ICTE Blockchain is an integration of many sub-blockchains, and each facilitates the transactions of digital assets across the infrastructure. ICTE’s main distinction, when compared with other exchanges, is how its cross-blockchain transactions are executed in a decentralized way.
Decentralized exchanges are a new trend, and so the majority of them still do not facilitate cross-blockchain transactions. Decentralization has the advantages of security, custody, and transparency. In addition to decentralization, ICTE also features the flexibility of trading across blockchains.
ICTE allows users to host IEOs (Initial Exchange Offerings) and escape the drawbacks of ICOs or Initial Coin Offerings. IEOs are vetted and verified by exchanges themselves.
Let’s consider some of the inherent features of the ICTE IEO:
Latency
One of the issues most blockchains face is the inability to handle heavy transaction volumes and at lightning speed. There are notable advances to this problem, starting with the Lightning network. But what’s the deal with regard to this with the ICTE IEO?
ICTE has an advantaged as a derivative of its infrastructural model. It is a blockchain built on top on blockchains. With it comes a component where transactions are matched across the global host of exchanges by the nodes, combined with high-level message integration with cloud storage and synchronization features.
The satellite exchanges capture the transactions and escalate the same to other exchanges and in consensus with the main/alpha server. The network of satellite exchanges ensures relay of requests across the network even in cases when some may experience downtime.
Liquidity
ICTE has a unique architecture that runs within their ecosystem that synchronizes its blockchain to a single universal book that is a master-record of all its transactions. From its various satellite exchanges, ICTE infuses a matching of multiple-blockchains, whose liquidity is an aggregate of all of them. Most user transactions occur in ETH or BTC tokens, but ICTE will phase that out by offering value matching and transactions in any digital token. Individuals with the requisite expertise can join regional exchanges within the ICTE network. The multiple exchanges on the platform create more opportunities for best offers in pricing combined with a wider base of liquidity for all the participants.
Security
ICTE offers a unique model within its security features. The decentralization of the exchanges is a big part of it. That means at no one time, can the whole system suffer from a DDOS attack. The wallets released under the ICTE Blockchains data and information are encrypted to ensure that staff cannot decipher the amounts related to any wallets. Additionally, ICTE have in place a team of professionals to carry out tests and factor-in top-notch security credentials across the networks.
Custody
The ICTE blockchain is built for robust functions within the digital assets industry. Its prime functions are the matching of multiple blockchains, facilitating trading on a peer-to-peer basis, and acting as the authority to trade within brokerage provisions.
This is combined with the fact that users retain ownership of their tokens. Unlike centralized exchanges, users do not deposit the funds in a central exchange account. If the exchange shuts down, a user’s money will still be in their custody.
Trade Speed and Security
ICTE is ahead of the curve when it comes to party identity and their validation, which is done by satellite exchanges. As for the trading speed, every transaction has a clearance time-lag of only three seconds. This paves the way for other tasks to be taken up by the network. These include synchronization and updates to the global book of transactions.
When it comes to asset security, users are allowed to deposit funds via a smart contract that is based on the ICTE Blockchain. The module ensures that the custody of private keys remains with the depositor of the funds.
Professional Trading Interface
Willing parties can set up an exchange with very minimal initial outlay. By inviting regional exchanges to take part, teams must have the professional expertise to harmonize the exchange and tap into the vast arena of both expertise and assets within the ICTE Blockchain. Being integrable allows users to access the systems via desktop and mobile interfaces.
Customizable
ICTE enables users, through open source code, to enhance their experience within front-end interfaces. Exchanges can also port into the ICTE Blockchain by exploring APIs friendly to most users. They include Android, iOS, Mac, Universal Windows, and Windows Desktop.
Immutable
ICTE’s engine is able to facilitate orders, match them across the blockchain, and facilitate transaction completion procedures with fault-proof irreversibility. To enhance that feature, any exchange joining in is pre-vetted to ensure they meet the standards that match-up with the network.
Conclusion
ICTE Blockchain is undeniably a game-changer within the industry. Being able to bring uniformity in the way assets are exchanged for others is a huge benefit. It offers a solution to problems of scalability, security, liquidity, and is decentralized all across its features.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity’s role is to inform the cryptocurrency and blockchain community about what’s going on in this space. Please do your own due diligence before making any investment. Blockmanity won’t be responsible for any loss of funds.
Originally published at https://blockmanity.com on August 3, 2019.
