About ParamountDax

STARTER INFORMATION

In recent times, the number of cryptocurrencies and exchange platforms are increasing each year. Currently, there are 190 exchanges, compared to 70 exchanges three years ago, on 15 March, 2015. Demand to buy and sell is also growing as the number of cryptocurrencies and trading platforms increase.

There are currently 1,568 different cryptocurrencies available, as at 21 March, 2018. This breaks down to 654 tokens and 914 coins. It all started with bitcoin, which was first released on January 9, 2009, and various versions launched in the following years. The first experiments in altcoins started happening in 2011 with Namecoin, iXcoin, SolidCoin and others being developed and released. Litecoin followed soon after in the same year.

While this revolution is gaining wide acceptance, ParamountDax, a fully developed from the scratch, ready-to-use product implemented as a modern-age crypto trading exchange has arrived.

But before we go any further, please check out this video presentation to get even more acquainted

Now that I have your attention, let’s get right to it.

What exactly is ParamountDax?

As depicted above and as indicated on the official website of ParamountDax, ParamountDax is a fully developed from the scratch, ready-to-use product implemented as a modern-age crypto trading exchange. It aims to revolutionize cryptocurrency trading by serving as an ideal platform for crypto-to-crypto and crypto-to-fiat trading while also solving the issues faced by today’s crypto industry. ParamountDax aims to provide a sophisticated trading platform that really caters to the needs of the crypto community by offering intuitive user interface, instant liquidity, multilingual and real-time customer support and by enabling seamless, secure and riskfree trading opportunity at minimal fee.

ParamountDax allows you to manage all your digital assets effortlessly in a trading exchange that offers you:

Seamless, secure and risk-free trading opportunity at minimal fee

Intuitive user interface

Instant liquidity

Multi-lingual and real-time customer support.

The team envisioning ParamountDax as one of the fastest exchange, payment transfer and peer-to-peer transactional networks in the world – from the current 10,000 transactions/ second ParamountDax supports, we’re improving to 2,000,000 transactions/second by adding cloud hosting and load balancing of each blockchain node separately into the network.

The ParamountDax wallet is made to support swift management of your crypto trades. For that, we created a platform that includes:

Over-the-counter (OTC) trading: the first OTC crypto trading desk in Europe, ParamountDax enables seamless operation of large crypto assets without the need for an escrow or a lawyer. Institutional trading made easy

Dedicated trade indicator that tracks and assists you with any profit or loss real-time data you need.

46% Daily Profit Share

Stop limit options and stop loss orders that empowers you to take more efficient decisions

Custom API allows the platform to benefit from continuous improvement from third-party developer contributions.

Customizable dashboard

Strong referral benefits

The Solution Offered

Security issues solved follows a two-way approach to ensure the security of both users and the exchange.

The steps are:

Ensuring user security

Ensuring exchange security

User security

Some of the protocols for user security are:

Two-factor authentication

In order to log in to the ParamountDax website, a user won’t be allowed simply through a ‘login + password’ access type. ParamountDax will enforce a secure 2FA protection for the client. By default, weak 2FA like OTP/Google Authenticator / SMS won’t be authorized or will be only temporarily tolerated, since these methods are vulnerable to phishing attacks. This way, similar attacks to the one on Ether Delta will be avoided.

Password strength assessment

In order to ensure the password remains as strong and difficult to guess as possible, users are allowed to generate passwords that exceed the minimum of 8 characters. Moreover, passwords have to be a combination of case sensitive letters, numbers, and special symbols.

Account creation email

A user needs to verify their account via the email that he/she has signed up with. This ensures that in the future, a user will be able to recover their account if they have forgotten their login ID or password.

IP address verification through email

A user logging in to their account is allowed to access their account only when they are logging in from a verified IP address. For a new IP address, the user needs to confirm via a confirmation link emailed to their verified email (the one the user account has been created with).

IP address validation on withdrawal

For every new withdrawal, a user needs to validate their IP address through the registered email.

Email notifications

For every login, successful or not, a user is notified via email. Similarly, a withdrawal is also notified via registered email.

Exchange security

Secured protocol

ParamountDax has implemented security protocols such as: Secure Header on HTTP Request / Response such as: X-Frame-Options, X-XSSProtection, HTTP Only, Set Secure flag.

