Crypto markets have been booming recently, with new altcoins springing up like mushrooms after the rain. This plethora of options has highlighted the need for an extensive and sophisticated framework enabling market participants to buy, sell and exchange their digital assets safely and efficiently.
Existing crypto exchanges and other intermediaries have numerous weaknesses and limitations. They remain illiquid and fragmented, charge high transaction fees, offer a limited choice of traded currency pairs, and the process of account verification might take up to several days. Besides, due to geographic location and national regulations peculiarities, not all of them are available worldwide.
Last but not the least, when using such a centralized exchange, you have to open an account wallet and entrust your funds to this exchange, thus running a high risk of losing your money or confidential data as a result of hacker attacks or hardware failure like it was with MT GOX, Cryptsy, Mintpal and etс.
Comparison of centralized and decentralized exchanges
LightBitAtom has a solution that can overcome all the vulnerabilities of existing exchanges by introducing a new multi-crypto decentralized exchange (DEX). It has an automated trade execution p2p system designed to facilitate buying and selling multiple cryptocurrencies all over the world safely and with the lower exchange rate as compared to other platforms. No identity verification means that users will have a high degree of privacy and protection from identity theft.
LBA promises to be a significant contribution to decentralization. The project represents a concept, on which the combined technologies of the Lightning Network and atomic swap are implemented. Atomic swap allows to exchange cryptocurrency without a third party. Without a trusted third party, it becomes less vulnerable and is better protected from attacks. The LBA platform becomes a global marketplace for all digital assets and applications.
Lightning network + atomic swap
Everyone can be part of a new global decentralized marketplace which facilitates anonymous and safe high-speed p2p trading, with no third parties and censorship and full control of your funds. LightBitAtom will also offer token rewards for high volume traders and for new sign-ups through a special referral program. Customers will be also able to use LBA tokens to pay trading fees or gain premier access to the platform.
The pre-sale round commenced on April 15, 2018 and will last until May 6. The ICO starts on May 7 and is scheduled to close on July 15. The total supply of LBA tokens is limited to 1.205 billion, with 87% of them to be distributed in the ICO. The exchange rate of 100 LBA is set at $1, with bonuses available for early adopters. The project developers hope to reach a hard cap of $8 million. All unsold tokens will be destroyed.
For more information please visit the website of the project