The crypto market may be heading towards a promising future, but it is facing a challenge that only a few experts are addressing. The foundation of any existing exchange medium, at present, is based on a centralized platform - they are not real exchanges and have a model similar to Travelex.
Having a centralized baseline itself is dated and limits crypto’s potential, further bringing along lurking threats and the possibility of fraudulent activities. To bring elasticity and further the growth of crypto exchanges, the founders of ICTE have launched a decentralized cross-blockchain exchange model.
One of the problems with the present exchange model is it offers minimal liquidity, which is not viable for traders looking to trade across exchanges, and it requires depositing and blocking of capital on each trade. Another problem is the unavailability of cryptocurrencies other than Bitcoin and Ethereum, which again limits a token’s liquidity.
Furthermore, the frequency of malicious attacks and online scams on centralized platforms put asset and identities at risk.
ICTE consists of regional cross-blockchain exchanges that transform the traditional cryptocurrency model of exchanges and creates a liquidity pool on a global level for distributing clients in order to streamline and secure management of digital assets.
With ICTE, both existing centralized exchange users and new users gain a multitude of benefits, for example:
- Products and service providers for digital assets
- Peer-to-peer (P2P) trades for wallet holders
- A platform for institutional and algorithmic traders
The ICTE model focuses on a decentralized network that distributes clients and in return, minimizes risks like cyber attacks, single point of failure, and denial of service events.
The global and regional pools are liquidated for each digital asset to provide a trading ecosystem best suited for institutional traders and a real-time settlement system backed with advanced security that the existing centralized exchanges lack.
What ICTE brings to the table?
ICTE incorporated the newest low latency technology to handle load comparable to the entire crypto market. The objective here is to diminish problems like latency, security, liquidity and custody levels, which are associated with centralized exchanges.
What ICTE brings to the table is what a lot of other players are trying to achieve: low latency. With a combination of distributed cloud computing, custom messaging system, and a state of the art blockchain architecture, ICTE achieves the desired low latency. Meaning scattered nodes across the world can be contacted much faster resulting in faster processing compared to the existing crypto exchanges.
The network comprises of new and existing exchanges operating a standalone and global liquidity books. ICTE enables the development of unique and diverse liquidity by allowing multi-blockchain matching. As said earlier, the present token exchange doesn't offer a variety of cryptocurrencies and are mostly limited to Bitcoin and Ethereum. ICTE destroys the barrier by allowing entities to trade on local exchange while staying within the ICTE network exchange. This helps each participant get the best prices and the most liquidity.
The biggest threat to centralized exchanges is security. The numbers of malicious attacks cripple the system, and since there's no better exchange, people have no option but to use it. With ICTE cross-blockchain, the whole scenario gets turned upside down. As this cross-blockchain network depends on several blocks and nodes backed by cryptographic encrypted IPFS hash, the threat of hijacking is reduced to a bare minimum.
The ICTE network supports all the existing trade models except centralized exchange. The concept behind this idea was to create a system that handles P2P wallet trades, allows for multi-blockchain matching, and also has room to trade on a custodian's name or Prime Broker.
Accessing and trading on ICTE market is relatively simple thanks to its user-friendly environment. Users can access their wallet and login to their preferred node on an ICTE exchange.
The process is fast with each transaction taking as low as 3 seconds, and Proof of Work implementation makes sure every transaction remains secure and anonymous. That is not all, trading fees on ICTE exchange is way lower than what other exchanges are charging.
ICTE has been working on the cross-blockchain decentralized network for about 2 years and is successfully utilizing the benefits of fast and secure operations. If anything, ICTE is here to disrupt the traditional and somewhat of burdening and dated exchange system.