In a world where the dominant cryptocurrency exchanges are centralized, it is imperative to rewrite the narrative. This is particularly true, given that these exchanges are vulnerable to all sorts of things. From hacking, to poor reaction to processes, from control of traders’ funds, to risks of government regulations; indeed, these are some of the failings that characterize centralized exchanges. Hence, the solution to these problems is decentralized exchanges. EtherMium could be the solution that will tackle the setbacks.
EtherMium is an Ethereum-based decentralized exchange (DEX) that operates on cryptocurrency pairs and ERC-20 based tokens. Basically, the exchange aims to earn traders’ trust and become the number one cryptocurrency trading service provider. With this end in view, it has deployed a tamperproof technology with a long list of compatible ICO tokens. To ensure that users have total control over their wallets, the platform only plays informational roles. In regards to a traders’ funds, EtherMium allows them to hold their tokens in their own wallets as opposed to the exchange’s wallet.
How it Works
- Traders perform transactions and deals as they wish under the management of smart contracts.
- Given that EtherMium does not hold traders’ funds, the threat of hacking doesn’t exist.
- Since there are no intermediaries, censorship, or control, no one has the authority to block or freeze users’ funds.
- Smart contracts allow users to manage their private keys and enable trades without third-party interference
- Upon a user signing a transaction, the exchange automatically performs the transactions on behalf of the user. Afterward, it commits the output of the transaction to the Ethereum blockchain. No trade executes without the user’s signature.
EtherMium Operation Principle
As a typical DEX, EtherMium works with smart contracts. First of all, owners alone can access all the funds which smart contracts hold. Smart contracts introduce the concept of Code as Law. As a result, they are not subject to any stringent territorial rules. It also guarantees a simple and user-friendly interface. Upon registering on the website, EtherMium will automatically usher the new trader to a wide range of trading tools.
Roadmap and Benefits of EtherMium
Generally, DEX have the same operating principles, and EtherMium is no exception to the rule. As per the roadmap of the exchange, there is a plan to launch a derivatives trading solution for futures. This will enable users to trade digital currencies on the exchange. Indeed, both professionals and beginners will have access to expert advice. Interestingly, the transaction fees will be way cheaper than what is obtainable in the market today.
EtherMium also plans to offer short ICOs. This will allow interested issuers to launch their tokens as well trade them on the exchange. With its integrated solution, this DEX offers decentralized, anonymous and secure ways to participate in the ICOs.
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.