LocalCoinSwap aims to create the largest market in the world. Find out how this will work in my review. Go!
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How does LocalCoinSwap?
LocalCoinSwap, which is located at LocalCoinSwap.comis the cryptocurrency exchange, which aims to give users more control over the platform. The creators claim that their market is "the most transparent financial exchange on the market."
Why is that transparency important? Why should you care about transparency of exchange? Because the exchange of promises to distribute 100% of its profits to the community.
The community is also allowed to democratically vote on all aspects of work in the market.
LocalCoinSwap the ultimate goal is to create the best cryptocurrency exchange p2p. This will solve the problems of today's centralized and decentralized exchanges. He will have a escrow service to facilitate decentralized cryptocurrency exchanges, making it more decentralized.
How does LocalCoinSwap?
Obviously, there are hundreds of cryptocurrency exchanges available today. What distinguishes LocalCoinSwap from the competition?
LocalCoinSwap release lower costs for traders. Users will support peer-to-peer transaction, which means that you don't need to pay fees to the intermediary.
LocalCoinSwap also claims to support more cryptocurrencies and payment methods than any other exchange between the parties:
"Other exchanges are usually typical only support a single currency or a basket of currencies the most popular. LocalCoinSwap will cover the most extensive range of cryptocurrencies and payment methods with the development team after launch, the only purpose of which is the introduction of a new currency ".
LocalCoinSwap also plans to launch a special support for the ICO and other new projects tokens. For example, the creators of ICO can run their projects on the platform.
Overall, LocalCoinSwap considers himself a "true" trade-in P2P, where users can trade on assets that they have to get the assets they want. They can pay a low fee for something that is shared revenues received by the platform.
What problems LocalCoinSwap seeks to solve?
LocalCoinSwap is a decentralized cryptocurrency exchange, which is aimed at solving most of the problems that we associate with centralized and decentralized cryptomeria, including all of the following:
- Centralized exchanges often limit the registration of new users, or require users to disclose personally identifiable information before making a trade.
- Centralized exchanges are subject to fuzzy rules based on the countries in which they operate.
- The existing decentralized crypto currency exchange is highly fragmented and are not independent
- Decentralized exchange is particularly problematic for those who trade less popular with Fiat currency or cryptocurrency
- Many users are forced to convert their lesser-known cryptocurrencies in the more well-known cryptocurrency (e.g. BTC or ETH), before, eventually, buy the cryptocurrency that they wanted to buy initially
- in addition, today's exchange with users share any profit generated by the platform
LocalCoinSwap seeks to solve all these problems.
How to operate LCS Cryptoshares?
LocalCoinSwap will sell tokens for LCS Cryptoshares. In fact, LocalCoinSwap tokenizer their platform, and then sell tokens via ICO.
The white paper does not try to hide the fact that you buy ordinary shares:
"The LCS system Cryptoshare uses blockchain technology to replicate the traditional ownership of companies through shares of a more secure and decentralized manner. Like the issue of regular shares and profits distributed through dividends, LocalCoinSwap produces Cryptoshares that give right holders a regular dividend."
The whole system of tokenization published on the blockchain, providing users with publicly audited and neizmennoy financial history of the company.
LCS system Cryptoshares is planned to start by August 2018.
When the system is started, the token holders will have guaranteed rights to 100% of the total profit of the exchange LocalCoinSwap through dividends that will be paid by cryptocurrency. The whole payment system is based on a transparent blockchain, allowing you to see exactly how the system works.
As the owner of the token's LCS, you also have the right to participate in the decision-making platform.
Details ICO LocalCoinSwap
Selling tokens LCS started with the presale March 15, 2018. There are sovcap in the amount of 500 000 USD and hardcap in the amount of $ 20 million.
The total circulation of 100 million tokens will be the LCS of tokens, with 70 million available through a pre-ICO, presales and ICO together. The remaining tokens are allocated to the venture Fund community, which voted investors (10%), the development team, frozen in a smart contract on 1 year (10%), bounty (5%) and rewards program to improve platform security (5%).
Tokens will be sold in the ratio 1 ETH = 2500 LCS.
Features LocalCoinSwap LCS
Platform LocalCoinSwap emphasizes all of the following functions. In General, the developers have built a platform with three basic principles: they want the platform was safe, easy and fun.
There are numerous coins:
LocalCoinSwap pays great attention to add to the platform a variety of coins. They want to offer more coin pairs than any other decentralized exchange.
System Escrow:
LocalCoinSwap has a system of escrow that acts as an intermediary between buyers and sellers. When you begin trade between traders, LocalCoinSwap gets possession of part of a transaction related to the cryptocurrency as a payment made directly from the buyer to the seller.
As soon as the payment has been made and the seller can confirm that the transaction is received, the cryptocurrency is issued to the buyer. The escrow system will not allow you to block funds users during volatile market periods, releasing time limits for each stage of the contract process.
Support for multiple signatures:
LocalCoinSwap will have a transaction with multiple confirmations for improved security.
Dispute resolution:
If a dispute arises, the release of the escrow shall be suspended, and the documentation requested from each party to mediate.
User feedback and community involvement:
LocalCoinSwap attaches particular importance to an active community, where users can easily send feedback on the platform.
Safety:
LocalCoinSwap will have a constant target security group. 95% of the deposits with cryptocurrencies will be stored in offline wallets to minimize potential losses due to hacking.
Simplified structure:
LocalCoinSwap will charge based on comparable markets, in order to compare or avoid these exchanges. This fee is currently set at 1%.
Who is behind LocalCoinSwap?
LocalCoinSwap heads Aapeli Vuorinen (lead safety engineer), data analyst, hacker and developer of many projects with more than 10 years experience.
Other key team members include Nathan Worsley (chief technical officer), Thomas underwood (chief financial officer), Valery Atanelov (home marketing specialist), Daniel Worsley (chief operating officer) and Kevin sparks (lead developer).
Headquarters LocalCoinSwap is located in WAN Chai, Hong Kong. The company was founded in 2015.
Road map
Conclusion
Sites LocalCoinSwap mentioned that "it should be built in exchange". The goal is to create the best cryptocurrency exchanger, which solves the problems of today's centralized and decentralized exchanges. It is "the world's most extensive decentralized cryptocurrency market".
Website: https://www.localcoinswap.com
Whitepaper: https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf/
Medium https://medium.com/localcoinswap/
Facebook https://www.facebook.com/localcoinswap/
Twitter https://twitter.com/localcoinswap_?lang=en/
Linkedin https://www.linkedin.com/company/localcoinswap/
TELEGRAM BOUNTY https://t.me/Localcoinswap_Bounty