CSRF protection

Cross-Site Request Forgery (CSRF) protection for victims of fraud will be reported to the Administrator.

Avoid suspicious

Suspicious users will be prevented by the xss-clean method which also prevents the malicious file from uploading.

Authentication & detection

Authentication & Detection will be provided by ParamountDax to make the transaction fulfilled by the participators to the trade.

Prevent DDoS attacks

The DDoS attacks can be prevented using periodic penetration testing, Custom WAF rules, security notifications, etc.

Secure web services

ParamountDax will offer a highly available and customized DDoS shielded hosting solution with network and application-level firewalls. ParamountDax will use secure HTTP headers like HSTS to enforce TLS encryption, and keep the passwords salted and hashed.

Security audits

In order to ensure maximum security of the exchange, ParamountDax will conduct a periodic security audit so that vulnerabilities are avoided. For trader’s patience, we will sign a regular contract with some External Audit Agency. The name of Company Audit will be communicated soon through official ParamountDax social media channels.

Liquidity offered

In order to solve the liquidity issue and allow users to instantly trade their digital assets, ParamountDax will be adding its order book to a collective pool server—an order book shared among various crypto exchanges. This way, even if there isn’t enough liquidity on the exchange, it will get available through the collective pool. This enables users to quickly transact their trades.

Token Details

Pre-sale token supply: 25,000,000 PRDX

Token supply: 40,000,000 PRDX

Total tokens for sale: 75,000,000 PRDX

Soft cap: 1,750,000 USD

Hard cap: 9,310,000 USD

Ticker: PRDX

Type: Utility-token

Token standard: ERC20

Token price in USD: 1 PRDX = 0.15 USD

Accepted currencies: BTC, ETH, USDT, B2BX, DASH, LTC, NEO, XRP, PAX,BNB (EUR / USD)

Blockchain Platform: Ethereum

Country limitations: USA

Registration country: United Kingdom

Registration year: 2017

Office address: Paramount Blockchain Ltd :

Unit 3 Merchant, Evegate Business Park, Ashford, Kent, England, TN25 6SX

Company number 11357138

Token Distribution

2% Bounty Bonus

10% Angel Investors

65% ICO Participants

23% Team

Funds Usage

22% Initial Development Cost

12% Liquidity Reserves

11% Team and Advisory Board

33% Marketing

22% Emergency Reserves

ROADMAP

Q3-Q4 2017

Idea conceptualization and research.

Team hiring

Q1-Q3 2018

Team expansion.

Wallet development started

Q3-Q2 2018

Platform Development started

Q3-Q4 2018

PRDX campaign initialize.

Website launch.

Smart contract and token creation

Q1-Q2 2019

Pre ICO Sale.

Community development started.

Whitepaper release V.1.6

Main ICO sale.

Participation in major crypto and blockchain events and conference

Q3 2019

Token release

ParamountDax exchange release

Q3-Q4 2019

iOS app development started

Android app development started

TFC (trading from chart / advanced) release

Hiring product designers and community managers

Wallet release

Release of multi token supported Smart PRDX wallet

Q4 2019

Mobile version release IOS/Android

Q1-Q2 2020

Merchant agreements

OTC section release

Q3-Q4 2021

Dedicated blockchain release

Decentralized exchange release

MEET THE AMAZING TEAM

Roberto AL Hunaiti: CEO

Fabio Doria: CTO/UX Designer

Vijay Sharma: Marketing Manager

Andrey Romanov: Community Manager

Massimiliano Zanotelli: Maintenance Director

Cosmin Harangus: Technical Advisor

Darius Cupsa: FullStack Developer

Advisors

Cosmin Harangus

Technical Advisor

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

Website: https://www.paramountdax.io/

Whitepaper: https://www.paramountdax.io/whitepaper.pdf

ANN Thread: https://bitcointalk.org/index.php?topic=5137789.0

Telegram: https://t.me/ParamountDaxICO

Facebook: https://www.facebook.com/Paramountdax-2024636494500768/

Twitter: https://twitter.com/ParamountDax

Medium: https://medium.com/@paramountdax

Reddit: https://www.reddit.com/user/ParamountDax

Author: Cryptoholical

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106

 

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.

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