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The next generation of e-commerce is finally here, and the future is indeed looking bright. Welcome to the one site which offers you a wealth of information regarding Decentralized Peer-to-Peer Trade (DP2PT) and how you too can get in on the numerous benefits. Before we delve into our mission, let us take a quick look at what such exchanges entail and how they will affect trades in the times to come.
What is Decentralized Peer-to-Peer Trade (DP2PT)?
In financial transactions, there has often been a medium to enable the processes to be smooth. However, such third parties sometimes end up lengthening the operations, which in turn drives up the costs. The third party is quite common in most cryptocurrency exchanges which fall in the hands of companies. As these companies have to make some profit from the transactions so that they can pay their employees and other running costs, they charge a fee on all monies passing through their systems. As such, the process becomes encumbered with high prices and considerable waiting periods.
Decentralized exchanges, on the other hand, make it possible for two people in the market to deal with each other on a direct basis, devoid of the need for a third party. They take place using software, and as such, no human intervening is necessary. Though there are some downsides to this strategy, users attest that the advantages outweigh the bad and thus, the system is here to stay.
Not many establishments have embraced the receiving of payments by way of cryptocurrencies, and as such, there was a need for an intermediary. Companies were quick to come up and solve the problem by exchanging cryptocurrencies with real-world currencies, and users of such payments, therefore, got a relief. Things were okay for a while, but over time, disputes arose. First off, any disagreements between users would have to go through these companies, and this would take time. Sometimes, the agreed-upon solution would not work for both parties, and one or both parties would walk away disgruntled.
Another thing that users observed over time was that a considerable chunk of their cash went into paying such companies by way of commission. Having looked into such issues as well as others that arose over time, members of the cryptocurrency community set out to find ways in which they could eliminate the third party and get to keep a large chunk if not all of their hard earned cash. Running the system by way of software seemed like a swell idea and thus, they set out in search of such a means, and they succeeded. Hence, Decentralized Peer-to-Peer Trade (DP2PT) came to be.
How do trades take place?
To understand the upside to this system, we must first delve into how regular trades take place at present. First off, someone wishing to sell their cryptocurrency will input the amount they want to part with as well as the proceeds that they expect from the exchange. This sale order will then appear in the system and will get processed once a buyer comes into the market and finds the offer appealing. In some cases, a buyer may come in and lack what they wish to buy, and they will thus create their order, specifying what they would like and for how much.
As you can see, the waiting time can vary as there is a need for two matching orders for a transaction to get completed. Once two offers are in agreement, the third party processes the amounts and sends out the cash rewards to each party. The operations get thereby left in the company’s system, and the third party will have to await the completion of the transactions. This whole procedure could take up to a week to come to an end.
In the case of the decentralized system, buyers and sellers place their orders, much like the case with the first system. However, once matches come about, the system redirects the entire process to the parties, thus eliminating the need of an intermediary. As such, the process takes place in a faster manner and is economical to all parties involved. The only time that a third party comes into the scene is when there is a dispute, and there is a need for an agreement. Otherwise, the system can handle all the tasks on its own.
Benefits of this system include but are not limited to scalability, privacy, ease of use and fairness. We believe that this is only the icing on the cake and there are more benefits in store for us in the future.
Now that you can see the bright side to the Decentralized Peer-to-Peer Trade (DP2PT), you can understand why this system has taken over the world by a storm. Our platform provides users of this system with a forum in which they can share their experiences such that we can all learn from each other. Users can give and receive advice regarding this trading which will help us grow as a community.
In time, we believe that we will find a way to make the system even more efficient than it is at present and in this way, transactions will be a breeze. We welcome you to be part of our growth and to join us as we discover numerous ways in which we can exploit this system to its full potential. Free trade is our ultimate goal, and we surely look forward to your contribution.
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