NEXT.exchange — Introduction to the future of trading
The blockchain industry is growing and maturing at the same time. With a global market cap of almost 1 trillion dollars, this has become a lucrative market for hackers and scammers. Centralized exchanges (CEX) being successfully targeted by hackers while investors on decentralized exchanges (DEX) often fall prey to buying look-a-like tokens. NEXT.exchange brings the comfort of a CEX, with the security of a DEX. A bold claim, but in this article we’re going to look how the NEXT ecosystem compares to its market competitors.
To understand what we’re trying to solve we must first understand the underlying issues of today’s market.
Centralized Exchanges (CEX) act as a custodian of the user’s digital assets. A CEX gains full control over every single asset on its platform which works more or less like a traditional bank brokerage platform, owning all client funds.
These assets are almost always collected in a few “hot-wallets” of the exchange, which as it grows is transferred into a “cold-wallet”. It makes users place all their trust in a third party to manage their digital assets. If the private key is lost or the company goes bankrupt, the user’s assets will also be inaccessible.
In addition, the hot wallets used by a CEX are a kind of “honey jars” that attract hackers or lead to internal theft, as we have seen in the brief history of digital assets.
Decentralized Exchanges (DEX) acts merely as a marketplace or routing layer. The user has full control over their digital assets through the issuance of private keys. Transactions take place peer-to-peer, from one user portfolio to another, without the intervention of an intermediary, exactly as described in Satoshi Nakamoto’s Whitepaper.
These types of exchanges offer unique wallet addresses for each user, however, decentralized exchanges are often slow & complex in use, are expensive and offer low liquidity. There is no control over the users and they have limited customer service.
What if we could get the best of both worlds, a Hybrid Exchange (HEX).
The user interface of NEXT.exchange is designed to address different user profiles. These user profiles vary between beginner crypto investors and semi-advanced crypto traders. Overall, the user experience will look and feel: simple, smooth, smart and intuitive. The NEXT.exchange user interface is therefore split into a Basic and Advanced exchange.
In a volatile market, trading on the go is a must have for every trader. In addition to the web version, NEXT.exchange is developing a mobile application for iOS and Android devices, which is directly connected to the NEXT.exchange blockchain. It offers the user the possibility to obtain decentralized access to its digital assets.
With user individual wallets we’re tackling one of the biggest security issues of centralized exchanges. While users keep control over their assets by holding their own private key, the risk of a hack attempt will decrease greatly as far less assets will be in a single wallet at the same time. In the rare case of an attack, NEXT has state of the art security in place to prevent any attack from being successful.
The NEXT.exchange blockchain is designed to handle a large number of transactions. In comparison, VISA can process 1,736 transactions per second while Bitcoin only processes 4.6 transactions. To match VISA, Bitcoin has to scale up three hundred times. Bitcoin’s blockchain is unable to do this. Ethereum has applied an improved throughput speed so that 30 transactions per second can be processed, but that is nothing compared to NEXT.chain. The NEXT.exchange blockchain is capable of handling 30,000 transactions per second. This is because NEXT.exchange has equipped its blockchain with central nodes, the so-called “masternodes”, these masternodes handle all transactions worldwide and write them on the underlying blockchain.
NEXT.coin is at the center of the entire NEXT ecosystem. It’s the blockchain’s fuel. NEXT holders have multiple benefits in our ecosystem, these include but are not limited to:
Exchange fee discount
NEXT holders have a special place in our ecosystem. They’re trading at our platform with a 50% fee discount.
Masternode Rewards
By locking 25.000 NEXT in a masternode, you contribute to the safety of the network and are rewarded NEXT by doing so. Setting up a masternode is quick and easy with our how-to guide.
Fee re-distribution
What makes NEXT truly unique is its underlying value. Revenue earned from NEXT.exchange trading fees minus operational costs are being redistributed to NEXT holders with 5000+ NEXT in their NEXT.exchange wallet. The better the exchange performs, the more NEXT holders benefit.
Conclusion
Blockchain adoption is experiencing exponential growth, and rightfully so. To facilitate this growth, a safe and secure environment is required while improving on the current User Interface and Experience. NEXT.exchange is getting ready to revolutionize the crypto space and you can be a part of it. Did you get excited about the NEXT project, join the talk at our Telegram. Want to become a NEXT holder? NEXT is tradable at P2PB2B and our very own NEXT.exchange.
