New TokenPay eFin Decentralized Trading Exchange to List XRP, Ripple’s Native Crypto Coin
As soon as the current bearish run of the crypto market began, XRP took over the 2nd spot from ETH, the longtime second largest cryptocurrency per market capitalization. This was basically because the token has strong fundamentals and Ripple was working hard to broker partnerships and promote use cases of XRP.
ETH lost more than 50% of their market cap while XRP lost only about 30%. At a point of time, XRP had widened its gap by almost $5 billion lead on the market cap.
The partnerships of Ripple had fueled this phenomenon, and it continues even now. Recently, eFin announced that XRP has been added to their platform.
XRP was just added this week by @BlocksizeDevs 🔥
— eFIN DEX 🔑 (@efinexchange) November 25, 2018
eFIN, which will finally be launched on December features a proprietary liquidity system, meaning “it will be the FIRST decentralized trading platform to actually have volume”. It is regarded as an exchange that solves the custody problem with user controlled wallets and also the privacy problem with Tor.
TokenPay is a decentralized, self-verifying payment protocol. The protocol can only be accessed through the Tor Browser. The coin aims to be one of the most secure cryptocurrencies in existence.
Like other cryptocurrencies, TokenPay’s key goal is to enable secure transactions between multiple parties. For maximum privacy, transactions are conducted with TokenPay’s own proprietary and untraceable digital asset called TPAY – this is the token used by the TokenPay protocol. Some of the key features and benefits of the TPAY token include a stealth addressing system, encrypted messaging, anonymous trading, and a uniquely designed hashing algorithm. Together, these allow for fast and secure transactions across the internet.
Through eFIN TokenPay is looking into a decentralized exchange. A DEX is a decentralized exchange and is essentially a new type of pair matching that allows people to place orders and trade cryptocurrencies without an intermediary institution managing the ledger or controlling user funds.
Because users do not need to transfer their assets to the exchange, decentralized exchanges reduce the risk of theft from the hacking of exchanges. They can also prevent price manipulation or faked trading volume through wash trading and are more anonymous than exchanges which implement know your customer requirements.