INTRODUCTION
There is instability in most centralized financial institutions like banks and corporations. Most times, these financial institutions controlled by the government or state, create a lot of imbalance and leaves room for abuse of power. This system only benefits a few people. Certain organizations decided to create a decentralized market to enable individuals to enjoy the benefits of doing business with assured stability and security. These platforms are not under the control of the government or the national banks, managing your accounts won’t cost any extra charges, users can also make any kind of transactions like buy properties, pay school fees, etc.
Largo platform is a decentralized market that uses Largo coin for transactions. Largo coin is also a decentralized financial tool that allows anyone to trade freely without any restrictions, with low or no charges and almost zeros delays.
Largo systems are built on public Blockchain with open source code, allowing anyone with the ability to review the code and check if it is working as described. This feature has changed the way finance works over the years and as the year goes by, it keeps upgrading to make it better.
OTHER CENTRALIZED PLATFORMS VS LARGO PLATFORM
In other centralized financial platforms, such as the stock exchange market or even the purchase of real estate, avoidable problems may be encountered in the processing. This is why their system is unreliable. For example, during the purchase of a property, the transaction is usually instantaneous, but other processes (such as settlement, registration, verification, ownership change, etc.) may take a lot of time. These processes become very complicated and may involve intermediaries (lawyers or real estate agents), which will charge a separate fee that is different from the fees already paid.
With Largo, the processes involving transactions are not so tedious. Records of transactions are distributed across the Blockchain, that is, the records are duplicated and stored on every system node. Therefore, the details of the transaction (such as price, assets, and ownership) will be recorded, verified, and settled on all nodes within a few seconds. All records are duplicated, recorded instantly and permanently on the interface, they are also open for anyone to verify, for this reason, and there is no need for third party verification.
Another problem faced with centralized systems like banks is that they still rely on bulky paper works to function. Some people move billions and trillions of dollars in and out of banks daily and even though banks still have their digital interface to work with, clients still have to face certain problems attached to their outdated financial system. Sometimes, there can be delays and a waste of time and it gives room to fraud and abuse. There are also unnecessary costs attached to making these transactions.
As mentioned above, the Blockchain is very useful in such situations, because it is essentially a distributed ledger, where each block contains metadata (time, block number) and saves the previous block Independent transactions cited. This technology will make at least some attacks impossible, while others are not economically feasible, so it will eliminate some current crimes that plague traditional financial services today.
USEFUL LINKS
Website: https://largocoin.io/
Whitepaper: https://largocoin.io/wp-content/uploads/2019/06/WP-v4-converted.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5200762
Telegram: https://t.me/largocoin_chat
Twitter: https://twitter.com/largocoin
Facebook: https://www.facebook.com/LargoCoinPublic
Reddit: https://www.reddit.com/r/largocoin/
Medium: https://medium.com/@largocoin
AUTHOR'S DETAILS
Bitcointalk Username: Chidoskim
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2652432