In 2019, Mr. Cotten, the founder of Canadian exchange Quadriga suddenly died of illness while travelling in India. With most of the exchange’s digital assets in his cold wallet, a total value of $137 million crypto was “permanently sealed”. There’s a lot more to the story. Investigation shows that Mr. Cotton transferred all his digital currencies into the accounts of rival exchanges before his “death”, and has made transaction successively ever since. Homicide or natural death, only a few people would know. Regardless of the facts, the biggest losses are borne by people who use Quadriga. With centralized exchanges, our property security will always be controlled by others.
As the disadvantages of the centralized exchanges gradually reveal, people are now in desperate need of a decentralized channel to guarantee their property safety without any involvement of third-party institutions. The decentralized ecology of VDS solves all problems. VDS is the world’s first completely decentralized ecology of future currency. Through the built-in decentralized OTC function, it has established a barrier-free channel for the exchange of cryptocurrency into fiat currency, making transactions happen under decentralized conditions. In VDS, each participant is capable of establishing his own OTC exchange through the distributed and anonymous secret chat group. VDS relies on smart contracts to guarantee asset security of both parties in the transaction and help buyers and sellers to complete transaction in an efficient way, while avoiding the large concentration of assets in centralized platforms. In this way, horrible stories like users losing all their chips due to the “death” of founders will not repeat themselves.
In addition to using technology to avoid the concentration of assets in the hands of centralized institutions, the decentralized OTC function in VDS groups can also build a wall of defense to protect user privacy. As we all know, the biggest drawback of a centralized institution is the risk of violating users’ privacy. Since VDS itself is a “private Internet”, it does not have a central server for data storage, only to provide data transmission through numerous super master nodes on the VDS chain. OTC group owner, buyers and sellers are all protected for their privacy and able to conduct transaction anonymously. It is increasingly difficult for us to believe the promises of centralized institutions. Instead, we should use technology to safeguard personal privacy. VDS is a perfect transaction channel to protect users’ privacy.
In the highly decentralized and free financial model of VDS ecosystem, all rules and technologies are designed to achieve a common goal, to safeguard privacy and realize freedom of wealth.
Everyone can start their own distributed OTC trading groups here, meanwhile, those who want to trade assets can pick up any OTC group according to the needs. In this decentralized transaction model, the privacy of users is respected and wealth is commanded by ourselves without the intervention of third-party institutions.
