Cryptocurrency Ecosystem Community Addresses Risks that Affect Existing Exchanges
USA, January 15, 2021 RENO, Nev.—January 14, 2021—Today, Qortal announced the launch of its decentralized cryptocurrency trading platform. Developed for this new cryptocurrency, Qortal offers a solution for problems of risk, such as fraud, that are endemic to existing cryptocurrency exchanges. Qortal addresses these issues by leveraging new blockchain technologies, such as Ciyam Automated Transactions, that enable “user-to-user” trades that do not put individuals’ investments at risk. The transfer of funds happens in a decentralized manner, with no third parties involved.
“We’re retelling the cryptocurrency trading story,” said Qortal Founder Jason Crowe. “Qortal is neither Bitcoin nor a clone of Bitcoin. The built-in trading platform is the basic equivalent of a hand-to-hand transaction, where cryptography ensures that even in that type of transaction, no user can short the other.”
Qortal has launched its trade platform with the trade pair of LTC and QORT, Litecoin and Qortal. Additional trade pairs are envisioned for the future and the team welcomes collaboration with other blockchain projects. What really differentiates this cryptocurrency is that it is written completely from scratch, with features that offer value, bespoke security, native BTC/LTC/QORT support and automated creation of cross-chain trade transactions.. This is especially newsworthy in the blockchain world.
One community member, known in the crypto universe as “lyynx,” serves as a Qortal Marketing Team advisor. He shared that “Cryptocurrency exchanges are rampant with scams and hacks. Users who choose to send their cryptocurrency to an exchange run the risk of losing their funds. If something goes wrong on the exchange and funds are missing, you may have no recourse and most likely will have lost your crypto.”
Indeed, as the saying goes in cryptocurrency, “Not your keys, not your coins.” lyynx added, “Electronically speaking, when you send your crypto to an exchange, it would carry the same inherent risk as choosing to mail cash to someone. This means there is no safety net or guarantee that funds from some of these exchanges will be secure from bad or irresponsible parties. This is the problem Qortal solves. It is truly a 100% decentralized concept unlike any of its predecessors.”
Qortal is not only a cryptocurrency. It is also a “Crypto Ecosystem” which will enable future development of decentralized applications such as a free and uncensored internet. Qortal is extremely secure, offering the ability to implement and distribute a worldwide voting system as the most secure economic model to date.
In closing, we asked one community member, who identified himself as “Yopilax”, if he could summarize Qortal in a few short sentences and here was his reply.
“Qortal debuts with combined services already in function that its peers either find nonexistent or only offer individually. It is a cryptocurrency tied to an entirely separate platform that boasts custom addresses for all coins used, smart contracts, an integrated trade portal, anonymous communication with group/channel creation and 60 second transactions.“
“Qortal is a platform with more irons running than hands to use them and aspirations of replacing existing centralized communications apps in entirety by combining text, voice, streaming, URL hosting, data storage and even looking toward geographical connectivity bypass. All of that available to all common Operating Systems via Qortal. It’s a game changer!”
For more information go to https://qortal.org/