ECRO P2P: Secure Cryptocurrency Exchange |
432

ECRO P2P: Secure Cryptocurrency Exchange

The most principal reasons why most entrepreneurs haven’t implemented blockchain into their business models yet are issues related to sufficient cryptocurrency liquidity, security and transparency of transactions.

Money is the circulatory system of the global world of finances. Each process depends on money. This is somewhat similar to a healthy body: there must be a certain amount of blood, no clots, and nothing must get in the way of its flow.

The ECRO System consensus platform was created for the development of business, innovative projects and products using blockchain technologies and artificial intelligence. The ECRO ecosystem that offers lots of special services was created specifically for that this very purpose.

To create a constantly growing network consisting of manufacturers and consumers was one of the reasons for the emergence of such an independent and decentralized community.

ECRO products allow platform users to grow their business, tokenize it increasing  its capital gains, and much more.

One of the important elements of the ecosystem is ECRO P2P platform.

Using the platform, members of the crypto community from 57 countries all over the world will be able to buy or sell liquid crypto assets.

This product meets the requirements for exchange transactions, namely security and speed.

All transactions will be made between users of the platform, and the Safe Transaction function guarantees protection against non-trading risks (i.e., risks that are not related to exchange rate fluctuations).

Users will be able to exchange cryptocurrency for fiat money, or for another cryptocurrency from the list of among available offers, and assess the counterparty’s reputation. So each user will receive a rating that demonstrates the potential security of transactions when working with that counterparty.

The key aspect of the security of the exchange process is the deposit principle principal.

For example, when selling EDC coins for fiat money, coins are transferred to the platform reserve. After receiving money from the buyer to their account, the seller informs the system that the transaction has been successfully settled. Then the platform sends the buyer EDC coins from the deposit account. This way, any form of fraud or manipulation is excluded: the buyer is protected, the seller can’t steal their money.

The launch of the atomic swaps functionality will further increase opportunities for exchanging. This will significantly reduce costs by increasing the exchange speed.

When dealing with atomic swaps, the user doesn’t need a third party interference. The difference is that the crypto assets are not kept by third parties (including the platform), but are circled through smart contracts within the blockchain. The payee confirms receiving the funds by generating a cryptographic confirmation before the deadline is over. Otherwise, the transaction is invalidated, and the funds are returned to the sender.

ECRO offers only advanced blockchain solutions and products, following the strategy of potential leadership in the industry and focusing on the needs of manufacturers, consumers and crypto enthusiasts around the world.

Official website of the project: www.ecrofund.com

up