Blockchain.io: New Crypto Project from the Oldest Bitcoin Exchange
Paymium will offer a solution for secure and regulated adoption of cross-chain crypto trading.
With the explosive growth of digital currencies and blockchain technology, crypto exchanges have become part and parcel of the industry. However, hackers and fraudsters still consider them the weakest link in the cryptocurrency infrastructure chain - these platforms are vulnerable to various security breaches, repeatedly causing severe financial losses for users. Moreover, many exchanges lack compliance with regulatory frameworks, which can lead to account freezes or seizures. Some exchanges also have very poor customer service and opaque management, not to mention instances when they just shut down unexpectedly.
The Paymium team aims to address the issues of security, reliability, compliance, and accountability, which are common in the existing crypto exchange market. In order to achieve it, they are launching Blockchain.io - a breakthrough European crypto exchange.
Paymium is not a newcomer to the industry. It is one of the oldest Bitcoin exchanges in the world and the first in Europe, and is well-known for its security and reliability. Founded in 2011 under the name Bitcoin-Central, it has been operating hack-free since its inception in 2013, which has made it highly trusted. The platform currently boasts more than 170,000 accounts, with 98% of its funds held in cold storage.
The exchange is registered with the French regulation authority ACPR and compliant with European banking standards for anti-money laundering (AML) and know-your-customer (KYC) procedures. Finally, it is the only crypto exchange whose financial accounts are certified by external auditors.
Now, Paymium wants to apply its sterling operational standards, vast experience, and deep knowledge of advanced crypto technologies to become the leading cryptographic exchange in Europe by 2020. The team is launching Blockchain.io - a new platform fully dedicated to crypto trading and targeting both retail and institutional investors. Paymium will remain the privileged hub for fiat currencies.
Blockchain.io is designed as a comprehensive ecosystem for secure and efficient access to the Internet of Value, which the team sees as the next level of evolution of the Internet. Built on multiple decentralized networks, the new internet is powered by different blockchain versions and, accordingly, cryptocurrencies. Blockchain.io aims to serve as a bridge for all these value networks and provide a transparent and secure marketplace where cryptocurrencies are traded against each other.
The project will combine the best features of centralized crypto exchange trading and decentralized settlement based on cross-chain atomic swaps. The latter are cryptographic protocols that allow users to settle transactions without any centralized authority or ‘trusted’ third party, thus eliminating counterparty risk. These advanced technologies will address a number of scalability issues and enable transactions across heterogenous blockchains powered by cryptocurrencies of a different nature, such as POW, POS, DAG, and others. They will also increase the speed and reduce the cost of transactions, which will facilitate mass adoption of cryptocurrencies and decentralized value networks.
Blockchain.io’s main features:
- Centralized order books (maximum liquidity) and decentralized settlement (higher security)
- Large variety of basic and advanced trading orders to address the needs of both novice and expert traders
- Safe custody services with encrypted cold storage of funds
- Full transparency and regular audit of all accounting records by independent professional auditors
- Compliance with all current EU regulations, protecting users’ funds from being seized or frozen
- Resilience of the system under high volume, heavy traffic conditions and DDoS attacks, with the ability to process up to 2 million orders per day
- Peer-to-peer and proprietary lending enabling traders to borrow money from other platform users or from the platform’s central inventory
- ICO planning and execution services plus liquidity services to assist ICO campaigns and ICO listings
These features will be gradually rolled out over the next 18 months.The initial launch date is set for October 2018. An Open alpha version for early investors will be offered at the end of June 2018.
The team has strived to meet the needs of all crypto enthusiasts. They’ve especially focused their efforts on providing a comprehensive range of ICO planning & execution services to entrepreneurs & institutions. With this powerful positioning, they aspire to become the leading Europe cryptocurrency exchange by 2020. Their proprietary token will offer incentives to bootstrap the liquidity of the trading platform and ensure a sustainable global growth.
Blockchain.io ICO details
The project will raise funds by offering the community its ERC-20 compliant BCIO tokens. The private sale round started on May 14, while the public sale is scheduled to close on October 14, 2018. The total supply of BCIO tokens is limited to 200 million, with 120 million earmarked for sale. The ICO exchange rate of 1 BCIO is set at 0.70 euro. The project developers hope to reach a hard cap of 60 million euro.