Cryptocurrencies are digital financial assets that are designed with the purpose of acting as a medium of exchange using the science of cryptography to secure transactions, create global currencies, eliminate government control and exchange rate issues, and control the creation of additional units of the currency. Cryptocurrencies were introduced as a disruptive financial technology (fintech), which would make global transactions easier, faster, and more secure, putting control directly in the hands of the concerned parties. This could also eliminate banks and money transfer services. But virtual currencies also face some serious security concerns and risks, such as the safety of wallets, double-spending, growing vulnerability to orchestrated attacks on Bitcoin exchanges, and fears of rogue miners engaging in selfish mining.
As cryptocurrency continues to become more mainstream and consumer demand grows, banks and regulators are being forced to adapt to this new form of trading. At the same time, the exchanges know the need for the highest safeguards and standards possible required to gain trader trust and adoption at increased rates. With concerns about cyber security at an all time high, it’s natural for investors and consumers to worry about money that exists solely as digital code.
What is ECX?
ECX is a new decentralized encrypted currency trading platform with zero (0%) percent trading rates. ECX has a very simple business model: zero trading fee in each order. The platform allows peer-to-peer (P2P) trading, allowing ERC20 tokens to be traded directly from users’ wallets. The platform does not store users’ private keys, preventing the loss of user information. In addition, it prevents third parties from performing a fraudulent exchange between users, as smart contract switching allows only signed orders.
The growth of the cryptographic market has increased the growing concern about security. The cryptocurrency economy is currently filled with giant monopolies, and decentralized exchanges have a poor reputation of being slow and confusing to use. Traditional banks have been skeptical of cryptocurrencies, but that hasn’t stopped dozens of cryptocurrency trading platforms from popping up. Most of these exchanges lack standard security and investor protections. Aside from their volatility, cryptocurrencies come with other risks. Since cryptocurrencies only exist as virtual files, they can be lost in computer crashes if backup copies aren’t available. They can also be hacked. Dozens of bitcoin thefts have been recorded so far with losses totaling in the billions of US dollar. Despite these drawbacks, the allure of trading is worth the risks for many people, so the relative values of cryptocurrencies keep climbing. But this also brings about more concern about security and trading rates.
ECX Exchange (ECX) aims to combine the performance of centralized exchanges with the trust and security properties of decentralized exchanges, while offering security and stability to zero-trading users. ECX is also as fast and simple as a centralized exchange. Peer-to-peer trading allows traders within ECX exchange to trade directly with each other, removing the “middleman” and allowing you to trade without ever losing control of your funds. You can trade your ERC20 tokens directly from your wallet. To ensure that no third-party can execute a fraudulent trade between users, the trade method of the exchange smart contract will only accept orders signed by a private key held by the matching engine. To exchange tokens, you will need to have 100 ECX in your wallet. This way, the use of bots of software in the network will be stopped, avoiding unfair trade in Exchange.
ECX Exchange is undertaking ICO at the moment, until June, 29. ECX is the symbol of its token. It is an ERC20 Token and the exchange value is 10,000 ECX =1 ETH.
The contract address is: 0x430ca678e49327c5b3fad98ba80e0d67922c031d.
300 ETH is the Soft Cap, and 43.310 the Hard Cap. The plan is to sell 429 million tokens to the public, of a total pool of 700 million tokens.
Sergio Alves, the CEO and Founder of ECX exchange, has been an entrepreneur for more than 8 years. He is a cryptoevangelist, passionate about technology, design, architecture, and blockchain technology. Henrique Santana is the Lead Developer and Co-founder. He works in systems development and he is a blockchain enthusiast. They work with a team of international experts in marketing, blockchain technology and digital influence.
Decentralized exchanges are the future and represent the values of the blockchain. ECX Exchange addresses some of the greatest issues of cryptocurrency markets, and comes with a simple and easy to understand message: zero trading fee + amazing service = customer satisfaction. The large number of happy customers will generate larger trade volumes, which will also result in a greater appreciation of the ECX token. Further information about this project can be found here: White paper, website.