BaseCore Security Token Platform Releases Decentralized Cryptocurrency Exchange Protocol
BaseCore Introduces Decentralized Cryptocurrency Exchange Protocol
BaseCore has established the BaseCore token to solve the challenges that are associated with investing in Initial Public Offerings (IPOs). The BaseCore token is a stablecoin that is backed by several high-valued private IT companies to eradicate volatility.
Expectedly, the BaseCore token leverages blockchain technology and is designed for retail investors who are interested in promising startups in the IT industry. However, owning BaseCore tokens does not equate to being a shareholder in the IT companies. Rather, investors earn profits from the capitalization and growth rates of private IT startups.
The name BaseCore is derived by the two components that make up this stablecoin; the ‘core’ and the ‘base.’ The ‘core’ is typified by the token’s value. The price of the BaseCore token is determined by several factors, including BaseCore, and the value of assets offered by leading IT firms such as Airbnb, Zenreach and Palantir. The ‘base’ redemption price is not affected by the volatility of cryptocurrency markets.
The BaseCore project runs on Excalibur, a protocol for decentralized security token exchanges.
The Excalibur Decentralized Exchange
A majority of existing crypto exchange platforms are centralized. This is the primary cause of most of their availability and security issues. For instance, EtherDelta has a poor user interface that makes it had to use and understand. Contrariwise, the Excalibur exchange features a responsive design with an interactive user interface in a single-page platform that is driven by the latest and secure IPFS protocol. This ensures that the trading platform is fully decentralized.
IPFS (interplanetary file systems) is a peer-to-peer protocol that increases the security, accessibility and speed of the internet. IPFS was created by Protocol Labs. Currently, the Excalibur exchange is undergoing a private alpha testing phase within the Koran Network.
After the launch of Excalibur, investors will have the opportunity to create their own security subjecting to passing the KYC and AML procedures deployed on the BaseCore platform. Other features that users will access include trading ERC20 standard security tokens, margin trading, conducting ICO crowdsales, investing fiat currencies, and establishing security token pools.
The volatility of the crypto markets is largely as a result of the lack of clear regulations as well as inadequate participation by institutional investors. Specifically, the lack of a crypto regulatory framework provides a conducive environment for manipulators and speculators. Last year, the US Securities and Exchange Commission classified several utility tokens as securities. In this regard, SEC Commissioner Robert Jacksons labeled the ICO market as an unregulated securities market. ICOs are victims of this regulatory uncertainty, as investors are unable to differentiate between legitimate projects and scams.
The increasing prevalence of security token offerings is proof that the digital assets market is nearing maturity. Unlike ICO tokens, security tokens are backed by investment contracts. This means that they have a reduced risk factor.
According to Crunchbase, 23 startups are expected to exceed a market cap value of $10 billion by the end of the year. Often, retail investors are barred from investing in such companies, most of which are currently valued above $1 billion. This is because a majority cannot afford the shares or meet the stringent requirements set by the startups. However, BaseCore intends to change this by affording an opportunity to average investors to invest in private IT corporations regardless of their financial muscle.
In the future, BaseCore will regularly update the Excalibur exchange to add new features and functionalities. Some of the features that are being lined up include an intuitive dashboard that allows the user to view account balance, ability to create a stablecoin using fiat currencies and ability to use a hash to create private crypto exchanges. Lastly, BaseCore is also working on desktop and mobile applications.