YUSRABLOCKCHAIN TECHNOLOGY DEVELOPED IN THE WAVES PLATFORM
Welcome back to my article, today I will give you some knowledge about the wave platform and a project that has applied this wave platform to further develop their technology with called #YUSRABLOCKCHAIN.
Introducing the waves platform
Waves is an open, decentralized blockchain platform that allows people to issue digital currencies and build their applications.
The Waves platform has the same functionality as Bitcoin and extends beyond the monetary value framework. Founded by Sasha Ivanov in early 2016 after the programmers changed plans and created a controversy in the community.
What is Waves technology?
Waves is a platform created for both professional and amateur users. The universalization of all users is the most important goal. This shows that Waves Wallet is easy to use. In Waves, there is compatibility of user interface and traditional banking applications, along with a quick installation process through the Lite Client wallet.
In addition, users do not need to install blockchain to use the wallet. Other service companies can create their applications easily through the Waves public API.
Waves provide the ability to raise funds
The Waves platform also provides the ability to raise funds through a shortened version of the Waves e-wallet.
Waves took advantage of the exchange process and the unorthodox solution to switch between tokens and cash to build a fully functional trading system that is both as fast as a centralized system but no security issues thanks to Matcher, the asset-asset exchange process, and the innovative token approach.
Convert cash and cryptocurrency
This is handled through the Waves cash gate. Waves cash portals are operated by suitable gateway operators, who are organizations (e.g. payment service providers), so that users can easily convert their cash to tokens on Waves blockchain.
Users can then withdraw those representative cash tokens and convert them into real cash after they receive it. Other cryptocurrencies can also be converted into tokens on the Waves blockchain, such as BTC, the corresponding unit of Bitcoin on Waves has a value of 1: 1 compared to real Bitcoin.
Wave dex- Products in waves platform
Currently, coin and token trading is done on exchanges and we have two types of exchanges: decentralized exchange (DEX) and centralized exchange (CEX). )
_ Centralized exchange_
The architecture of centralized trading floor is quite similar to that of a bank. Both are organizations that act as intermediaries and keep money safe, liquid, and allow people to easily transfer assets from one location to another.
Advantages of centralized trading platform
Like banks, the majority of centralized exchanges are centralized. This means that a reliable, central authority exists for the safety and control of this platform. Just like a bank, investors provide centralized exchanges with control of their digital currencies. By doing so, investors give access to wallets to third parties and take away the burden of controlling 100% of their own money.
This is good for investors when they are provided with a level of protection and peace of mind that they would not have had if they were operating independently. There have been reports and rumors about people losing millions of cryptocurrencies due to the loss of private keys. Exchanges prevent this from happening. Crypto exchanges provide investors with protection in the form of easy access to their capital. If they forget or lose their password, after performing the necessary verification, the exchange can help them regain access to the account. This is the same as at banks, if you lose your debit card, you simply ask for a new card after verifying the information.
Centralized exchanges also stabilize the market and allow investors to buy and sell their assets at a stable price. This is because the large amount of tokens they hold helps stabilize the market and allows investors to trade tokens relatively easily.
Advantages are shown as below:
• Trading volume: Large
• Liquidity: Large
• Low cost
• High speed
• How to use: Easy
• Features: Many
• Identity authentication: Yes
However, the centralized nature of these exchanges, along with their fledgling regulatory status, has raised concerns. It is estimated that one in every 16 Bitcoin is stolen. When a hacker invades the system and appropriates private keys, all of them will "fly without wings". (Or rather, everything is not stored in "cold wallets", there is no connection to the Internet. Many exchanges try to ensure that most of their reserves are not connected to the Internet, thus providing add an extra layer of protection).
In short, that's the situation that happened in the hasty hack of Mt. Gox hack (2014), Bitfinex (2015) and more recently CoinCheck (2018). Besides the long history of hacks, every exchange faces concerns over price manipulation, reflected in a recent Justice Department poll.
In summary, the points of support and opposition to centralized exchanges are:
· Advantages: Familiar interface, easy to use and good customer support
· Disadvantages: Hacker target, high cost and lack of privacy
Decentralized exchange WAVES DEX
The aforementioned shortcomings lead us to the type of decentralized exchange (DEX). Many people in the crypto community are supporting this type of floor as hard as they can.
"99% of cryptocurrency transactions still go through centralized exchanges, this trend is expected to be reversed in the coming years" - Nathan Sexter, Consensys.
After all, the attractiveness of cryptocurrencies partly comes from the idea of decentralized Internet - a platform where no single party controls the data. In that case, why do centralized platforms control the exchange of crypto assets? People often call this problem "dogfood", or not implement what you teach.
