December 8, 2018
Wuzu launches the first fully compliant multi cryptocurrency exchange platform
On December 10, Wuzu will launch a new kind of digital asset trading platform, a true paradigm shift in the crypto trading industry. It will enable individuals to trade directly with each other through different exchanges (client — exchange), generating more business opportunities on both ends and greater liquidity.
Centralized exchanges have been a constant topic in conversations throughout the cryptocurrency industry for a while, and not in a good way. Since the collapse of Mt. Gox in 2014 and its aftermath, as well as, the many hacking incidents on major exchanges worldwide, has inspired a healthy dose of skepticism towards doing business through them, and it’s even worse when it comes to storing cryptocurrency with online services. It has also inspired the search for decentralized exchange models where the functionality provided by centralized exchanges can be realized without a single-point-of-failure where all risk is concentrated. Wuzu’s pioneering technology is based on a decentralized model, its multi-exchange network (MXN) provides precisely what the cryptocurrency market has been hoping for. An online platform that allows transactions between exchanges, fulfills all safety criteria centralized exchanges do not, as well as all legal compliance based on the on-chain oracle layer protocol.
Introducing an entirely new type of cryptocurrency exchange
Wuzu is a total game changer in the cryptocurrency industry in many regards. One being its unique functionality of bringing multi exchanges under one platform. This ability is so powerful that even the most sophisticated crypto trader would need a moment to wrap its head around it. The purpose of an exchange, at the simplest level, is to connect buyers and sellers. Sellers post the quantity they are willing to part with from their holdings and a price they are willing to accept. Buyers in turn place bids to purchase a specific amount at a price of their choosing. When these two sides “cross” and the bid meets or exceeds an ask, a trade is executed. The exchange facilitates the transfer of assets in both directions, delivering assets to the buyer while compensating the seller with the funds provided by the buyer. This is how it used to be, the old school way. With a multi-exchange network such as Wuzu’s, buy and sell orders are performed throughout all exchanges providing safer, and more lucrative transactions to both buyers and sellers, without any legal or safety repercussions. It’s also important to highlight that Wuzu’s multi-exchange-network provides great benefits to all cryptocurrency exchanges and only their users, its decentralized nature and reach will translate into more business opportunities resulting in extra revenue.
Keeping Your Crypto Safe with Wuzu
Many people in the crypto community share the opinion that centralized exchanges make terrible custody holders, and Wuzu has been listening closely, offering bulletproof custodian solution, as well as, unparalleled legal protection with its multi-exchange-network, cold wallet solution, and the on-chain oracle protocol layer.
On-chain oracle layer benefits
- Safe token emissions solution.
- Ethereum wallet whitelisting control.
- Regulations compliant token distribution.
- Automatic token repurchasing in case of terms & conditions violation.
Switching towards a decentralized exchange model is one of the best alternatives for storing crypto assets
Centralized crypto exchanges act like traditional stock market exchanges. These old solutions are holding back innovative ones. The crypto trading industry doesn’t need old style centralized solutions to make a trade. The risk of having these centralized exchanges take custody of holdings is not only high but unnecessary. One of the reasons why centralized exchanges make terrible custodians is because it’s unclear if they are fiduciaries towards those who use them as a wallet. At Wuzu we believe that custody should be a segregated function. Nevertheless, we were able to bridge the gap between both, solving one of the greatest issues for crypto traders.
The trading world should be aware that they can make trades using non-custodial decentralized exchanges. There is no need to rely on centralized exchanges to make trades. Once the world is more familiar with this, there will be a mass liquidity migration away from centralized exchanges. Wuzu is proud to be part of the new wave of decentralized exchanges, one with exceptional security standards and liquidity. Join us!