ParamountDax - Not Just Another Crypto Exchange

Cryptocurrency transactions are anonymous, untraceable and have created a niche for illegal transactions, like drug trafficking. Because the currency has no central repository, law enforcement and payment processors have no jurisdiction over bitcoin accounts. For cryptocurrency supporters, this anonymity is a primary strength of this technology, despite the potential for illegal abuse, as it enables a shift in power from institutions to individuals.

Meanwhile, a trader has to pay huge commissions to conduct transactions on large exchanges. And, of course, these transactions will not yield obvious benefits, because of such fees. To achieve significant success within a large exchange, it’s necessary to work there for at least 6 months and all this time to be at least at the same level of assets, but it is almost impossible. With the introduction of blockchain into the exchange trade, all participants at the entrance have equal opportunities and differ only in their own assets, which they can provide with physical values.

There have been numerous troubles endured by the merchants because of the trade platforms which incorporate trouble in the utilization of the trade platforms. Some trade platforms are not easy to understand which this has caused a ton of issues for merchants as of late. Brokers dependably search for exchanging platforms with great interface before starting an exchange such trade.

ParamountDax is a fully developed from the scratch, ready-to-use product implemented as a modern-age crypto trading exchange. It aims to revolutionize cryptocurrency trading by serving as an ideal platform for crypto-to-crypto and crypto-to-fiat trading while also solving the issues faced by today’s crypto industry. ParamountDax aims to provide a sophisticated trading platform that really caters to the needs of the crypto community by offering intuitive user interface, instant liquidity, multilingual and real-time customer support and by enabling seamless, secure and riskfree trading opportunity at minimal fee.

ParamountDax allows you to manage all your digital assets effortlessly in a trading exchange that offers you:

• Seamless, secure and risk-free trading opportunity at minimal fee
• Intuitive user interface
• Instant liquidity
• Multi-lingual and real-time customer support.

The ParamountDax wallet is made to support swift management of your crypto trades. For that, ParamountDax created a platform that includes:

• Over-the-counter (OTC) trading: the first OTC crypto trading desk in Europe, ParamountDax enables seamless operation of large crypto assets without the need for an escrow or a lawyer. Institutional trading made easy
• Dedicated trade indicator that tracks and assists you with any profit or loss real-time data you need.
• 46% Daily Profit Share
• Stop limit options and stop loss orders that empowers you to take more efficient decisions
• Custom API allows the platform to benefit from continuous improvement from third-party developer contributions.
• Customizable dashboard
• Strong referral benefits

The Solution Offered

Security issues solved follows a two-way approach to ensure the security of both users and the exchange. The steps are:

• Ensuring user security
• Ensuring exchange security

User security

Some of the protocols for user security are:

• Two-factor authentication

In order to log in to the ParamountDax website, a user won’t be allowed simply through a ‘login + password’ access type. ParamountDax will enforce a secure 2FA protection for the client. By default, weak 2FA like OTP/Google Authenticator / SMS won’t be authorized or will be only temporarily tolerated, since these methods are vulnerable to phishing attacks. This way, similar attacks to the one on Ether Delta will be avoided.

• Password strength assessment

In order to ensure the password remains as strong and difficult to guess as possible, users are allowed to generate passwords that exceed the minimum of 8 characters. Moreover, passwords have to be a combination of case sensitive letters, numbers, and special symbols.

• Account creation email

A user needs to verify their account via the email that he/she has signed up with. This ensures that in the future, a user will be able to recover their account if they have forgotten their login ID or password.

• IP address verification through email

A user logging in to their account is allowed to access their account only when they are logging in from a verified IP address. For a new IP address, the user needs to confirm via a confirmation link emailed to their verified email (the one the user account has been created with).

• IP address validation on withdrawal

For every new withdrawal, a user needs to validate their IP address through the registered email.

• Email notifications

For every login, successful or not, a user is notified via email. Similarly, a withdrawal is also notified via registered email.

Exchange Security

• Secured protocol

ParamountDax has implemented security protocols such as: Secure Header on HTTP Request / Response such as: X-Frame-Options, X-XSSProtection, HTTP Only, Set Secure flag.

• CSRF protection

Cross-Site Request Forgery (CSRF) protection for victims of fraud will be reported to the Administrator.

• Avoid suspicious

Suspicious users will be prevented by the xss-clean method which also prevents the malicious file from uploading.

• Authentication & detection

Authentication & Detection will be provided by ParamountDax to make the transaction fulfilled by the participators to the trade.

• Prevent DDoS attacks

The DDoS attacks can be prevented using periodic penetration testing, Custom WAF rules, security notifications, etc.

• Secure web services

ParamountDax will offer a highly available and customized DDoS shielded hosting solution with network and application-level firewalls. ParamountDax will use secure HTTP headers like HSTS to enforce TLS encryption, and keep the passwords salted and hashed.

