HOW KUBITX PLANS TO FIX THE SHORTCOMINGS OF CRYPTOCURRENCY EXCHANGE ECOSYSTEM
It is great to have you again on an exciting article. There are many areas in the cryptocurrency sectors that demand attention and blockchain startups to focus and fill the gaps so the cryptocurrency community and revolution will be a huge success. It is good to work on one of the challenges currently faced in the world and see how blockchain can help solve such challenges. There are instances where blockchain startups solves shipping industry, e-commerce challenges, and environmental challenges. There are many more coming but one of the major challenge is protecting the interest of cryptocurrency investors and holders. Guess what is it? Of course there are lots of them such as liquidation, trading regulations, security problems, customer support, etc. these and many more are the reason for the birth of KuBitX ICO. There are many cryptocurrency exchange platforms but how many are addressing these challenges with sincerity. One thing is to promise to build a cryptocurrency exchange platform for holders to trade it is another to make activities transparent, efficient and safe without affecting the users’ adoption of the system. This and many more the article will strive to discuss about and KuBitX role in solving these aforementioned problems.
The Current Challenges Cryptocurrency Exchange Ecosystem
Since the acceptance of cryptocurrency by many although there many forces from government fighting against its use because there is no agency or body regulating it but the users who control the market. The early challenges faced by adopters of cryptocurrency was liquidation of tokens. It is one thing to invest and another to be able to liquidate your investment when the need for it arises. I can bet you it was nt easy for initial users of cryptocurrency. Many had to exchange with others who wish to buy the token or invest in a cryptocurrency. Exchange was done based on trust hoping that when the token I transferred to the buyer, the seller can in return anticipate to get fiat currency. In most cases they never got the fiat currency and were defrauded of their investment. Some buyers shortchange sellers and underpay them hence bridging the terms of agreement. All these and many more trailed the system until blockchain developers and startups considered building crypto-exchange platform to enable everyone trade and also exchange their tokens for fiat currency. Not a platforms give room for the exchange to fiat currency and if they offered such services there is always a cost such as high charges for such transactions.
It is sad to note that most trading and exchange platforms leave some finger print backdoors with which they can manipulate the market which is a serious offense. Even when the system is transparent they are is still need to regulate trading activities to cut down of the number of cheaters who are usually the whales that manipulate prices of some cryptocurrencies to their advantage. The cryptocurrency is still in is premature phase and with contribution from KuBitX exchange platform it will grow stronger by the day.
The KuBitX Blockchain solution and their framework Architecture
The KuBitX blockchain solution is a platform with multi applications. It basic goal is to ensure fill in the gaps left by other cryptocurrency exchange and trading platforms using the sustainable business model. The blockchain is designed to allow uses to register on the platform u=via their mobile or web application. When they create their account they can then transfer their token from their different crypto wallets to their KuBitX wallet and trade with it. After trading they can exchange their crypto tokens for fiat currency or transfer back to any exchange wallet of their choice. Every transfer transaction is carried out at a cheap commission fee of 5% for gateway payment to financial service providers who are in partnership with KuBitX and have their API integrated into the blockchain platform. The platform computing power on the blockchain is optimized to handle lots of traffic and transactions processing with ease eliminating system downtime.
The KuBitX Exchange architecture is designed have maximum system uptime while operating without much server traffic delay on the client side. The architecture utilizing geo-mapping in its blockchain to ensure there is distributed network on the blockchain. This gives it stability and no single pint of failure on the system. The end users enjoy smooth and efficient trading experience on the client side. The Architect incorporates payment system APIs and transaction servers to handle requests on the platform. There is a reserved risk management server to handle overload and system exposure thereby protecting the major transaction servers and APIs from direct hackers hit on the system. Every component of the system is logically connected to maximize throughput and ensure a more secure network on the blockchain platform.
The Market Edge Provided by KuBitX platform
The KuBitX platform is not basically centred on only trading and exchange but ensure ease of transaction by its users. It focuses on adoption and reaching certain geographical areas in that have limited access to cryptocurrency financial services. In order to achieve this it has integrated the following model into its operation
Ambassador/Channel Program: there is no better way to promote cryptocurrency than having global ambassador in every geographical region to help sensitive every region on the need to adopt cryptocurrency and utilize KubitX platform. These ambassadors can project good image of the platform and provide banks opportunities to reach out to global market by allowing them integrate their [payment APIs into the platform for users in their region to have a way to liquidate their tokens in the crypto market. The ambassadors will organize training and workshops to enlighten people in their geographical region about the KubItX platform and by so doing in the adoption of KuBitX as a global exchange and trading platform for cryptocurrency will be a reality
Financial/payment Services: One of the major challenges of cryptocurrency holders and investors is the liquidation of their tokens and interbank partnership with crypto market. KuBitX aims at bringing on most tradition banking services on its platform for ease of transactions by its users, Features such as fund transfer, payment processing, merchant servicing, Remittances, Bill payment, trade financing are part of the roadmap of KuBitX project. At the long run, it will be a multi exchange and trading platform offering greater value than current exchange platforms in the crypto industry.
About KuBitX Token and sales
Building this tasking project is a challenging one that would require investors to realize their roadmap. As a blockchain startup, KuBitX is follows the part of other blokchain projects in raising funds for its project through the use of ICO. It has minted 500,000,000KBX token for the project. 36% of this total token will sold out in the pre-public round (pre-sale phase) while 16% of this token will be sold in the public round (main sale). Seed Round is expected was scheduled to hold from start of ICO to 16 July, 2018. Which will be immediately followed by Pre-Public Round which will kick-off from 16 July – 31 August, 2018. Main Public round will start from 31 August to the end of token sale which will be announced by the team. The project will be accepting contributions via Ethereum token in this KBX token sale through the website. During the sale, 1 ETH will be equivalent to 8,909.09 KuBitcoin(KBX). To learn KuBitX blockchain project and their token sales please visit the following links below.
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