Centralization, a critical issue that DeFi was introduced to address in 2009, is still very prevalent in today’s world. Centralization has to do with regulation, third-party interference, and the need for trust to conduct financial transactions successfully.
These issues plagued the centralized, traditional financial sector for years until DeFi introduced a new permissionless and trustless financial system to resolve the problems associated with conventional finance.
Although DeFi means “decentralized finance,” there is still a high level of centralization that has yet to be eliminated. Binance, the world’s largest cryptocurrency exchange, is highly centralized, against the decentralization ethos.
Many large exchanges are also centralized to some extent; even decentralized exchanges have some level of centralization. This has significantly hampered the growth of DeFi, as most people are hesitant to switch to a system that has failed to deliver on its promise of decentralization. This article will look at a new cryptocurrency exchange, FMCPAY, its unique entry into the crypto market, and how it can become a gamechanger for DeFi. Let’s dive in.
What Is FMCPAY?
FMCPAY is a reputable platform for trading cryptocurrencies and digital securities that is based in the United States. By lowering transaction risk, FMCPAY provides users with safe and secure digital asset trading.
Furthermore, the platform has one of the lowest transaction costs in the cryptocurrency market today, with typical fees as low as 0.04 percent. FMCPAY combines blockchain technology and artificial intelligence to provide users with a seamless trading experience.
FMCPAY also has a high level of liquidity, with each market pair having enough liquidity to meet orders placed. FMCPAY also functions as a stock brokerage, allowing users to trade stocks of major corporations such as Netflix, Uber, Facebook, and Amazon.
Working Model of FMCPAY?
FMCPAY operates on its own private UTXO blockchain, which debuted in 2021. FMCPAY is also fully decentralized, with no single entity in charge. FMCPAY exchange is powered by an immutable ledger, a chain of blocks with verifiable signatures, and billions of dollars of cryptographic computation. FMCPAY adheres to the core philosophy of Bitcoin, the pioneer cryptocurrency in terms of transparency, openness, and trustless financial transactions.
FMCPAY’s blockchain is entirely open and accessible to everyone. The blockchain has been subjected to some non-contentious soft and hard forks, all of which have resulted in upgrades to the entire FMCPAY blockchain network. FMCPAY prioritizes speed, security, and scalability, as evidenced by significantly faster block timings (15 seconds). On-chain scalability is a critical component of its blockchain, allowing for a wide range of practical applications such as deploying dapps, document authentication, token issuance, and asset digitization.
FMCPAY employs five different and independent algorithms, with a magnitude greater hash power in three of these five algorithms than any other competing blockchain, thereby increasing the security of the blockchain network and preventing attacks on its blockchain.
FMCPAY’s industry-renowned, real-time difficulty adjustment mechanism ensures block generation timing stability despite exponential increases/decreases in hash mining power. FMCPAY’s blockchain has also been used in some cryptocurrency and blockchain projects, including Dogecoin and Zcash. Using FMCPAY’s blockchain allows for regular block timings as well as even block mining distribution between algorithms, as well as preventing mining dominance in the event of a sudden outflow of mining hash power.
Benefits of FMCPAY Exchange
FMCPAY offers unique benefits to its users, demonstrating its commitment to providing a stress-free platform for cryptocurrency trading. These benefits include:
- FMCPAY community support
- FMCPAY support is available 24 hours a day, seven days a week.
- Asset protection and security
- An appealing user interface and a fantastic user experience
FMCPAY is a community-focused cryptocurrency exchange that provides users with the best of both worlds regarding cryptocurrencies and stocks. It offers a unique product and can help drive user growth of DeFi as well as set the standards for the next generation of cryptocurrency exchanges with its unique working model aimed at speed, security, and scalability.
FMCPAY is currently preparing for an airdrop event on November 1st. If you want to be a part of this, or if you want to learn more about FMCPAY, you can follow them on social media:
Disclaimer: This is a paid post and should not be treated as news/advice.