Hi friends! Today I'm going to talk about a great upcoming Decentralized сrурtосurrеnсу exchange which has pretty much attracted so many ICO investors attention. Streamity where it is basically easy to exchange crуptоcurrеncy to any type of fiat money and it can even make send cash to user's mobile phone!
The problem in general, is that if any aspect of the exchange is centralized, then it can mean users in various locations are unable to register, or even have their accounts closed. Such exchanges always come under huge scrutiny, rule and regulation. For example, we can talk about a centralized exchange like with Coinbase. Because of its centralized way of maintaining the exchange, there are various lawmakers have said that Coinbase has violated this and thus regulations. So many users have their account being frozen while there's literally no way to recover their accounts. For any cryptocurrency traders or enthusiastic - centralized exchange like Coinbase is hardly ever going to stand out as a great way of trading or using cryptocurrency exchange. This is the biggest reason why crypt traders need decentralized exchange to have all the important aspect of freedom of trading their asset on an exchange. So any exchange that can get around these restrictions will find that there is a market sitting there ready for them, which is pretty cool when you think about it. So decentralized exchanges are really really good using the smart contracts it's very easy to understand.
As we know we are still in the early days of cryptocurrency where it is one of the major issues that the user of cryptocurrency around the world finds it so hard to transfer their tokens/coins to their desirable fiat currency. This is where Streamity is trying to make a big difference. As a crypto lover and holder of various kind of coins/tokens - I always find it so hard to convert my cryptocurrency into fiat money when I need fiat cash. A great variety of platforms offer such services but any of them can satisfy all needs of users. The first thing that any newcomer in cryptocurrency market is interested in is sale and the purchase of tokens. Currently, this operation can be done at the market exchanges, online exchangers. But in truth there are many problems in many types of platforms, there is a lack of safety and transparency and also the shortage of liquidity.
What is Streamity?
Streamity project appears to be a multifunctional distributed exchange which is designed to increase transaction speed to almost instant. The new platform is a very specific type of exchange that operates using Smart Contracts. Their hope is to eliminate the common issues related to moving cryptocurrencies around and then exchanging it for a fiat currency that you can then use in the real world. Streamity will allow the buying and selling of cryptocurrency without charging users any commissions while securing better profits for the users. The problem is that generally speaking, the cryptocurrency is effectively trapped within the Smart Contract until there is a signal received by the account of the owner that the transaction is going to happen. This is frustrating for users and takes time as well as often requiring the use of a middleman to complete the transaction. Streamity wants to eliminate those third-parties by offering an easier to use application that deals with the exchange in an instant.
The Technical Aspect of Streamity:
From a technical perspective, the new platform is simply offering a more simplified exchange method that seeks to remove that all-important block regarding Smart Contracts and will do so by running their platform on Ethereum. They plan on doing this from a decentralized base and to remove the centralized aspect that has been common with other similar exchanges.
This is achieved by simply allowing the various users to connect with one another in order to complete their trade. This direct trading allows both parties to know who they are dealing with, and as it uses the blockchain to complete the transaction, it does mean that you can also take advantage of the anti-fraud and anonymity aspect of the blockchain providing a new sense of security.
Furthermore, they are also seeking to provide a database of cryptocurrencies to help individuals with their trading. Also, their website and application will include a significant amount of information connected to the market that will also help people to make their decisions with their trades. The currency itself operates as the fuel for the exchange adding value to the tokens created by the company. As the platform and exchange grows with an ever increasing level of trade, then the value of the token will also increase representing a better investment for those that have become involved in the ICO.
The Advantages of Streamity:
Perhaps the main advantage of the project is that they do not have to be hit by the same legislation as centralized exchanges due to the way in which they operate. As a result, it allows them to operate in more areas than other exchanges with it, therefore, opening up even more markets.
Pairing yourself with someone who wants to buy your coins with fiat currency through an easy to use mobile interface is a much simpler and quicker process.
