The use of decentralized exchanges has a lot of potentials to change and make the crypto markets thrive. The natural trading process they offer eliminates the security concerns that are often evident with using third-party exchanges. And his is, in fact, one of its most significant advantages.
Additionally, running the exchange on a distributed ledger could allow the users to trade without having to experience liability. So, in line with the benefits, it is obvious to seek out a decentralized exchange that is right for a trade. TRUSTBAR is an example of such exchanges, and luckily, we get to see whether or not it meets the standard of a viable decentralized exchange
What Is TrustBar?
TRUSTBAR is an upcoming decentralized cryptocurrency exchange that will accommodate global crypto traders and enthusiasts, allowing them to exchange and trade their tokens without any point of failure. The exchange will not only allow the transfer of crypto asset value but on a similar blockchain but also across different blockchains. That means the TRUSTBAR exchange will enable token exchange regardless of the blockchain.
How TrustBar Crypto DEX Cross-Chain Trading Works
Under its structure, TRUSTBAR will facilitate the seamless swapping of tokens between users holding different crypto asset from different blockchains. The exchange's foundation works to accommodate the multiple systems for a genuinely decentralized structure.
Alongside this, there is the cross-chain capability to accommodate token exchange through one transaction and under one single click. The functionality will have the decentralized exchange become the first of its kind to deploy a cross-chain feature.
Lastly, the TRUSTBAR protocol works in line with accommodating the multiple blockchains and additionally use a smart matching engine that enables trade matching despite different cryptos.
Unlike its centralized exchange counterparts, TRUSTBAR maintains a proper security option with no possible risk of attack since no user login information or holdings are targets for hackers. That is due to the distributed nature of their structure.
There is every possibility that centralized exchanges can experience sudden shutdowns or censorships. However, TRUSTBAR operates through a distributed ledger which can't experience tampering or asset seizures that are evident in centralized models
TRUSTBAR token holders in possession of more than 2000 coins will receive a share of the platform's profits on a monthly basis. The gains for the community of holders' will feature n NEO tokens
The Liquidity Lake feature enhances the user's exchange experience by allowing for seamless conversions at a base price, regardless of the token combination
Token holders with more than 500s tokens also get discounted fees within the community of members.
TrustBar TXB Token ICO Details
- Start- 31 July, 2018
- End- 21 August, 2018
- Start- 21 August, 2018
- End- 30 September, 2018
Parameters Of The ICO
- Ticker- TSB
- Platform- NEO
- Accepts- NEO
- Token price- 1 TSB= 0.33 USD
- Supply amount- 180,000,000 TSB
- Hard cap- $35,000,000
- ICO supply- 60%
- Team- 20%
- Advisors- 2%
- Foundation- 10%
The competition between centralized and decentralized exchanges is heating up, and there is an excellent promise for the decentralized models to offer the much-needed competition. Unfortunately, decentralized exchanges such as TRUSTBAR don't provide the same functionality as centralized exchanges.
Still, it remains interesting to see whether the project can develop, as there is every possibility that it could have an impact on the cryptocurrency ecosystem.