INTRODUCTION — ERASKEN EXCHANGE
WHAT IS ERASKEN EXCHANGE?
“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution” according to Satoshi Nakamoto’s world-famous Bitcoin Whitepaper which was released in 2008. Nakamoto’s revolutionary Bitcoin Whitepaper introduced ushered in a new era of finance that would provide a more secure, efficient, and decentralized financial system than the one which we have all grown used to.
ERASKEN exchange is a hybrid exchange. This means we are recognized to be partly centralized and decentralized. ERASKEN provides peer-to-peer trading and individual wallets where the user is fully in control of his or her keys, completely in line with Satoshi and his ideas. On the other hand, we recognize ourselves as a company that is centralized and in control of the ERASKEN ecosystem which we are responsible to build and enhance.
HOW DOES ERASKEN WORK?
ERASKEN runs on its own blockchain, ERASKEN chain, which can be used to mediate a vast array of exchange activities. The ERASKEN digital asset provides holders with access to unique value offerings such as decreased trading fees, priority access to newly listed assets, access to fiat functionality, staking for coins that support a Proof-of-Stake (PoS) mechanism, and more.
Moreover, based on the amount of ERASKEN you are holding, you will receive a part of this pool once the running costs are covered, ERASKEN exchange redistributes all platform trading fees to ERASKEN holders.
To be ranked as first at user-friendly hybrid, ERASKEN will ensure that the product and services it offers are fully compliant with regulatory and legal requirements. Internally this means that ERASKEN works closely with regulatory bodies and lawyers to assess and integrate applicable legal requirements from the ever-changing regulatory landscape. Externally, ERASKEN maintains a close relationship with the Indian financial regulators: Authority Financial Markets (AFM) and theReserve Bank of India (RBI)in the process of design, development, and governance of the ecosystem. ERASKEN welcomes regulatory bodies to engage with the team and collaboratively build a future that benefits all societal stakeholders.
OUR MISSION & VISION
We aim to remedy this by providing beginner and advanced traders, investors, and institutions with a user-friendly exchange that combines the best practices of decentralized and centralized trading platforms, although the cryptocurrency market keeps growing, purchasing, selling and storing digital assets remains to be quite convoluted and in some instances even precarious.
Our intuitively easy to use exchange alleviates counterparty risk, vulnerabilities to fraudulent activities, and provides competitive transaction fees. We have an acute focus on customer service and provide a live-chat at all times. Our aim at ERASKEN is to provide healthy liquidity, security, transparency, and a pleasant user experience.
ERASKEN exchange is not just another typical cryptocurrency exchange. ERASKEN aims to accomplish more than simply tackling key pain points that the market knows right now. ERASKEN aims to support mass crypto and blockchain adoption. We aim to bridge the blockchain world with the “real” world. We strongly believe that this is critical in order to succeed in the journey towards the adoption and recognition of cryptocurrencies as a valuable asset class.
ERASKEN is part of the digital and financial revolution we are experiencing. Soon, securities will be digitalized and tokenized. People will transfer millions of digital currencies simply through their smartphones or computers to handle their day-to-day finances.
PRIMARY ISSUES WITH EXCHANGES
Centralized and decentralized exchanging, both platforms come with an assortment of downsides that can possibly overweight their potential commercial development and the gorgeous appeal of thes entire cryptocurrency industry for newcomers. The latter is particularly correct with decentralized exchanging platforms, whereas the most prominent issues with centralized trades relating to clarity and security.
Exchanges are greatly targeted and there are clear signs that we got to change the way we build our platform. The history of hacks could be an painfulone, and a trend that is not likely to stop soon.
FAKE VOLUMES AND ILLEGALS ACTIVITIES
According to a report for the month of April published by the Blockchain Transparency Established, 17 of the best 25 Exchanges were working on enormous sum of fake volume and are included in wash trading. More reports about this concerningfactorsare being published over time. This harms the nascent market of digital resources seriously, including all its investorsand companies. On top of that, centralized exchangeslack transparency.
The issues are obvious, yet most of what are mentioned above won’t change until there are clear regulatory frameworks. In the meantime, centralized exchanges request listing fees which are based on fake volumes. Not everything centralized is flawed. For the adoption of digital assets to succeed, we believe that hybrid mechanisms are the only way to go. No matter how decentralized a certain technology is, it always needs to connect with centralized structures. Therefore, as a Dutch BV, ERASKEN ensures to cooperate with regulatory bodies and acknowledged and reputable financial institutions.
One of the downsides of decentralized exchanges is that support is minimal. For example, in the case of a hack or the personal loss of your private keys, nobody will be there to help you. Full sovereignty takes responsibilities, and this is not easy for everybody. In addition, decentralized exchanges are structured in a very challenging way to understand. And gradually many decentralized exchanges might not survive regulatory pressure. However, centralized exchanges have so far been the only exchanges to refund users.16 On top of that , centralized exchanges are faster and more convenient to use, making them the first place to go for new investors.
Exchanges are the most valuable players in the entire market. When it comes to value, we are the market. This means that respecting any kind of regulation is a top priority in order to gain any sort of foothold. Having a deep understanding of the market and an experienced team, ERASKEN inspires itself on the current situation as described above. In order to succeed as an exchange, we believe it is important to take the positives of both CEX and DEX systems, creating a hybrid platform or HEX.