Centralized Crypto Exchanges Losing Funds, P2P Exchanges Arrives: Introducing TWINS Coin
One problem common in the blockchain space is hacking and theft. So far, more than $2 billion worth of cryptos has been stolen from crypto exchanges. With the most recent hack attack dating about one month ago, it doesn’t look like this will be ending any time soon. Hacking incidents are almost becoming a norm with crypto exchanges.
Unfortunately, this is not limited to small exchanges. Even the top ranking ones are getting attacked on a regular basis. For now, when it comes to traditional crypto exchanges, the only way to prevent a hacking incident is to double up on security cost. This simply means the exchange has to always be on the lookout for hacking attempts and have the best team on the ground to counter hacking attempts on the exchange.
Security solutions
As an exchange user, the security of our funds now depends on whether your choice crypto exchange decides to employ extra security measures or not.
What if I tell you there is an even better alternative to ensuring the safety of your crypto while exchanging them? Well, I am almost sure that you have heard of this alternative but you most likely don’t know how they operate or the level of security they have to offer over other popular means of exchange cryptos via third-party platforms. Anyway, the alternative in question is what is referred to as Peer-to-peer (P2P) Value Exchanges.
What is a Peer-to-peer Crypto Exchanges?
P2P exchanges, as they are popularly called, allows the participants of the market to trade directly with each other without any trusted third party to process all trades.
Using this type of exchange means that you are charged with the safety of cryptos. If you get hacked it will be as a result of your carelessness and no one else. So if you are very careful with you cryptos and make sure you employ all security measures recommended, the safety of your coins in your wallet is almost 100 percent assured.
Recent time has seen the introduction of several peer-to-peer exchanges. However very few of these exchanges can truly provide users with the experience expected from a Peer-to-peer crypto Exchanges. Some of these operations are semi – decentralized at the best. This totally defeats the purpose of what a peer-to-peer exchange means and what blockchain technology truly stands for. This is why you need to stick with a truly decentralized peer-to-peer exchange like
About the win.win platform
The win.win platform is a product of the TWINS coin network designed to function as a true, cross-chain, a peer-to-peer exchange with will in turn help with facilitating the process of direct wallet-to-wallet transacting of digital assets between network users.
Backed by New Capital, an incubator that supports and advances transformative infrastructure projects, and the prestigious NEM foundation. This platform will function independently of third-party interference, i.e absolute decentralization.
With the security and trust problem faced by semi-centralized or centralized, it has become increasingly difficult to store and exchange digital assets in a secure manner. Current Centralized exchanges have been proven to be unreliable and insecure, often hacked or abused. This is why a solution like win.win is necessary for the blockchain industry to attain its full potential.
According to the win.win team, in order to advance the mass adoption of crypto, a new architecture capable of efficiently replacing centralized and semi-centralized crypto exchanges must be introduced to enable secure and direct peer-to-peer value exchange.
This project will introduce a truly decentralized exchange platform and proof-of-stake blockchain network with cross-chain atomic-swaps capabilities. This will facilitate the direct transacting of value between network users. There will be no fees for the direct peer-to-peer exchanges, as these transactions are performed directly between user wallets.
The TWINS Cryptocurrency
The TWINS coin is the native coin of the win.win platform and it will be used to power the exchange platform for buy and sell order listings and to reward the community-supported and decentralized hosting of network nodes.
Compared to most crypto project launching recently, TWINS coin is the brainchild of experienced leaders in the fields of telecommunications, cybersecurity,
Conclusion
With centralized crypto exchanges becoming famous for their flawed security, there has been a significant uptick in interest for a safer option such as Peer-to-peer value exchanges. Keeping that in mind, the win.win platform is expected to gain massive ground soon enough.
