UK-based PayperEx is the first alternative share market network to utilize Bitcoin blockchain technology to lower the barrier of entry into cryptocurrency trading.
PayperEx aims to decentralize the shares market by creating an alternative trading network and bringing the benefits of blockchain technology to shares trading. The platform, which is built on the Bitcoin blockchain, allows users to buy and sell shares of digital assets like Bitcoin, Ethereum, etc… through a proprietary unit called a Payper.
For each asset on the platform, a limited number of Paypers will be issued. Users purchase these Paypers using PAX, PayperEx’s native cryptocurrency.
One of the most game-changing aspects of blockchain technology is the smart contract. In simplest terms, a smart contract is a computer program that facilitates and enforces the terms and conditions for a transaction – or set of transactions – to occur between two or more parties.
Smart contracts are digital contracts that self-execute when triggered by a pre-determined event, such as another transaction taking place or a certain block height being reached. They are completely automated and verified by every computer on the blockchain network.
Until recently, smart contracts were the sole province of the Ethereum blockchain. New blockchains are being developed – Ripple, Corda, Hyperledger, and others – that incorporate smart contract technology, however, the Bitcoin blockchain traditionally been left off of the list since it has been unable to support anything but the most basic of smart contracts.
Backed by more than 15 years of experience in the financial sector – including R&D, IT, systems development, and online trading – the team behind PayperEx have managed to harness the security and stability of the Bitcoin blockchain to develop a robust cryptocurrency investment platform that utilizes advance smart contracts.
When asked about the decision to utilize Bitcoin’s blockchain, PayperEx Co-founders Yaniv Baruch and Menahem Maya said:
With many years of experience in the technology world we know that if you want to develop something stable and scalable start with the best platform to build it on. After evaluating the available options, we found Bitcoin’s blockchain to be a more secure, stable, decentralized and transparent platform to build our smart contracts and tokens on.
When a user signs up to participate in PayperEx’s token sale, upon logging in they are taken to their account dashboard where they can access the platform’s web based multi-currency wallet. The wallet supports all major tokens and cryptocurrencies, including Bitcoin, Bitcoin Cash, and Ethereum, and makes participating on the token sale fast, secure, and anxiety free.
Using the wallet to invest in PayperEx is simple. Once logged in, users simple click on their wallet and then click on the Buy Pax Tokens button. On the next page, they enter the quantity of tokens they wish to buy and select the cryptocurrency they want to use to make the purchase. After clicking the Buy Pax button, they are given the address to which they need to send funds.
Unlike most ICOs, PayperEx investors won’t be left wondering if the company received their transaction and they won’t have to wait until the end of the token sale to receive their tokens. The wallet maintains a complete and transparent record of each user’s transactions and PAX tokens are added to users’ wallets immediately upon transaction confirmation.
One of the PayperEx wallet’s most standout features is its flexibility with regard to funding source. The majority of today’s ICOs are based on the Ethereum blockchain and require that funds be sent from an ERC20 compatible wallet. That rules out many wallet applications and most online exchanges.
Because the PayperEx wallet is built on the Bitcoin blockchain, it does not have those limitations. Users are free to send their cryptocurrencies from any exchange or any wallet application they like.
Currently the wallet can only be used to buy PayperEx tokens (PAX), however, once the token sale is finished, users will be able to transfer and store their bitcoin and other cryptocurrencies just like any other online wallet.
The network will have its own currency, the PAX token, which is the first token to be built on the Bitcoin blockchain. Cryptocurrencies will be able to be traded for PAX, which in turn can purchase Paypers. The initial distribution of the tokens will be done via token sale, which is currently under way and will continue through December 25, 2017.
A total of 4,000,000,000 are available for sale during the token sale. Any tokens not sold at the conclusion of the token sale will be cancelled. The current rate for PAX 0.000036 BTC ~ $0.70
Excepted coins: Bitcoin, Ethereum, Bitcoin cash, Litecoin, Bitcoin Gold