Exchanges can currently be divided into two distinct categories, centralized such as Coinbase or decentralized such as IDEX. A hybrid may be on the horizon, however, from the founder of Substratum.
A Distributed and DEX Combo
According to PR Newswire Substratum has announced the development of Amplify Exchange, its new-fangled combination of distributed and decentralized exchange. It aims to provide crypto/fiat gateways for the top one hundred digital currencies when launched.
The exchange is being touted as an easy to use platform enabling traders to buy and sell directly from their bank or credit accounts. Additionally it will be a payment platform for users to buy and sell from merchants accepting crypto.
Founder and CEO of Substratum, Justin Tabb, stated;
“I am thrilled to announce the introduction of AMPLIFY EXCHANGE. It had been my vision from the day I started Substratum to build an ecosystem of products that work great independently, but are truly exceptional when used all together. With our Amplify Exchange we wanted to give everyone, regardless of his/her location or crypto expertise, the ability to easily get into and out of crypto tokens and coins. This has never been done before.”
The new exchange is the third product in the Substratum ecosystem with SubstratumNode and CryptoPay preceding it. The nodes will verify the transactions on Amplify enabling earnings in AMPX and SUB tokens for those running them.
Cracking China’s Censorship Machine
Substratum has been designed to decentralize the web by eliminating censorship imposed by repressive regimes, China being the prime example. Substratum nodes are designed to serve content to those where internet access is restricted, similar to a VPN. This technology, along with a whole raft of other internet and crypto related things, has been banned in China.
By using a global network of nodes running on user’s computers Substratum will be harder to block than regular VPN’s which have websites and centralized servers. The team already claims to have successfully routed network traffic through China’s great firewall and has posted videos on accessing blocked services such as Reddit.
How to use @reddit in #China? #SubstratumNode will gain you access to all internet content worldwide. #InternetCensorship comes to an end with the #Substratum Network.https://t.co/COAXiEP51j#cryptocurrency $sub #technology #bitcoin #blockchain pic.twitter.com/iBM08IM4vk
— Substratum (@SubstratumNet) November 5, 2018
A decentralized network powered by individuals with the goal of liberating internet access in heavily censored countries is coming closer to reality.
As with many altcoins though, SUB has suffered a major attack of the bears this year. The token has fallen over 95% from its January all-time high of $2.90. It is currently trading around $0.11, down 2.5% on the day but up almost 4% on the week.
The post Substratum Announces New Type of Crypto Exchange, beats China’s Great Firewall appeared first on NewsBTC.
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Author: Martin Young