Of course, there is also going to be an additional advantage connected to the commission that has to be paid since they are running on that decentralized base with this reducing costs and lowering the rates. In general, the commission rates will never go as high as 2% for the exchange with the majority being significantly lower. This is certainly favorable compared to other exchanges, and this in itself could work to the advantage of the exchange.
ICO Details:
For the ICO, the company is able to accept a number of different cryptocurrencies as well as several fiat currencies. This will include ETH, BTC, ETC, LTC and the more common fiat currencies around. Streamity Token- STM is an Ethereum based token. STM tokens are being issued which adhere to the ERC20 token standard. There is a minimum investment to take part in the Streamity ICO with this being set at 0.1ETH.
The company has also sought to implement both a soft cap and hard cap. The soft cap has been placed at $500,000, which has already been met. While the hard cap has been set at $20,000,000. The price that has been set by the team is 1STM being valued at $0.20.
Name: STM
Token standard: ERC20
Total Cap: 186 Million tokens
Price: 1 STM= 0.2 USD
Pre-ICO: January 22nd 2018- January 28th 2018
ICO- 1st Phase: March 12nd 2018- March 25th 2018
ICO- 2nd Phase: April 16th 2018- April 29th 2018
Main Sale: 2018-06-25 - 2018-08-06
Payment Method: BTC, LTC,ETH, ETC, USD, EUR
There is a great feature that will make investors investment worthy which is according to their whitepaper any tokens that are not going to be sold during the ICO - they will be burnt to create the final total that will then be used to power the entire platform.
Streamity System's workflow:
Participants of the transaction are a seller and a buyer of cryptocurrency. The Process of Purchasing Cryptocurrency:
• The buyer exposes the application for purchase of cryptocurrency.
• The system selects the suitable seller (sellers).
• The seller and the buyer confirm the intention to make the transaction.
• The cryptocurrency is blocked by the smart contract until receiving a signal from a payment service provider of a successful transaction. The buyer transfers funds to the account of the seller by means of payment service provider according to his corresponding location.
There are so many advantages of Streamity Project such as below!
• Fastest and easiest way of cryptocurrency to fiat money exchanging for both beginners and experts.
• There are no hidden commissions like other centralized exchanges.
• The Streamity platform is going to give the power and control of the exchange's process to its users by eliminating all third parties and any central authorities.
• The commission of service for the buyer of cryptocurrency is 0%.
• The commission of service for the seller of cryptocurrency 0 to 2%.
• Reliability is provided at the expense of the smart contract and payment service provider.
• The transaction is transparent.
What exactly StreamDesk is?
StreamDesk is the peer-to-peer platform crucial to Streamity and is a decentralized application. It is the key element of the Streamity project. Both of the parties are individuals, in this platform. There is no comparison among StreamDesk and traditional financial institutions such as banks or stock exchanges, as fiat currencies are transferred directly between individuals. StreamDesk assures the exchange of cryptocurrencies for fiat currencies utilizing smart contracts.
Conclusion:
The Streamity team will find it extremely hard to fight off other decentralized exchanges but because of its unique feature which have been mentioned by me above they will certainly be in a positive race. Once their platform is fully up and running Ii expect them to attract a lot of traders to use their cryptocurrency to fiat currency offering exchange. The team behind this project looks great. They also have experience in producing tech startups, so this will also provide some confidence that the ICO, and project in general, may very well become a success. I have a strong belief that the team will deliver us their service which they laid out in their whitepaper perfectly.
For more information, you can visit Streamity's official site and read their whitepaper., learn about the team. The links can be found below:
Website: https://streamity.org
Whitepaper : https://streamity.org/uploads/docs/en/Whitepaper_Streamity_en.pdf
Bitcointalk ANN Thread : https://bitcointalk.org/index.php?topic=2519489
Telegram: https://t.me/streamityChat_en
Twitter : https://twitter.com/streamityorg
Facebook: https://www.facebook.com/streamity
LinkedIn: https://www.linkedin.com/company/18305291
Medium: https://medium.com/@streamityorg
Instagram: https://www.instagram.com/streamity
Author's Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1215448
Author's Linkedin Profile: https://www.linkedin.com/in/invincible49