The popularity of online trading continues to grow. In the United States alone, more than ¼ of all the households are signed up with at least one online trading platform, based on a statistics report by Statistica. These platforms are often offered by online brokers who charge fees of varying amounts, depending on the type of platform, and its strategies. Hence, the description that a trading platform is a software used for trading and positioning in the market through a broker.
There is another description for a trading platform which says that it is “the act of buying and selling financial products through the internet”. While e-commerce is a part of online trading, technically, there are separate platforms dedicated to it such as Amazon, eBay, Shopify, and many others. Yet still, when people hear the term trading platform, the first thing that comes to their mind is that it’s intended for financial products only.
A new and emerging trading platform that is catching the attention of many people around the world now is the Virie Market. It is a trading platform like no other with its most important unique feature of being a decentralized virtual marketplace. This means that brokers do not exist in this platform, which gives the user a cost-effective advantage without having to pay for any broker or commission fees. The framework of the Virie Market allows users to publish offers such as buy or sell, price, type and amount of buying and selling goods, desired payment method, expiration date, and other relevant information.
What’s even more unique about the Virie Market is that it’s an all-in-one trading platform. The user does not need to sign up for many different platforms to do different types of trading. The Virie Market is a trading platform for Internet stores, markets, and other commercial enterprises. It is an e-commerce platform, a foreign exchange, basically, a unique Distributed Exchange Network that gives you the freedom to exchange anything for anything of value.
No trader will ever have to worry again for the security and protection of their transactions as it has embedded payment and fraud-prevention systems. Virie uses top of the line modern cryptography that ensures transactions are untraceable, which means that all possible senders of any incoming transactions are equiprobable. This also guarantees that all transactions are unlinkable, which means that it’s ultimately impossible to prove that a transaction was sent to a given user.
To prevent fraudulent activities, wherein the fraudsters create identical public keys and outputs to create identical IDs, the core of the program tracks the uniqueness of individual multi-signature IDs. Multi-signature, or simply called multisig, is a term used for special transactions that can only be exchanged together by several recipients. Virie’s multisig feature ensures the security of issuing payments. For instance, a user can hold his coins in a “2-of-2 multisig”. He holds both keys, but are stored in two different devices. This protects his wallet from a single key compromise, as he obtains a two-factor authentication mechanism.
The Virie Market is already existing and is available to download right after the crowdfunding. Everybody is encouraged to take a look at its source code as it is expected to soon be a gamechanger in the virtual trading world.