A new company aims to become the leading European exchange by placing emphasis on regulatory compliance. Another feature of the new exchange is the integration of decentralized features like atomic swaps to grant better privacy, lower cost and higher scalability.
A new exchange — Blockchain.io — intends to keep detailed accounting records and have them regularly audited. These measures are meant to ensure that the funds of their customers are safe from governmental seizures or freezing. The company promises a whole range of extensive efforts to comply with local and international jurisdiction, even for future regulation.
The exchange pledges to feature “reliable infrastructure” that will let it reduce the downtime to a minimum. Moreover, Blockchain.io also promises DDoS protection, high throughput and absence of the so-called “technical debt.”
To keep the platform free from technical debt requires any new feature, cryptocurrency or token to be thoroughly reviewed by experts before being added onto the platform. Also, the exchange promises to keep at least 98 percent of its funds in cold storage, which has a multisignature wallet. The keys to this wallet will be held in multiple separate locations to ensure that no unauthorized access to the funds can take place.
An exchange meant for all users
The company plans to offer many different order types to ensure that the needs of both expert and new traders are addressed. There are also plans for a peer-to-peer (p2p) lending feature that will let users borrow from a centralized fund managed and maintained by the exchange. The fees of such transactions will be determined by supply and demand.
The white paper of the company states that the exchange will combine the positive aspects of centralized exchanges and decentralized settlements. The document clarifies that such settlements will allow users to settle transactions across different blockchains without relying on third parties. The reason why the company has chosen such a system is to eliminate problems with privacy, scalability and costs that are inherent in the Bitcoin blockchain.
Blockchain.io also intends to help ICOs by offering their legal, marketing and financial expertise, though only projects meeting some strict requirements are eligible for this service. The projects are required to be high quality and have experienced teams. The companies that met all those requirements are then voted on by the community before getting approved.
All of those requirements are meant to generate a platform where only high-quality and viable projects are present. Still, the projects that met all the aforementioned criteria will be eligible for having their ICO managed on their behalf by Blockchain.io, in exchange for a percentage of the acquired funds.
A project led by experienced players
The development of this exchange is led by Paymium.com, a European exchange active since 2011, which has been defined as the first Bitcoin exchange conformable to European regulations.
However, experience isn’t the only thing that Paymium is bringing to the new platform. Paymium claims it will grant its 170.000+ users Blockchain.io accounts, alongside with incentives to use the new exchange.
The token sale of this project will start on Sept. 27 and in November — when the sale ends — the exchange will start its activity.
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