The Streamity ICO recently started, so far they’ve already raised over $4 million according to their website.
One of the major issues connected to the use of cryptocurrency is the way in which it can be difficult to transfer it to a fiat currency when it comes to that moment. While it is not always necessary for this to happen, the fact that it can be so troublesome when you wish to do it has been linked to some people avoiding using cryptocurrencies as much as they would like. However, that is where Streamity is hoping to make a difference, and if they can, then this may very well be a good ICO to consider when it comes to investing.
What is Streamity?
The new platform is a very specific type of exchange that operates using Smart Contracts. Their hope is to eliminate the common issues related to moving cryptocurrencies around and then exchanging it for a fiat currency that you can then use in the real world.
The problem is that, generally speaking, the cryptocurrency is effectively trapped within the Smart Contract until there is a signal received by the account of the owner that the transaction is going to happen. This is frustrating for users and takes time as well as often requiring the use of a middleman to complete the transaction. They hope to eliminate those third-parties by offering an easier to use application that deals with the exchange in an instant.
The Technical Aspect of Streamity.
From a technical perspective, the new platform is simply offering a more simplified exchange method that seeks to remove that all-important block regarding Smart Contracts, and will do so by running their platform on Ethereum. They plan on doing this from a decentralized base and to remove the centralized aspect that has been common with other similar exchanges.
This is achieved by simply allowing the various users to connect with one another in order to complete their trade. This direct trading allows both parties to know who they are dealing with, and as it uses the blockchain to complete the transaction, it does mean that you can also take advantage of the anti-fraud and anonymity aspect of the blockchain providing a new sense of security.
Furthermore, they are also seeking to provide a database of cryptocurrencies to help individuals with their trading. Also, their website and application will include a significant amount of information connected to the market that will also help people to make their decisions with their trades. The currency itself operates as the fuel for the exchange adding value to the tokens created by the company. As the platform and exchange grows with an ever increasing level of trade, then the value of the token will also increase representing a better investment for those that have become involved in the ICO.
The Advantages of Streamity.
Perhaps the main advantage of the project is that they do not have to be hit by the same legislation as centralized exchanges due to the way in which they operate. As a result, it allows them to operate in more areas than other exchanges with it, therefore, opening up even more markets.
Of course, there is also going to be an additional advantage connected to the commission that has to be paid since they are running on that decentralized base with this reducing costs and lowering the rates. In general, the commission rates will never go as high as 2% for the exchange with the majority being significantly lower. This is certainly favorable compared to other exchanges, and this in itself could work to the advantage of the exchange.
The Financial Aspect and ICO.
For the ICO, the company is able to accept a number of different cryptocurrencies as well as several fiat currencies. This will include ETH, BTC, ETC, LTC and the more common fiat currencies around. You should also know that there is a minimum investment to take part in the ICO with this being set at 0.1ETH.
The company has also sought to implement both a soft cap and hard cap. The soft cap has been placed at $500,000, which has already been met. While the hard cap has been set at $20,000,000. For the sake of the ICO, the price that has been set by the company is 1STM being valued at $0.20.
During the ICO, there will be a total of 110,200,000 tokens produced which represents 70% of the total number of tokens that will ever be created. As is the norm, any tokens that are not then purchased after the ICO will be burnt to create the final total that will then be used to power the entire platform.
Overall Conclusion About Streamity and the ICO.
The difficulty that Streamity has is that this is a market which is seen as being extremely competitive making it hard to establish themselves and to gain a significant foothold. However, as they are able to operate in more areas than a number of their competitors, then this may very well work to their advantage. With $4 million already being raised from the token sale they should also have the funds to attract users when they launch.
The good news is that the team at the back of this project are highly experienced within this field, which is always going to be helpful in trusting an ICO. They also have experience in producing tech startups, so this will also provide some confidence that the ICO, and project in general, may very well become a success.
However, perhaps the main issue will be trying to get users to begin trading, so careful use of the money brought into the company via the ICO is going to be key. If they can push the narrative that they operate via a decentralized option rather than the legislation linked to the centralized versions, then it may persuade enough people to start using this exchange.
So, if you are interested in the potential of a decentralized exchange, then investing in this new platform may indeed be a wise decision. It may indeed be able to make an impact in a tough market but with the correct backing, this is going to be entirely possible.
Check out further details on their website and in their whitepaper.
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