• Security audits

In order to ensure maximum security of the exchange, ParamountDax will conduct a periodic security audit so that vulnerabilities are avoided. For trader’s patience, ParamountDax will sign a regular contract with some External Audit Agency. The name of Company Audit will be communicated soon through official ParamountDax social media channels.

Features on the ParamountDax Platform

• Liquidity offered

In order to solve the liquidity issue and allow users to instantly trade their digital assets, ParamountDax will be adding its order book to a collective pool server—an order book shared among various crypto exchanges. This way, even if there isn’t enough liquidity on the exchange, it will get available through the collective pool. This enables users to quickly transact their trades.

• Faster network speeds and instant transactions

ParamountDax exchange will be able to support in the launch stage up to 100,000 transactions per second. As the community and user base grows, it will continue to scale out and optimize the exchange to support a much higher performance with a goal handle up to 1,000,000 transactions per second with the latency of transactions is as low as 50 nanoseconds.

• Privacy ensured

ParamountDax allows users to get control of their digital assets i.e. the crypto they hold directly in their wallets and to trade without having to worry about their privacy getting shared with a third party. All data gathered for KYC protocol is encrypted. Only the user, KYC provider and the platform can access it.

• User - friendliness

Moreover, the exchange offers a Single Page-All Features capability that allows traders to access all features on single page without having to scroll down to the access order book, trade history, depth chart or other important information. Hence, whether a veteran trader or a nascent crypto lover, both kinds of users will have the perfect trading experience.

• Multilingual support

Being a platform that envisions itself at a global level, ParamountDax don’t want the communities to be restricted by language barriers. The platform supports all major languages including but not limited to - English, Chinese, Japanese,Korean, Italian, Hindi and Russian. More languages will be added as per community growth and team expansion.

• Cold wallet storage

With traditional exchanges, in case of an attack, all data and funds located in the wallets are at risk. This scenario is different with ParamountDax: the extent of damage is limited since the majority of the user tokens is stored in cold wallet storage. Keeping a majority of crypto assets in cold storage means that only funds that are needed immediately to process withdrawals are made available to the exchange systems.

• Friendly and efficient costumer support

ParamountDax knows that customer support is vital when it comes to crypto industry considering its early adoption phase. Thus, the dedicated team of professional customer support specialists will ensure that friendly and responsive customer support is provided to users 24/7 all year long. All requests submitted will be taken care of within 24 hours, unlike other exchanges where it takes weeks or months for the solicitors to get responses.

Token Details

• Ticker: PRDX
• Type: Utility-token
• Blockchain Platform: Ethereum
• Token standard: ERC20
• Pre-sale token supply: 25,000,000 PRDX
• Token supply: 40,000,000 PRDX
• Total tokens for sale: 75,000,000 PRDX
• Soft cap: 1,750,000 USD
• Hard cap: 9,310,000 USD
• Token price in USD: 1 PRDX = 0.15 USD
• Accepted currencies: BTC, ETH, USDT, B2BX, DASH, LTC, NEO, XRP, PAX,BNB (EUR / USD)
• Country limitations: USA
• Registration country: United Kingdom

Token Distribution

• 2% Bounty Bonus
• 10% Angel Investors
• 65% ICO Participants
• 23% Team

Funds Usage

• 22% Initial Development Cost
• 12% Liquidity Reserves
• 11% Team and Advisory Board
• 33% Marketing
• 22% Emergency Reserves

Road Map

Q3-Q4 2017

• Idea conceptualization and research.
• Team hiring

Q1-Q3 2018

• Team expansion.
• Wallet development started

Q3-Q2 2018

• Platform Development started

Q3-Q4 2018

• PRDX campaign initialize.
• Website launch.
• Smart contract and token creation

Q1-Q2 2019

• Pre ICO Sale.
• Community development started.
• Whitepaper release V.1.6
• Main ICO sale.
• Participation in major crypto and blockchain events and conference

Q3 2019

• Token release
• ParamountDax exchange release

Q3-Q4 2019

• iOS app development started
• Android app development started
• TFC (trading from chart / advanced) release
• Hiring product designers and community managers
• Wallet release
• Release of multi token supported Smart PRDX wallet

Q4 2019

• Mobile version release IOS/Android

Q1-Q2 2020

• Merchant agreements
• OTC section release

Q3-Q4 2021

• Dedicated blockchain release
• Decentralized exchange release

Team

For more information, please visit:

Website: https://www.paramountdax.io/
Whitepaper: https://www.paramountdax.io/whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5137789.0
Telegram: https://t.me/ParamountDaxICO
Facebook: https://www.facebook.com/Paramountdax-2024636494500768/
Twitter: https://twitter.com/ParamountDax
Medium: https://medium.com/@paramountdax
Reddit: https://www.reddit.com/user/ParamountDax

Author: JigaMola
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1847143