Introduction
The year 2007/2008 was the year of the World's economic downturn, the world's economy experienced a global financial crisis.
The economic recession was as a result of uncalculated risks and unimaginable policies by traditional financial systems, which in turn crippled the financial backbone of the economy. The world was in dire need of a bail-out plan, in order to salvage the situation and prevent the world's financial system from collapsing
In 2009, Satoshi Nakamoto silently launched the first cryptocurrency: THE BITCOIN, with a simple goal: to foster a peer-to-peer payment network that is decentralized, a payment network that is totally independent of a central authority.
THIS WAS THE BAIL OUT PLAN FOR THE WORLD'S AILING ECONOMY
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9years down the line, cryptocurrencies have proven to be revolutionary. With its blockchain and decentralization characteristic, it is widely gaining the spotlight and gently edging out our current banking system due to its fast, efficient and secure trading processes.
Cryptocurrency have attained uncommon ascendance in so little a time, owning to the availability of different exchange platforms, which have in diverse ways addressed the various crypto-related problems, ranging from Speed of transactions, to liquidity, to heavy transaction fees and interoperability of platforms.
However, as much as these various exchange platforms have contributed immensely to the wide acceptance of cryptocurrencies, they have as well become the Achilles heel of cryptocurrencies.
The problems of these exchange platforms is what Axnet addresses and they would be discussed extensively.
What is Axnet?
Axnet is an asset exchange platform, however Axnet is unique in that it is strategically designed to foster easy trading of cryptocurrencies with fiat currencies.
Axnet is designed to host major cryptocurrencies with trading pairs of USD, BTC, EUR, ETH, GBL and USDT.
Axnet is the first of its kind: being the world's first hybrid exchange, empower users with the option to decide to trade using a high-speed decentralized exchange or a centralized fiat exchange.
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Axnet is the unique exchange platform, that ties up and loose ends and addresses the inconsistencies of other crypto-exchange platforms.
Shortcomings of exchange platforms.
1. Inadequate Customer Services
When money is involved, human behavioral patterns can be inexplicable. Most users on exchange platforms, usually require a guide on how to exploit the exchange to their advantage, with loads of question marks in their head, a customer service seems like the best option.
Unfortunately, the customer services on most exchanges are automated and bot-controlled, and as such irrespective of the differing questions on the exchange platforms, pre-programmed replies/responses are always the feedback.
This has led to the frustration of users and ultimately loss of crypto-assets due to inability to communicate with the customer services of such exchange platforms.
2. The design of Exchange platforms
Many exchange platforms are a product of inexperienced software programmer, with inadequate technicality of how an exchange should run and ultimately no futuristic blueprint and allocation for the exchange platform.
This negligence has resulted in the sudden crash and loss of assets of many exchange platforms. This is as a result of more people being on the exchange platform than it was hurriedly-built to cater for.
3. Security Mishaps
Anything that boasts of guaranteed maximum security must constantly ensure that from time to time, it's security measures are checked and tested to confirm its effectiveness, unfortunately this is not the case with many exchange platforms which have been subject to theft and hack, ultimately resulting in the loss of assets.
What is different with Axnet?
1. 24/7 Customer Service.
Axnet would ensure users have assess to its customer service at any time of the day, to resolve issues, complaints and proffer solutions as quickly as possible.
2. Up-to-date Security
With her experienced operations team, Axnet is built on a PCI compliant standard.
The Axnet ecosystem goes through various penetration tests to certify efficacy of security measures and ward-off theft and hack.
3. Choice of Exchange.
Unlike most exchanges which constrain users to users to trade using either of decentralized exchanges or centralised exchanges based on pre-determined market niche of the exchange platform.
Axnet being an hybrid exchange grants users the power to choose to use decentralized exchanges or centralised exchanges, or even both, based on the nature of their trade.
Axnet Exchange Features.
1.Centralised Exchange
2.Decentralized Exchange
3.EOS Decentralized Exchange
4.Fiat Based Exchange
Axnet Road Map.
Use Case
Anthony is a crypto-trader, he is faced with the issue of having to go across different exchange platforms to employ decentralized exchanges and centralised exchanges at different trading times.
This has proven to be tasking, time-consuming and expensive. Anthony has been on the look-out for an alternative.
However, soon enough Anthony comes across Axnet and can take advantage of its hybrid exchange system to transact using decentralized exchanges or centralised exchanges all in one platform.
Conclusion
The interoperability of the Axnet blockchain is a sigh of relief. Granting users the ability to toggle between decentralized exchanges and centralized exchanges is truly the first of its kind.
Axnet unique features such as the 24/7 customer service and up-to-date security model is truly a stictch to the loopholes of various exchange platforms.
Axnet would restore the confidence in adoption cryptocurrencies globally as a means of exchange.
For more information, check:
“DISCLAIMER: This article was created in exchange for a potential token reward through Bounty0x"
Author's name: godwinzzyzx
BountyOx username: godwinfyoung
Twitter username: godwinfyoung
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Great piece.i had to read through over and over. Axnet would restore confidence in trading with cryptocurrency by addressing the issues of existing exchange platforms.
Nice job @godwinzzyzx
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This article, I must comment is top notch as it entails fascinating information about the crypto world, It's challenges and solutions.
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Great piece
An exchange that combines and improves on the advantages of both centralized and decentralized exchanges, nice write up