An European crypto exchange platform, Blockchain.io, said that it will continue collecting accounting records which bring peace and safety to customers with legal certainty and compliance with international laws. It also expects to be free from governmental officials’ disturbance toward its customers’ assets. Moreover, the platform intends to provide “reliable infrastructure” with minimum downfall for database migration, server maintenance, application upgrades and resistance to fluctuation.
The distinctive point will be that its exchange will be free from “technical debt”. Technical debt is where a system is weak to resist from bugs and security alerts due to new features or altcoins addition which are not tested properly because of their delicate software design. Currencies will be listed on Blockchain.io after they have passed all process to prove certainty and security by experts who are able to ensure deep protocol review. The exchange mentioned that at least 98 percent of its reserves is stocked in cold wallets which require several signatures to open due to a high security purpose.
The platform is considering about publishing various types of trade order. Users will take advantages from a peer-to-peer lending service with possibility of borrowing “centralized inventory of cryptocurrency funds” managed by Blockchain.io. All transactions will include interest which is based on supply and demand.
The company specified that its exchange will allow “advanced cryptographic protocols” to make centralized trading possible in decentralized settings – removing privacy, quantifiability and cost issues which have influenced the original Bitcoin blockchain.
Blockchain.io is also planning to provide legal, marketing and financial professionals to consider ICOs. After consult with the company’s team, projects will be elected and approved by the exchange’s community. The company will apply strict criteria to possible projects. Furthermore, the team for ICO should be expertise in order to satisfy legal terms. Once all these requirements reach the standard, the company will build the whole operation and charge a cost for the funds which are raised during the token sale.
Blockchain.io has rooted from Paymium.com – a company which considers itself as “one of the oldest Bitcoin exchanges in the world”. Paymium mentioned that at least 170,000 existing accounts will be transferred to Blockchain.io when it starts the service and gain profits from incentives will be decided by the new crypto trade. Blockchain.io will start its sale on September 27, 2018 and continues till November.
Author: Jieun Lee