading making it the 6th biggest market in the world. The significance of this drop becomes clear when looking at Q2/17 when the US had a global market share of over 50%. This declining impact of the world’s biggest economy in global digital asset trading leaves the prices of Bitcoin and other cryptocurrencies at the mercy of non-US countries and is likely to put the remaining hopes for a quick approval of a Bitcoin ETF to rest.
While the US’s market share is dwindling, exchanges originating from China were able to increase their market share from 6% in 2017 to 22% in 2018. The world’s biggest digital asset market by volume is now Hong-Kong with a market share of 29%. South Korea, one of the former powerhouses of crypto, lost 9% of its market share from 2017 to 2018 but is showing strong signs of recovery in the last quarter of 2018.
With that being said, Volentix empowers users to trade across any blockchain simply, safely and without middlemen.
Now that I have your attention, let’s get right to it.
What exactly is VOLENTIX?
According to the official website of Volentix, Volentix introduces a digital assets ecosystem (DAE) incorporating a decentralized digital assets exchange connected with a secure multi-currency cross-blockchain peer-to-peer wallet, a user-friendly market-ratings analytical interface, and an incentives-based recruitment program.
In addition, the Volentix ecosystem will exist atop four pillars, an initializing array of applications specifically known as Venue, Verto, Vespucci, and VDex.
These pillars include;
Venue is planned as a dynamic community platform that recruits and aligns members of the Volentix community to facilitate distribution of VTX, the native digital asset of the Volentix ecosystem, and to promote awareness of Volentix initiatives. Recently launched in beta testing, Venue enables users to receive VTX in exchange, for example, for participating in developing dedicated communities, submitting bug fixes, and claiming bounties.
Verto is being built as a multi-currency wallet for use with the VDex decentralized exchange and intends to facilitate personal custody and local management of private and public keys in peer-to-peer transactions, with the goal of eliminating the risks of devastating losses of stake associated with traumatic failures of central operators. Verto plans to employ a system of smart contracts to maintain the state between two trading clients, the simplest operations being accomplished with atomic swaps.
Vespucci is envisioned as an analytics engine accessible via a user-friendly interface with treasure troves of real-time and historical market data, such as digital assets ratings and sentiment analyses. Volentix wishes to empower users with tools to graph and compare tradeable digital assets, to access and parse historical trading records, to plot trends and patterns, and to monitor and assess open-source software developments. Vespucci seeks to bring to your fingertips confident and comprehensive market-relevant data by aggregating the information currently scattered throughout many different blockchains, websites, chat rooms, and exchanges.
The fourth pillar of Volentix, the VDex exchange, is the tradable digital assets platform. For smooth and secure usability, Volentix plans VDex to integrate with your own personal Verto wallet and Vespucci interface. Volentix expects VDex to be able to manage transactions involving both VTX and the vast array of digital assets and blockchains extant from time to time throughout the world. The Volentix team are developing Venue as a complementary adjunct primarily in order to incentivize and drive native VTX-based initiatives.
EOS.IO is designed to make Inter-Blockchain Communication (IBC) proofs lightweight. For chains with insufficient capacity for processing the IBC proofs and establishing validity, there is an option to default to trusted oracles/escrows. With an EOS.IO-based smart contract, a trusted multi-signature wallet holding the asset in escrow can be used to persuade the signing/publishing of the transaction based on IBC proofs from the originating chain. Comprehensible multi-blockchain information can be obtained by aggregating blockchain timelines in parallel order (with variance in the frequency of change of state).
This system can trigger multi-chain load balancers, transfer states, draw data outputs from smart contracts, and foreign blockchain transaction execution. Relative block distance, relative global state, and timestamped events are recorded on a global ledger to optimize and confirm transactions before they actually happen on the native chain. This approach could also be used to determine block production coincidence between chains to access greater liquidity.
The Volentix platform utilizes some features of EOS.IO System features in checkmating the security challenges affecting traditional exchange platforms:
Malware detection by auditing processes
Random diversification- that’s by toggling of protocols is a level of complexity
Multiple factor identification
Ensure inspection of logs as control.
Prevents a replay of a transaction on forks that do not include the referenced block
If a block producer takes an unreasonable amount of runtime or is not profitable enough, the process is blacklisted.
Deploy a custom contract that only accepts deposits of known tokens from KYC’d accounts
All accounts must only read and write in their own private database
About The Volentix(VTX) Token
VTX is not an Erc-20 token but was built on customized open-source eos.io technology. Transaction run faster on this chain and very effective for processing. The VTX is the utility digital asset for this platform and will be spendable on VDex decentralized exchange.
Token Sale Details
The sale of VTX token has been schedule to starts by February, 2019, and it will be open until the hard cap is reached.
The minimum of VTX individual can purchase is 1 btc or equivalent in other currencies accepted via their payment gateways Zixipay and Blocktopus
Restricted Countries - The United States and Chinese indigen are restricted to buy the VTX token.
PreICO price: 1 VTX = 0.17 USD
Price in ICO: 1 VTX 0.3300 USD
Accepting: BTC, BCH, EOS, ETH
Soft cap: 3,000,000 USD
Hard cap: 48,500,000 USD
There is also a 200 VTX bonus currently available simply for successfully completing the whitelist approval process.
Total Supply: 800,000,000 VTX
Available token for Supporter: 65,000,000 VTX
Total token for sale: 364,000,000 VTX
Hard Cap: $48,500,500
Total token 455M VTX for public treasury: 455,000,000 VTX
Total token for contributors, supporters, and facilitators. : 286,000,000 VTX
Total token for future participation by contributors and facilitators of the Volentix ecosystem: 130,000,000 VTX
The VTX are “time-locked”, which means not all will be release on time but will be release in future.
The Utilization of the VTX Tokens
The VTX is an utility token for Volentix ecosystem.
The VTX will be used for rewarding participants in the consensus process and in Venue campaigns.
The VTX token wi be used for paying transaction fees on the VDex exchange.
Holders of Volentix will have the permission to submit and vote on proposals to the Volentix ecosystem.
The VTX token will be used for staking support for reviewing proposals and implementing projects.
The VTX token will be used for incentivizing users to participate in order book settlement by becoming nodes via their Verto wallets.
MEET THE AMAZING TEAM
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
ANN THREAD: https://bitcointalk.org/index.php?topic=5048597
Bounty0x Username: TheMichaelMatch
My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035