Categories: Ethereum

New tool for OTC trade is based on Ethereum smart contracts

Click here to view original web page at ourbitcoinnews.com
Source: Wikimedia

The decentralized platform AirSwap, a trade network driven by the Ethereum platform, launched a tool, called AirSwap Trader, with which traders of over-the-counter (OTC) trades can agree on direct cryptocurrency exchanges, without intermediaries.

The startup focuses on this type of over-the-counter market to allow operations to be carried out through smart contracts, which “constitute a large part of global cryptocurrency operations,” according to AirSwap in a recent publication.

The AirSwap Trader exchange protocol, currently available in beta, is decentralized and has “automated custody,” which can be used to trade crypto assets in Ethereum. Among the advantages of this system is the fact that the exchange of tokens is made from purse to purse, while the platform is responsible for custody. The tokens never leave the wallet until the exchange is verified. This is in accordance with the contract guidelines, which includes a transfer switch.

The platform works with 133 tokens, among which are Gemini dollar (GUSD), tether (USDT), KRWb Token, USDC coin (USDC); true USD (TUSD); standard token Paxos (PAX); metronome (MET); and DAI, among others.

Decentralized and secure trade
In its publication, the company ensures that peer trading with its new tool is secure since transactions are explicitly recognized by the parties and allowed by users, through the use of their portfolios. Both sides should use wallets based on browsers such as MetaMask, a website like Portis, or a cold wallet like Ledger, as noted.

They clarify that they do not work with listings or lodge orders. Also, operations are carried out without records, deposits, or commissions. Once the price has been agreed, the parties go to AirSwap Trader to start the operation, connect to a portfolio, configure the details and share the link.

The startup asserts that the user or merchant will never send personal information, nor will it jeopardize their identity on third-party servers, as each wallet is expected to retain control of its cryptocurrencies until the exchange is confirmed. ” The code itself is verified in Etherscan, where you can see exactly how the operation is executed in Ethereum.”

In this way, based on what his white paper raises ( whitepaper ), the firm intends to establish itself in a business that runs without intermediaries. So look for the price and quantity that trades in AirSwap Trader, are set by the bidder and accepted or rejected by the buyer.

The platform also promises that even without a defined counterpart arranged on the other side, an operation can be created and the link shared publicly, with friendly previews on the social networks that show the operation.

AirSwap is a decentralized platform that went public in 2017. It executes P2P exchanges for Ethereum blockchain tokens.

This new type of trade with smart contracts has become another challenge for regulators and competent authorities, although it is undeniable that they are a growing reality.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Opinion: We Want Bitcoin Results, Not Predictions

Is it safe to say that people are tired of talking about bitcoin? While not necessarily bored by it, they… Read More

5 hours ago

THE BLOCKCHAIN IN ADVERTISING REPORT: Blockchain’s potential to reduce ad fraud and how marketers can get ready

This is a preview of a research report from Business Insider Intelligence . To learn more about Business Insider Intelligence,… Read More

5 hours ago

Blockchain Technology Market 2019 Emerging Technology Research Report by Key Players- Microsoft ,Samsung, IBM, Deloitte,BTL Group, Linux Foundation

New York, NY 16 Sep 2019: – According to a new study published by Polaris Market Research the global blockchain… Read More

5 hours ago

Blockchain to transform most industries in 5-10 years

(Image: Stockfresh) Pro 16 September 2019 | 0Research firm Gartner, whose past evaluations of blockchain have been conservative to say… Read More

5 hours ago

Bitcoin was Facebook’s first choice says Abra’s CEO

Bill Barhydt, CEO of Bitcoin investment platform Abra , claims that Facebook staffers told him the company wanted to use… Read More

5 hours ago

Is This The Biggest Threat To Bitcoin, Crypto, And Facebook’s Libra?

Bitcoin and crypto investors were put on notice this week when French and German government officials backed European Central Bank… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More