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A couple of days ago, eFin tweeted from its official Twitter manager that XRP was added to their platform. The exchange will begin its operations within the next month and this listing could be quite substantial for XRP. We have reasons to support our words.
Very few blockchain projects in the cryptosphere are complex and extensive as TokenPay. He has his fingers in a lot of cakes, and he even has his cryptocurrency called TokenPay (TPAY) which is not as impressive for market capitalization standards (about 15 million, in total) and holds 173th place.
Still, it is one of the very few coins that have been exchanged in green numbers over the last two days, which is pretty impressive for the days when all the first 14 currencies kept trading in the red zone (yes, I'm in the green today).
Why is this new exchange listing XRP special?
TokenPay defines itself as a "decentralized self-controlled merchant payment platform" entirely based on mathematics and designed to allow secure transactions between several parties.
The declaration is apparently simple. It is an entire ecosystem of financial services inside and outside the cryptosphere with links and associations with many cryptographic projects and traditional financial institutions (read banks).
And now, the project is preparing a brand new cake where it can put another finger. It will be online on December 19th. It's called eFin, and it will be a brand new cryptocurrency exchange based on all possible standards. And as noted at the beginning, it will list XRP from the beginning.
The new exchange responds to the TokenPay mission to meet the needs of traders and consumers and will be an integral part of the vast company's ecosystem.
eFin will be a secure, non-custodial, inaccessible, private and, above all, decentralized exchange. The decentralized bit is particularly relevant because it will be the first decentralized exchange of cryptocurrency in history.
It will allow users to tackle large-scale real-time conversions to be encrypted at fiat for the entire TokenPay ecosystem. This includes TokenSuisse and the German bank AG. It will support faster and easier TPAY, LTC and XVG conversions in mBTC that can be used on CryptoBet, Esports.io and TokenGaming.
EFIN @efinexchange, a decentralized trading platform powered by @TokenPay and developed by @BlocksizeDevs will include $ XRP when it will be launched on December 19th.#XRPthestandard #XRPcommunity @Ripplehttps://t.co/TbANaO8tDS pic.twitter.com/jDdwLcXtFl
– Leonidas (@LeoHadjiloizou) November 26, 2018
So, why is it so important to finally have a decentralized exchange? Safety. The exchanges currently available are centralized, of course. It means that their security is only as good as their security team, and many of them have already had serious problems with hackers. In this regard, they are not different from any normal website in the world. A decentralized website (for encryption exchange in this case) that works on a good blockchain, can not be hacked.
It does not depend on how good your personal digital security is, it's good that a blockchain can not be hacked. Yes, we know that Verged has been hacked three times already this year, which is why we have included the "good" adjective.
Bitcoin, XRP, Tron, Litecoin, Ethereum have never been hacked once. A further advantage in terms of security is that of being a non-custodial exchange; it will not keep your coins. They will always be with you, so even if he could be hacked (which he will not), hackers will not find anything to steal because there are no tokens there.
And this very advanced and innovative exchange will list XRP (together with Litecoin and Verge) from the beginning. The choice makes sense because XRP is now the second largest in the world by market capitalization and has also surpassed Bitcoin in terms of profitability in the last two years.
Many critical observers now believe that it will become the next great cryptocurrency, with a real chance to outperform Bitcoin in any way in the not-too-distant future.
The good news keeps coming up for Ripple's XRP. Expect a bullish run.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliated companies, employees, writers and subcontractors are cryptocurrency investors and may from time to time have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pixabay.
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