For example, WAVES DEX operates in combination and executes orders via smart contracts. Waves DEX currently processes around $ 6 million in daily trading volume. Other exchanges are still in development or testing phase. Waves Dex is a decentralized cryptocurrency exchange of Waves cryptocurrency and Blockchain. Waves Dex by giving you control of your funds on the Blockchain and speeding up the transaction process using a decentralized service. This way you get the best of both centralized and decentralized exchanges. Waves Dex is a decentralized cryptocurrency exchange built on the Waves blockchain. It allows users to trade their BTC / ETH / ETC. They can exchange for Waves (or any other asset token issued on the Waves platform).
Theoretically, WAVES DEX is the perfect solution for concerns arising from centralized exchanges. They charge a "light-handed" fee, and are transparent because they can check the code table, also more secure because you control your wallet.
I am a trader and have traded on Waves dex. A decentralized exchange, I highly appreciate the following factors:
Security: Waves dex decentralized exchanges do not store user assets. Therefore, hacker attacks or the collapse of exchanges cannot lead to losing money. Since they don't have a single entry point, people can access all assets and data, hinder the work of hackers and make an attack pointless, which distinguishes Waves dex from Centralized exchanges are regularly hacked.
Low manipulation risk: Another advantage of this Waves dex is the minimal risk of price manipulation or trading volume distortions, because there is no centralized structure that easily leads to manipulation inside the exchange.
There are no personal accounts on the Waves dex exchange, there is no need to verify and not even specify an email address, so the user's personal data cannot be stolen. This structure makes distributed registry-based services more anonymous than exchanges that require user authentication for KYC process compliance and AML anti-money laundering purposes.
High independence, not dependent on regulators: The distributed architecture protects the Waves dex trading platform from local or international government intervention. In the case of a centralized structure, regulatory compliance means that the exchange may be fully or partially blocked, in which case the service is restricted in terms of location or options.
Access to various projects: In contrast to its centralized cousin, Waves dex not only supports the arrangement of orders for existing cryptocurrencies, but also creates transactions. new directly in the system. This allows startup projects to provide minimum liquidity, without having to pay high fees for placement on key platforms.
Introducing the YUSRA cryptocurrency #Cryptoyusra
At the beginning of the article I mentioned a project developed on the Waves platform, that project is called YUSRA. Yusra cryptocurrency is developed based on the wave platform. A platform that can be said to be the best today in the world of cryptocurrencies. It is the best because the wave is very simple, user friendly interface, extremely reliable, handle a large volume of transactions and especially the security is greatly appreciated. Proof-of-stake (PoS mining) algorithm is integrated into #YUSRA to accelerate processing and confirmation of transactions in the YUSRA network. The Proof-of-stake (PoS mining) process is a complex system with block and transaction interactions. The process is fully automatic, it cannot be changed and resisted changes due to external factors. Therefore, the system is not hacked, the security is very high. You can also get your reward for participating in PoS mining.
I pay attention to Yusra because their ideas and Yusra products show many positive aspects, maximizing the advantages of the Waves platform:
• Yusra with the advantage of processing at high speed. More than 500 transactions will be processed in 1 second. Scalability will be up to 25 thousand transactions in 1 second in the near future.
•_ Decentralization_. A completely free system, with no 3rd party regulatory agencies to intervene and various intermediaries.
• Liquidity. Liquidity is the core issue that any project wants to exist must have. Of course, there will be an exchange to trade their crypto assets and withdraw their funds.
• Completeness anonymity. Yusra uses blockchain technology to build their platform, users will be safe and all their personal data will be encrypted and stored, no one can interfere or steal information customer.
• High level security. A multi-level platform security system will be used.
You can refer to more information about the project via the website: https://yusra.global
How to sign up to invest in the Yusra project
- You access the following link: http://app.yusra.global
- The registration interface is as follows:
- You fill in the necessary information: username, email and password.
- So you have successfully registered!
- You log into the account you just created. You invest through the purchase of YUSRA tokens with ETH or BTC.
Conclusion: This article I have introduced you to the waves platform and the Yusra project was developed based on this platform. I also introduce you to the opportunity to invest in this promising project. Think carefully and find out before you invest.
For information about the project, please visit:
- Website: https://yusra.global
- Web-wallet: http://app.yusra.global
- Twitter: https://twitter.com/YusraGlobal
- Instagram: https://www.instagram.com/yusra.global
- VK: https://vk.com/yusra.global.blockchain
- Telegram: https://t.me/YUSRAGLOBAL
- Medium: https://medium.com/@YusraGlobal
Author: thanhquyen0212
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2622451