12 August 2017 1:08 pm
In February of 2014, Mt Gox, the largest Bitcoin exchange at the time, abruptly suspended trading, filed for bankruptcy and announced 850,000 bitcoins, belonging to its customers, were missing. This crushed investors and devastated the bitcoin market.
Bitcoin and the entire blockchain industry have come a long way since 2014, however investors continue to risk their hard-earned money by using vulnerable centralized exchanges.
Year after year there continues to be stories of fraud, mishandling and blatant theft of customer funds from popular exchanges. Even “respectable” exchanges frequently experience outages, trading/withdrawal suspensions and flash price crashes and spikes. Recently the crypto exchange BTC-E had their domain seized and the site’s users are not certain about the state of the funds that were previously held by the site. The seizures began after the arrest of one of the administrators of the site, Alexander Vinnik.
Some investors are fed up of the abuse and they are doing something about it. Many users are taking their business to the BitShares Decentralized Exchange DEX. Decentralization of the exchange gives BitShares robustness against failure because any attack or failure impacts only a single user and their funds. Users are in control of their own security, which can be much better than any centralized entity.
Even more impressive than the level of security offered by DEX, is the vast array of features the DEX offers. The BitShares Decentralized Exchange DEX offers a high-performance exchange capable of handling the trade volume of the NASDAQ while offering the benefits of a decentralized system. There is no need to sacrifice functionality for security.
The DEX allows for the creation and trading of bitAssets. These are market pegged assets that have their value tied to that of real assets such as the U.S. dollar or gold. This allows investors to have the benefits of price stable currencies while also having the features of cryptocurrency. The BitShares platform provides a feature known as "user-issued assets". These are custom tokens, designed to suit an individual or company’s needs, that can be traded on the DEX.
The migration to BitShares DEX isn’t just comprised of investors and traders, businesses are starting to join the network. Private communication company, Crypviser has chosen to build on the BitShares platfrom. If you are wondering why they chose to use BitShares instead of the in vogue Ethereum platform take their words not mine…
“Crypviser chose the Bitshares platform powered by OpenLedger based on its key features, which match Crypvisers technical requirements and ideology. The Bitshares platform is one of the most powerful, secure and scalable blockchain networks available today.”
The world is experiencing a wave of innovation based on blockchain technology. Blockchain and the decentralization it provides will challenge nearly every industry and institution in the future. Just as the internet decentralized information, blockchain will decentralize economics. The notion of trading decentralized tokens that fund decentralized autonomous companies on a centralized exchange is ludicrous. It is only natural that the industry will gravitate toward decentralized exchanges. This was part of the reason Crypviser chose to build on the BitShares platform.
“The Crypviser team believes that the future of exchanges and trade platforms in decentralized blockchain world belongs to the decentralized exchanges.”
The BitShares platform offers incredible speed and reliability as well as a decentralized exchange. As other blockchains are struggling to scale, BitShares is already providing users with an industrial grade blockchain. The future of BitShares is yet to be seen but it is clear the BitShares platform and decentralized exchange are leading the charge into the future!
If you want to read more about Crypviser on the BitShares platform check out the following article.
If you want to learn more about the BitShares platform and the powerful services it offers visit bitshares.org.
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