THINKCOIN - EXPLORING THE POTENTIALS OF A MULTI ASSET TRADING BLOCKCHAIN BASED SYSTEM

-
The domination of financial markets by banks and other financial institutions has some adverse effects on trade which includes a lack of transparency in the execution of trade and making of prices, it lacks flexibility in the trade transfer as well as requiring a longer period of time sometimes up to several days to settle trades unlike on the blockchain which does same in seconds. The failure of established financial institutions to adopt the blockchain technology opportunities is one of the main reasons for the stagnant nature of its operations.

The solution to this problem is the introduction of the TradeConnect network whose major aim is creating a new trading network which will democratize trading. This network platform promotes direct trade between and amongst individuals and institutions on a level field and with a lower cost, the blockchain will be used for execution and in conducting off-chain platform in order to deliver the fastest service possible. This led to the introduction of the ICO of ThinkCoin, a new digital token which will be the leading trade on the TradeConnect network.

The TradeConnect network aims at developing a multi-asset trading network based on the blockchain technology, trying to met the expectations of modern markets in speed of program execution as well as settlement and to do this effectively, it combines blockchain based smart contracts with off-chain transactions. It uses the blockchain ledger as well as its trust, integrity and visibility. As a solution, the TradeConnect platform will also benefit from the ability t hold and settle funds on the blockchain, the increased speed of the off-chain processing is also an added benefit.

Some advantages of the TradeConnect platform are;
  • Trade connect removes the reliance on brokers and in turn promotes direct trading between participants 
  • With funds for trades committed in the blockchain while awaiting execution and settlement of trading contract, the control of the users money by self is assured. 
  • TradeConnect ensures there are no delays and no fees for transferring funds with almost immediate settlements and payments. 
The ThinkCoin (TCO) based on the vast backup of banking networks, is able to hold client funds in a divided manner. TCO will be an asset-backed token and fiat currencies like USD, GBP, JPY and others will be stored on the network for the available TCO. TradeConnect operates without taking risks on a market neutral revenue model and with its long term experience in holding client money, can provide the maintenance of price and liquidity in the token. Participants in the TradeConnect network are divided into Subscribers and Providers.

Subscribers are subdivided into two
  • The MarketMaker (Makers) who facilitates the creation of contract terms for the trade of a particular financial product 
  • The Counterparties (Takers) have the ability to browse and accept contract offers by signing with their private key before it is submitted to an oracle which in turn signs a contract result and submits to the Smart contract. 
Providers are made up of three kinds
  • TradeConnect Contract which is also known as the guard of the rules, stores traded tokens and settles trades made off-chain 
  • Relays are off-chain stores created by market makers for trading offers 
  • Oracles help in delivering information and determining contract result. 
The success of this network however depends on three factors;
  • The number of participants in the network 
  • The speed at which transactions are confirmed 
  • The maintenance of enough liquidity to ensure all transactions are matched and executed instantly. 
Feasible plans and ideas have already been mapped out to further develop and expand this platform like exploring partnership opportunities with other companies, addition of Crypto wallets to the platform (crypto wallets are storage solutions for crypto currencies to be stored with ease on devices with or without internet access. There is also a plan to introduce StableCoins trade token which could have the characters of fiat currencies and could be minted and used for trading and also expect a reduction of barriers of entry for new users since the interface might be a little different from what customers are currently used to.

USEFUL LINKS


Comments

Post a Comment

Popular posts from this blog

ARWEAVE - A REVOLUTIONARY TECHNOLOGY WITH A DIFFERENCE

-
Image
Our world is presently experiencing a surge in digitalization of data, which has paved ways for digital platform like the blockchain technology for the storage of bitcoin and others. However, all blokchain innovations, including the bitcoin sat on the symphony of data structures, and cryptography except the Arweave platform.  The Arweave is a well structured and organized platform that enables immutable storage a reality, such that providing a long-term, permanent data storage features that the internet  desperately needs but currently lacks. One of the critical component of the Arweave  system is designed for developers to easily build applications that Interface with a good data from their networks. The major purpose of Arweave was to make data storage more affordable, sustainable and still considerably fast to its users. For example , each second,  5,000 transactions is what Arweave promises for its data operations on a 100mbps network, this a  what most...
Read more

CARDSTACK:THE EXPERIENCE LAYER OF THE DECENTRALIZED INTERNET

-
Image
Cardstack is a decentralized internet experience layer, creating a blockchain-based ecosystem that can challenge super-digital power today. Cardstack will change the blockchainworld !! Take a scenario where a user can be assured a satisfying and unchanging friendly user experience in all distributed apps and applications (dApps) with incentives for software manufacturers in the form of payment for incredible performances. The approval of Tally of transactions on the blockchain database in a fast and effective way thus eliminating the complicated need to wait for every node in the blockchain to verify the transaction as it normally does in the usual blockchain.  Card token more commonly referred to as CARD is the unique cryptocurrency for the cardstack hub. This is a kind of Ethereum token based on cryptocurrency ERC20. Compared to other currencies, Ethereum-based CARDs will be used to established an acceptable and enticing marketplace where developers are using open sou...
Read more

USECHAIN - THE FIRST CREDIT BASED PLATFORM ON BLOCKCHAIN TECHNOLOGY

-
Image
The blockchain and it's related technology has been making waves all around the globe, but out all these groups of technology,non has been able to match Usechain in terms of standards and development. The poor scalabilty and performance, inefficiency of the blockchain system have limited blockchain use to only cryptocurrency,trading and exchange which is very limited to an extent. However, The Usechain is mainly the first mirror identity. It primary mission was to use Usechain foundation to develop a real credit ecosystem, making it possible for consumers to enjoy all services and products based on credit. Developing the first mirror identity for the blockchain system using existing technologies of the blockchain. It becomes the first public built mirror identity protocol blockchain using the integrated multilevel innovations in structure design and technology. However, Usechain is here to solve a specific need of credit platform where every members and investors can enjo...
Read more