The team behind the Safex e-commerce blockchain open source platform announced today that it is expanding the ecosystem in which vendors and buyers can conduct transactions privately, with relatively smooth and well-verified digital assets.
Safex employees refer to the platform as a “privacy-driven decentralized marketplace” where the use of the Safex token leads to revenue sharing and other opportunities for members.
Users can create web stores where they can sell items with a connection to the SFT network. You can also invest in long-term returns and otherwise participate in a novel peer-to-peer system that shows what is possible in the age of the digital coin. The idea that all of this resonates is one of the best of the new technologies brought to us by enhancing decades-old banking and financial systems that now seem quite hidden.
The P2P Marketplace: Refining a DIY Network
As in so many parts of the technology world, Safex’s design as a peer-to-peer exchange system demonstrates the power of P2P interactivity in eliminating top-heavy centralizations or middleware parties or technologies.
Experts describe how this platform works and describe the design as a decentralized peer-to-peer system with fungible, smooth and verified assets. This means that the liquidity and easy access built into the system allow for fast processing of transactions, low fees and more. There is also the anti-fraud potential of such a system based on the blockchain immutable ledger technology that has so radically changed finances in just a few short years. It seems like Satoshi showed up just yesterday, and we heard for the first time about a digital ledger that would change our view of transaction verification. Now the world of cryptocurrency is huge in comparison and Safex is part of its new frontier.
Accommodation of normal miners through ASIC-resistant design
The Safex token is also known as an “ASIC-resistant” token. If you take a closer look at what this means, you will show how the developers of open source technology wanted to prevent elite mining pools from consolidating too much power on the network.
ASIC-resistant tokens can be mined with CPU and GPU rigs without any problems. There is one design element that, in contrast, makes ASICs (specially assembled mining machines) less effective.
In explaining why they went down this route, Safex spokespersons talk about the consolidation of power through large e-commerce and technology giants who may have more market reach than cybersecurity or respect for competitive processes, for example.
“This year, power has consolidated in the hands of centralized, data-trailing e-commerce giants, but these platforms aren’t the only game in town,” Safex founder Daniel Dabek said in a recent press release. “With Safex, we are heralding an era of censorship-safe, privacy-friendly trading, in which small sellers can reach new target groups and be amply rewarded in cryptocurrency and in which there are incentives between traders and the larger community.
Users interested in learning more about Safex’s potential can learn more about cryptocurrency-related merchandising from blog posts such as What To Buy. You can check the privacy resources to see why the Safex platform is more secure than other exchanges. All of this supports the idea that Safex will eventually become a beast of its own in a decentralized financial world.