Planned initiatives include launching a hybrid exchange platform that effectively addresses the drawbacks of today’s centralized and decentralized exchanges
NEW YORK, Aug. 09, 2018 (GLOBE NEWSWIRE) — via CryptoCurrencyWire — DeviantCoin, a proof of stake and masternode crypto-asset focused on providing the best user experience with complete security, today provides an overview of the foundation that has been laid while highlighting the most significant roadmap milestones ahead.
Innovative Anonymity and the Successful Integration of Key Features
DeviantCoin was launched with the primary focus to provide a secure crypto experience. Today, its community has a decentralized network in place that ensures secured transactions, encrypted messaging, stealth address for complete anonymity, a reduced number of necessary confirmations, and low transaction fees. Akerboya, Streetjammer, Cripdark and Nightcrawler are part of the growing team of leaders committed to continuing development activities and community growth.
A Novel Approach to Addressing Today’s Unmet Needs for Secure Storage and Exchange
Most crypto-asset exchanges are centralized as privately owned and registered businesses in a specific jurisdiction, but there are certain disadvantages that are common among them all.
Primary drawbacks of centralized exchanges:
- Managed by human beings who hold and control the assets of their customers
- Subject to unstable regulatory environments around the world
- Ongoing incidents of unethical practices, embezzlement and theft via hacking
Decentralized exchanges provide a viable alternative to centralized exchanges. And, like the crypto-assets themselves, they facilitate peer-to-peer trading on a distributed ledger that is not coordinated by a single entity. This eliminates many of the common challenges of centralized exchanges. However, there are still various challenges that remain unaddressed.
Primary drawbacks of decentralized exchanges:
- Non-intuitive and difficult-to-use interface degrades user experience
- Poor to non-existent customer support is common
- Limited functionality without the ability to use stop losses and margin trading
- Only low-frequency trading is possible since settlement relies on block confirmations
Providing a Hybrid Solution for the Cryptocurrency Community
DEVX, a hybrid exchange being built by DeviantCoin developers, will be launched as a new crypto-assets trading platform that draws from the best elements of centralized and decentralized exchanges. It is being designed to offer the speed, responsiveness, efficiency and user experience of a centralized exchange while preserving the transparency, security, integrity, accountability and user control of a decentralized exchange.
“In addition to functioning as an exchange, DEVX will also be used as a fully decentralized web wallet with direct access to multiple blockchains,” stated Akerboya, chief visionary of DeviantCoin. “We’ll also introduce a fully decentralized hardware wallet that works on the same platform. This adds to the security of the platform by enabling hash keys to secure your web access with additional 2-Factor Authentication.”
A whitepaper with colorful illustrations explaining the design of DEVX can be found at the following link: https://deviantcoin.io/
About the DeviantCoin Community
DeviantCoin, a crypto-asset created via blockchain technology with the purpose of providing a secure mode of the crypto experience, is represented by a community of countless people who have the coin’s wellbeing and future goal at heart. The individuals within this group that participate in development are considered the backbone of the coin. Recognizing the importance of a vested following, DeviantCoin belongs to those who use it and not just to the developers who aid its progression.
To learn more about DeviantCoin, visit: https://deviantcoin.io/
Ways to Engage with the DeviantCoin Community
Discord chat via https://discordapp.com/invite/
Telegram chat via https://t.me/DeviantDEV
Twitter social media via https://twitter.com/
Facebook social media via https://www.facebook.com/