In the history of man, we have seen cool technologies popping up to address human problems. The internet of the 20th century had its moment. Its applications are still in use at this current era. It changed the way information flow from one country to another. The Internet has been one of many technologies businesses have adopted and has brought immense growth to them. The blockchain, I'll say is a silent technology rapidly revolutionalizing the business sectors.
The blockchain is a distributed data storing ledger which has proven itself to be the most secure way to keep data to public consumptions. Its original aim was to keep records of transactions permanently without alterations. But now many industries have found a good and alternative use case for it. The early adopter was the Bitcoin cryptocurrency. All transactions happened to be peer-2-peer on a decentralized platform and recorded on the blockchain. Currently, centralized exchange systems have taken over the cryptocurrency exchange ecosystem bringing lots of issues to users.
High fees, transaction delays, and considerable portfolio losses caused by hacking attacks and insider fraud have been some problems associated with centralized exchanges. Many new users are discouraged because of these issues.
Is decentralized exchange the answer to these problems?. We'll find out soon in this article. But first, let's talk about Volentix.
About Volentix
Businesses develope with the community members actively involved with the management usually thrive well. Volentix is a community-powered decentralized autonomous organization (DAO). We are only aware of the hierarchical structure( chief executives, vice-presidents, directors, managers and others) in the traditional businesses in charge of the decision making. It is the opposite in DAO. Decision making is put in the hands of the community members. A DAO is essentially an automated organization whose policies and bylaws, or governance, are democratically driven by community consensus and often controlled by programmatic structures on a blockchain known as smart contracts.
The community involved here organizes and governs Volentix. When it comes to profit distribution, the native currency VTX plays a role in it. VTX distribution helps to add population to the Volentix ecosystem and also increases the value of the token. The main pillars of Volentix are VDex(a decentralized exchange), Verto(multi-currency wallet that will allow access to VDex), Vespucci(a cryptocurrency rating platform), Venue(a platform for rewarding community members for their activity) and VTX(the token involved with all transactions in Volentix ecosystem).
VDex and the Verto wallet
The gateway to Voletix ecosystem is the vorto wallet. It holds all your assets securely with you in full control of the private key. The flagship product of Volentix is the VDex, a decentralized exchange platform. It is developed to address the current problems centralized exchanges are facing. It's extensible and customisable that prioritize the financial and data security of its users (by not possessing users’ information or assets). It'll also be first of its kind to facilitate cross-blockchain exchange.
Users of the VDex will attain full control of funds in their wallet whiles trading. In the centralized exchanges, users do not have control of their private keys hence attracting hackers. When a trade is executed on VDex, the funds are temporarily locked until either the transaction is finished and the new funds become available, or the transaction is aborted and funds are again released.
Trading with VDex is the best means of exchange currently if one cares about the security of his or her funds.
The following are links to help know more about Volentix and their token sale.
Website Whitepaper Telegram
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