We live in a world of innovation, where our society is pushed forward by finding solutions to existing problems. The need of an existing medium of exchange led to the apparition of bartering, when people would change one product for another. This system was later improved when people started using cowry shells, metal coins and paper money.
Centuries later, in 1800 AD, an innovative concept combined the best aspects of paper money with those of coins and it allowed central banks to create money backed by precious metals. The desire to create a better system led to the creation of Credit Cards in 1946 AD and the need for faster transactions let to the apparition of Electronic Money in 1990 AD.
In 2008, Satoshi Nakamoto posted a paper titled “Bitcoin: A Peer to Peer Electronic Cash System” which ultimately led to the apparition of blockchain and cryptocurrencies. They needed a place where people could safely trade them and so, exchanges emerged. However, existing exchanges are flawed and there is still a lot of room for improvement.
A new project built on top of Ethereum blockchain comes with a mind-blowing innovation that will redefine what we know as cryptocurrency exchanges.
Meet Crypto Circle Exchange
According to their White Paper, Crypto Circle Exchange is a customer oriented platform, powered by a cutting edge technology that is capable of over 10 million transactions per second. At its core, Crypto Circle Exchange is a revolutionary cryptocurrency and blockchain asset exchange focused on speed, safety, scalability, and customer support.
Since the emergence of the first cryptocurrency a decade ago, an industry has slowly started to form around it, with more tokens and coins entering the market each month. The only way to start trading them is through a cryptocurrency exchange. However, because this is still a young industry, there are a lot of problems that can be encountered. In the past years, a lot of existing exchanges got hacked because of the poor security they provided and a lot of unfortunate traders lost cryptocurrency assets. Aside from this, another crucial issue is the one of poor liquidity, with the crypto market unable to handle large orders without changing the value associated with the currency involved. This is the main reason why cryptocurrencies have such an increased volatility that ultimately affects us all.
Transactions have a slow processing time during high trading volume and high trading fees between 0.25% and 0.3% when processing any transaction that is taken from both parties involved in the transaction.
One of the most known problems is the lack of proper customer support that ultimately caused many traders to lose investment opportunities. When dealing with a volatile market, speed is crucial and when encountered errors on a platform, it is vital to have access to proper guidance and support.
Crypto Circle Exchange comes with a different approach by building an entire ecosystem centered on the needs of the traders. They will have multiple security featured for their users, such as CloudFlare protection to defend against DDoS, sensitive data with AES 256 encription, 2FA Google Authentificator, tokens secured with offlime multi-signature wallet, a vault system for asset protection. For their customers residing in EU member state, the exchange platform is fully GDPR Compliant.
The exchange platform is developed in the GoLang programming language, an extremely fast and capable of processing millions of transactions per second with 40 nanosecond latency. This cutting edge technology will enable over 10 million transactions per second.
To ensure the stability of the market, the exchange platform’s real-time market surveillance, supervision, and compliance system monitors for suspicious trading activity such as abnormally large trades, pass-through trades, wash trades, spoofing, layering, stuffing, hammering, and momentum ignition.
This exchange comes with a fair trading fee of 0.2% transactional fee, A.I. bot, auto-trading tools professional charts with technical analysis, trading alerts, and many other helpful resources that will help their users in their trading process.
To support the new traders, Crypto Circle Exchange will provide helpful resources, such as video and written tutorials and 24/7 professional live chat support.
A working demo of the exchange will be released in Q4 2018.
Crypto Circle Exchange will issue its own token called Crypto Circle X Coin, with CCX as the symbol. CCX is an ERC20 utility token running on the Ethereum blockchain that will lower transactional fees to 0.1% and it can be used by both participants in the trading process. The token can also be used to enable premium features, such as A.I. bot, technical analysis charts and many others.
Crypto Circle Exchange is currently undergoing ICO, and you can be a part of this amazing project from its early stages and purchase their tokens with Ethereum at a discount price from their official website. The soft cap is 3 million USD and hard cap is 20 million USD.
The total supply of CCX is 300,000,000 and 223,000,000 CCX can be purchased during their ICO.
A unique and promising aspect is that, unlike other projects, Crypto Circle Exchange is not starting from big business with the help from fortune 500 companies or any kind of big backers. Crypto Circle X is created by regular working people that are doing their best to bring a stable and useful product to the market so that normal people can invest without fears of market manipulation, pump and dumps and also have a fair chance to make money. Basically, it created by the people, for the people.
Their CEO and Founder, Jay Park (박정원), is a serial Entrepreneur and Bitcoin Enthusiast that has over 18 years of experience in multiple industries, including the IT sector. He is a motivated and driven business executive who had outstanding success managing software ventures, product development, business growth and cross-functional leadership for both start up and established high-tech companies, which also includes the Fortune 100 companies.
The COO and Co-Founder is Alexandru Crucean, an economist with over 8 years of experience in sales, marketing strategy and finance. He discovered the Blockchain technology in July 2016 and started investing in Cryptocurrencies and ICOs and has encountered firsthand the problems when trading on existing exchanges.
In conclusion, Crypto Circle X is a solid project, backed by honest team that plan to be the change they hoped to see in existing cryptocurrency exchanges. Their experience and determination will bring the crypto industry to a complete new level, by delivering a revolutionary cryptocurrency and blockchain asset exchange focused on speed, safety, scalability and professional 24/7 customer support.