Streamity: Completely subverting the fiat currency trading platform!

Recently, the digital currency market has performed poorly, partly because exchanges have been frequently hacked. For example, a week ago, the largest exchange in South Korea, Bithumb, was hacked, losing nearly $30 million! The frequent theft and loss of coins from exchanges has made the entire cryptocurrency community worried, like a sword of Damocles. This has also led to an increasing call for decentralized exchanges.

Everyone is paying attention to decentralized exchanges on the exchange, but they have overlooked a very important point: the decentralization of OTC fiat currency transactions. Everyone's concerns about exchanges may also happen to OTC fiat currency transactions. Now there is a team exploring this aspect. The project is called Streamity, which is committed to becoming a decentralized fiat-to-digital currency trading platform. So, how does it do it?

The first step for us to enter the digital currency market is to exchange the fiat currency in our hands for digital currency. Huobi and OKEX and other exchanges have a distinction between fiat currency trading and currency-to-currency trading. Newcomers must first purchase BTC, USDT and other currencies in the fiat currency trading area before they can participate in currency-to-currency trading.

But there are two problems with this fiat currency transaction model. First, the centralized system is vulnerable to attacks. For example, Huobi's fiat currency transactions seem to be peer-to-peer transactions, but they are not in essence. After the buyer transfers money to the seller, the exchange simply subtracts the amount of bitcoin sold from the seller's virtual bitcoin in the Huobi account, and then Huobi adds the amount of bitcoin purchased to the buyer's Huobi account. No real bitcoin transaction occurs in the middle. This is not a true P2P transaction at all!

The second problem is that there are too few currencies for fiat currency transactions. Huobi, OK and other exchanges only support the purchase of BTC, ETH and USDT with fiat currency. If users want to buy other currencies, they need to buy one of these three first, and then exchange the currency they want to buy. Due to price fluctuations and price differences, this kind of transaction will lead to direct economic losses.

For example, 10,000 yuan can buy 200 EOS, but after buying BTC and then using BTC to buy EOS, you find that 10,000 yuan can only buy 198 EOS. Where did the two EOS go? They were eaten up by the price difference and handling fees in the process of exchanging fiat currency for BTC and then for EOS! Why can't we buy EOS directly with fiat currency?

To solve these problems, Streamity developed a trading platform called StreamDesk. StreamDesk aims to build a decentralized peer-to-peer digital currency trading platform, which is more secure, has lower fees, and offers a wider range of options than traditional centralized fiat currency trading platforms.

StreamDesk itself does not store users' fiat and digital currencies, which fundamentally prevents the platform from being hacked and causing asset theft. Transactions between users are completed through smart contracts, which greatly improves the security of transactions. The entire process is automated and completely decentralized.

When a user sells digital currency, the digital currency is locked in a smart contract. When the buyer's fiat currency is transferred to the seller's account, the smart contract will be unlocked and the digital currency will be sent to the buyer. If the buyer does not pay within the specified time, the cryptocurrency will be returned to the seller.

Unlike centralized exchanges, the transfer of digital currency occurs on the real network, not the digital addition and subtraction like Huobi. The role of StreamDesk is to generate a smart contract, and the transfer of digital currency is completely and truly peer-to-peer! This is the essence of decentralization.

You can choose Yandex Money or Paypal for legal currency payment, it depends on your choice, and there will be more and more payment channels, such as the most familiar Alipay. StreamDesk will support many types of legal currency transactions, and the legal currencies currently supported are US dollars, euros and rubles.

Of course, the project team will not ignore the huge digital currency market in Asia. After all, most digital currency players are in Asia. The project team revealed that StreamDesk will soon support RMB, Japanese Yen and Korean Won. Let’s wait and see!

In addition to security, StreamDesk will also support direct exchange of more types of digital currencies, rather than being limited to BTC, ETH and USDT. For example, users can directly purchase digital currencies such as EOS, ADA, and NEO with US dollars, and users holding these digital currencies can also cash them out directly without going through intermediaries such as BTC and USDT.

Actually, think about it, who stipulated that if I want to buy EOS, I must first have BTC or USDT? Why can't I buy EOS directly with legal currency? StreamDesk's model is how trading should be!

Another serious problem with traditional fiat currency transactions is that the order price is different from the market price. For example, if I want to buy BTC and the market price is 50,000 yuan, but I find that the cheapest BTC sell order is 50,100 yuan, which is very frustrating. The same is true when selling, the buy order is always lower than the market price.

So how does StreamDesk solve this problem? It constantly monitors the prices of several mainstream exchanges, and then performs a weighted calculation to get the latest price. When users buy and sell, they must follow the latest price at that time, rather than deciding by themselves, so that market price buying and selling is successfully achieved.

The decentralized fiat currency exchange platform is Streamity’s core business and entry point, but it is by no means limited to this. Streamity will simultaneously launch different sections such as news, analysis, investor education and investment resources to better serve the platform’s users.

In the field of decentralized fiat currency exchange, Streamity has a huge advantage. It is understood that Streamity is the only one that is deeply engaged in this vertical field, and the team is strong and has gathered a group of excellent developers.

With the advent of the blockchain era, the trend towards decentralization is unstoppable. If the digital currency exchanges that are closest to blockchain have always been centralized, wouldn’t it be a laughing stock? Decentralized exchanges are the general trend, and there is no doubt about that.

Streamity has seized a perfect entry point and has taken the lead in the field of decentralized fiat currency exchange. There is no competitor yet. We have reason to believe that Streamity can truly solve the hidden dangers and pain points of traditional trading methods and bring everyone a more secure, lower-cost, better experience, and more choices of peer-to-peer trading platform!

Streamity official website: