In case you missed my last couple videos, I am shedding some light on decentralized exchanges and how they are evolving.
On Monday we discussed 0x and how its aim is to bring organization to Ethereum’s ERC20 tokens.
Today is a new day, and a new video featuring a new platform.
Now I’m curious, how many times have you used an exchange and wished you could customize it to fit your needs?
Well, the new Halo Platform will be designed to let you do just that, along with a lot of other things.
Let’s first take a look at what this platform will look like:
Because they have widgets designed for your dashboard, you can swap out ones that you prefer for those that you won’t be needing, this allows you to totally customize your experience so you don’t waste time with information you don’t care about, instead, you can have everything you want to know all conveniently organized and where you want it.
Now let’s look at how the Halo blockchain itself is organized.
It started out as a clone of Ethereum’s blockchain but has since evolved into it’s own unique blockchain.
Halo utilizes Proof of Work with a Tiered Masternode system.
I think it will be very interesting to see how this handles large volume down the road.
Let me explain why, their proof of work enables miners to steadily grow the supply by rewarding them with 45.5 halo per block created, this happens every 4 minutes, in addition to receiving 15% of the previous day’s service fees.
Their tiered masternode program is actually a processing hub for Halo transactions.
This is called a Variable Demand Transactional Blocks process. This means that these masternodes process blocks at variable times based on the traffic on the network. If this platform sees high volumes, I think this will be really interesting to see how this VDTB process succeeds.
Also this masternode system is tiered, meaning Halo has options for many different levels of investments to take part in a master node and receive rewards that way.
Other things you can do on this Halo platform include:
- Create your own token,
- A debit card will be available around March 2018
- Create your own online store with their marketplace
- Use their social groups to create places to discuss things like trade analysis, it also lets you set up subscriptions as an option for these groups.
It certainly seems that Halo has thought of everything anyone might need regarding cryptocurrency and will gather it together on their platform.
Even though all of this information is in a way centralized for your convenience, they are not utilizing centralized servers, or will have control of your private keys like the centralized exchanges.
That being said, it will be very wise to keep an eye on Halo’s security measures to be sure that they are keeping all of this information secure.
If all goes well I can certainly see Halo becoming a very popular platform for crypto traders and those looking to expand on their online marketplace.
The Halo platform is not live yet, their ICO began on Monday September 25 and will run until October 9 or until 1 million Halo tokens have been sold.
Additional Reading/Sources:
Halo project
Whitepaper
Roadmap
Halo Demo Video
Halo Dashboard (Widgets)
POW/VDTB Masternodes
Halo Exchange
Create your own token
Debit card
Business tools
Marketplace
Portfolio Tracking
Wallet Integration
Social Groups/Subscriptions
Financials Hub
Backups
Smart Tools for your crypto data
Arcane Bear Interviews CEO of Halo Platform Scott Morrison