A new P2P cryptocurrency exchange service called Streamity is set to launch. Their decentralized application is known as StreamDesk.
The service is based on smart contracts, which will enable secure exchange. The platform is preparing for its ICO before launching with a list of dynamic and efficient exchange and investment services.
Cryptocurrency is an evolving form of money for 21st-century civilization, fully rich with abilities to carry out transactions securely and anonymously from any part of the world.
The need for a solution to best harmonize the differences between the thousands of cryptocurrencies have never been answered at least not to a half of what the market demands. A range of cryptocurrency exchange platforms already exists. However, Streamity says, “many flaws and unnecessary malfunctions and user dissatisfaction are being reported by users of these exchange services.”
Anomalies ranging from server blackouts for very long hours, causing users to lose millions of dollars to a full takeover of customer deposits by malicious hackers have recently hit a series of existing cryptocurrency exchange service providers.
Streamity token (STM) is the key element of the Streamity medium. STM is the native currency of the project. It means that all services of the project are expected to be paid in STM.
Encapsulation, Speed, and Low-Cost Minded Design
One of the most important selling points of the Streamity project is the improvement of cryptocurrency transaction propagation speed. The project has devoted many resources to develop and test its solution to this problem. The Streamity team knows what cryptocurrency users want in terms of transaction speed and has gauged the market capacity to be below consumers demand. The project has designed a smart contracts applet – the Streamdesk aggregator – that will ensure cryptocurrency exchange to Fiat without involving intermediaries. This way transaction can be trajected without incurring any unnecessary delays and costs at any third-party intermediary like other exchanges do, this has enabled Streamity achieved lightening speed transactions.
Streamity will engulf all the cryptocurrency listed on the market on its platform and live feeds of market data for all the listed cryptos and companies will be transmitted in real time. Converting any of the cryptocurrencies listed on the platform to another will be carried out instantly, efficiently and securely on the Streamity platform. Streamity was built provide low fee transaction capabilities cryptocurrencies were once known for. Case in point the team says, “on LocalBitcoins, transactions which currently cannot be confirmed even for transactions amounts as high as $33 making cryptocurrency lose its meaning of enabling the propagation of low to zero fees o a small transaction.”
Streamity Smart Contracts Secured Transactions Beat all Hacking Attempts
Streamity has designed a hacking proof smart contracts secured transaction lane where all the transaction streamings through the platform will flow. This has been made possible firstly by incorporating the Ethereum introduced smart contract service into the transaction processing algorithm. Since smart contracts alone do not ensure complete transaction security of the transaction stream fluxing through the system, as seen from recent mistakes that saw about $300 million locked away in Ethereum smart contracts by an anonymous user unknowingly. Streamity developers have added another security feature – timing control. The timing control algorithm shall allow a transaction to be added on to a smart contract within a specified period of time else canceled and reverted to the initial user. Coupled with a user verification system Streamity can achieve the next generation of transaction security on its upcoming platform.