The Feelium is set to launch in just a few months, once they hold a successful ICO. In this overview we will go over, What exactly is Feelium and why does the world need this project?
The Centralized Blockchain Platform
When the blockchain was invented, the aim was to get rid of the need for centralization. However, such a platform does not work for an enterprise or government control. A distributed blockchain system does not offer the needed guaranteed for the internal activities of an institution.
For the creation of a centralized database, a UK bank created a system of digital currency with features of the blockchain. However, this system does not require multiple nodes to validate transactions. By eliminating the need for mining, the speed of operations was cut down to just a few seconds.
The centralized platform creates a new sphere of trading, which captures the balance between the regulated securities markets and the unregulated ICO markets. With the system, Feelium Tokens will be issued centrally. However, they will only be issued once a user completes the KYC/AML procedures. That way, the government can regulate an ICO if there is fraud.
Feelium – A Content Delivery Network
Feelium is housed on cloud servers. When accessed, this data is delivered via a content delivery network. This process utilizes multilayered content delivery that provides faster data transactions in secure networks. This mechanism guarantees access via any device without affecting the load time. By utilizing cloud servers, storing vast amounts of data is not an issue. Besides that, it has active security measures that make it quite hard to hack.
2 Step Verification
When the Feelium tokens are bought, Feelium will generate a private key called the Quick Access Token (QAT). The token makes it possible for the user to authenticate transfers on Feelium. It will include an exchange, a coin center of the token, a mobile wallet, and a web wallet. Any other platforms that are developed by Feelium in the future will also utilize this feature.
All Feelium platforms can be accessed with QAT. With other crypto coins, if you lose the private key, the wallet is lost. However, Feelium lets you retrieve your private once a day. This feature ensures that wallet is safe and that you will never lose access to your investment. QAT also comes with 2-step verification, which is something that other crypto platforms lack. It ensures that the user does want to transfer the amount by prompting them to enter QAT to validate a transaction.
The Smart Contracts
Feelium will also facilitate smart contracts. The process will entail both parties agreeing on a set of conditions and enter these into the smart contract on Feelium. The Smart contract will then be an automated executor of the conditions. It will allow the seller and buyer to transact without fear of fraud. Besides that, users can opt to utilise the Escrow feature on Feelium. The Escrow account will hold the funds and act as a third party trust system for the two parties.