Source : coinquora.com
- Centcex exchange will be offering better security.
- The platform will offer a better user experience.
- There will be more products in the Centcex ecosystem.
Safemoon just launched the Safemoon V2, a protocol upgrade that has rejuvenated the once plummeting coin. But even with this upgrade, Safemoon community members were still joining other crypto projects. One of these crypto projects that is attracting the Safemoon community is the Centcex project.
Centcex is a blockchain-based decentralized exchange built on the Binance Smart Chain. The Centcex team is working on addressing two major problems in the current exchanges- crypto security and user experience problems. Providing solutions to these two issues is attracting many crypto investors, not just the Safemoon community.
There have been many cases of exchange hacking. The latest one is the Bitmart hacking, where Safemoon was one of the cryptocurrencies that lost assets. Centcex is promising to eradicate the security issue, and this is why it is attracting Safemoon members. Centcex team is building a platform that uses the Proof-of-Stake consensus mechanism (PoS) to address the security problem.
The PoS protocol is a consensus mechanism that uses validators to verify transactions and build new blocks on the blockchain. This is different from the proof-of-Work (PoS), where several minors created new blocks and verified transactions. This exposed most blockchain networks to rampant hacking.
Validators are the investors who will stake their tokens, and in return, get rewarded a share of the revenue generated by the Centcex ecosystem. The number of validators needed to okay a transaction must be above 51%. This is a huge number for a small group of hackers to put together, making hacking impossible. This is how Centcex exchange has addressed security issues and Safemoon members like it.
Centcex has addressed the user experience in several ways. First, it has removed the KYC requirement to operate on the exchange. The team is building a NO-KYC crypto exchange to ensure the safety of users’ data. Joining Safemoon will be able to transact anonymously.
The PoS protocol is also helping to increase transaction speed, which is improves users’ experience. The building of new blocks with PoS is faster and more transactions per second. This is another reason why the Safemoon community is loving the Centcex project.
Safemoon members are also being attracted by the appealing investor rewards. The staking process is the most rewarding and attractive to Safemoon and other investors. The platform is sharing 100% of the revenue generated by the products in the ecosystem among the staked CENX tokens.
A 3% of the 10% tax on transactions goes to fund unlimited products development. So there will be so many products in the Centcex ecosystem in the future, which is why the Safemoon community likes the project.
So there are many reasons why Safemoon loves Centcex project. The number of Safemoon members joining Centcex is expected to increase as the project grows. Follow Centcex social media platforms for the latest updates!
Follow Centcex social media platforms to keep up with the latest updates!
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