What Is Xcrypt?
XCrypt is a hybrid and semi-decentralized exchange. It provides a trustless, real-time, high-throughput trading experience together with a blockchain-based settlement. By centrally managing trade matching and Ethereum transaction dispatch, the platform enables users to trade continuously with no wait times for transactions. They will be able to fill several orders at once or cancel them immediately without gas costs.
How xCrypt Works
Trading on the xCrypt platform takes in the following major steps:
- Both the maker and taker deposit their tokens into the xCrypt contract
- The system updates its database to include customer addresses and token balances
- Maker creates and submits a signed order that has the relevant trade information
- XCrypt confirms that the maker’s account has sufficient funds and the signed transaction matches the information submitted to xCrypt.
- If all the checks in part 4 are accurate, the order proceeds to order book
- The taker submits a matching order, signs a transaction with the same price as the target order, and an amount less than or equal to it
- XCrypt certifies that the maker’s account has sufficient funds and that the signed transaction matches what was submitted to xCrypt
- If all the checks in part 7 are accurate, the trade is marked as matched and orderbook updated
- XCrypt updates its database to reflect the new balances allowing both traders to continue to make new trades according to the updates. The signed order is added to the queue for broadcasting on the Ethereum network for processing
- After all dependent trades have mined, the transaction proceeds to the blockchain
- The transaction is mined and the contract balances updated to reflect the trade
What Makes xCrypt Stand Out?
The xCrypt platform embraces the following features that make it stand out:
- Fully compliant trading operations
- Trading and social trading platform
- Users can withdraw Fiat from cryptocurrencies, store fiat and cryptocurrencies, or utilize a custom-built Bot trading or Airdrop ranking system
- ERC20, ERC721 Memberships
- Zero fees and security tokens and many more
Xcrypt Airdrop Ranking System
xCrypt created a method for giving benefits to their XCT token holders, which improves the whole ecosystem in general and bring revenue to their exchange and add value to the community and their token holders.
The ICO with ERC20 often has 3 problems:
- The fundraising during the ICO phase, investors are often difficult to find its often difficult to find access to actual investor pools
- The visibility in the exchange before the listings start; this happens too often that tokens lose value once they are listed. This is due to failure to communicate their intrinsic added value to the investors
- In most cases, the token holders don’t have actual advantages in owning the tokens
XCrypt provides a solution to these problems. The developers experimented with an equation that created a point-based rank, connected to an airdrop method to reward token holders. This move could help keep the holders on the exchange and conserve them for a long time.
Xcrypt Social Mobile Apps
Once you join the xCrypt social ecosystem, it’s easy to manage everything. With a Smartphone and internet connection, you can easily participate in the global marketplace.
- Source: First Appeared Here
- Published Time: 2019-05-08 09:38:57
The views and opinions expressed in the article Safe Blockchain Project and Crypto Exchange? do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research..
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