The digital space is expanding in blockchain with new applications rolling out every day to bring decentralized solutions to the digital economy. Related developments Fintech leads with more than 30% share in the overall blockchain base technology that has emerged so far. There is no doubt that decentralization and transparency are far from here, but on the other hand, this will only be possible with mass adoption.
Although fintech is the most developed component of the digital economy, the sector as a whole is still scattered and there are no practical solutions available to ordinary users. The large gap between current evolutionary conditions and the use of day-to-day blockchain technology requires sustained and centric integration. Coinnup has assembled a team of experienced developers, economists and fintech experts to design an all-in-one platform that delivers solutions to B2B, B2C, common buyers, investors, and merchants.
Non-existence of the Global Central platform - The idea behind this platform is because of the sheer number of problems facing everyday users. A prime example is any Australian customer who buys / sells, trades or uses cryptocurrency in any way. Australia is an early user of cryptocurrency and through digital currencies and has not passed through unnecessary obstacles.
No Point of Sale (POS) system - Most projects concentrate on payment methods, such as debit cards whereas use cases are not really a central point. Ordinary users can not use cryptocurrency ownership for everyday shopping, such as buying groceries, paying phone bills, top-up phones or buying a pair of shoes. There is a point of sale system is a traditional but very effective way to reach the masses, and it will not change in the near future but will advance to newer technologies. Block-based POS systems do not exist at this point that block the only way forward to expand decentralization to traders at all levels.
Problems with Fiat Exchanges & Existing Case Studies - If John wants to invest AUD 5000 into ABC Coin, John must buy BTC first. John compares prices and finds that BTC is 10-15% more expensive in the local market than in Fiat-to-BTC exchanges. The obvious option is to register with an exchange, but after several days of waiting and tons of attempts to verify his identity, John discovers a USD 120 service fee exchange fee. Since BTC rates are still much lower than BTC domestic rates, John started using the currency exchange .
John now has to sign up with another exchange to find ABC Coin. ID verification can take up to 21 days to complete, and when done, John pays the transfer fee to send BTC to a new exchange. He also noticed that the BTC tariff on the newly listed exchange was lower than the exchange he bought BTC. Therefore, it loses the BTC value. Finally, John had to pay trading fees to the stock to buy ABC Coin. His AUD 5,000 BTC is now worth AUD 4,550 - he has paid almost 10% of his initial investment in fees.
Problems with Crypto ranking sites - Many cryptocurrency investors and influencers rely on coin ranking websites to find information. Most of these websites rank coins based on market capitalization and calculate the global average price for each coin based on trading volume on various exchanges. This strategy does not help investors determine the legitimacy of coins, price volatility, or other risk factors.
- Porblem Lack of portfolio management - Portfolio management needs to involve more than just tracking the current value of your assets.
- Problems with existing wallets - Most wallets provide users with multiple features. Users often have to choose between security, compatibility with various coins, backup management, and exchange integration. The available options leave the user with some possibility of having multiple and no other features.
- Problems - Instant withdrawal claims - Based on research, most providers offering instant cryptocurrency-to-fiat withdrawals charge up to 5% of withdrawals, often despite claims that these providers are "zero-cost." Fees that are hidden to users before enrollment often appear, including the conversion rates of cryptocurrency, dollar value conversion fees, and hidden service fees.
Coinnup is a new point-of-sale (POS) network that serves to bridge the gap between traditional fiat money and new cryptocurrency. It aims to be a better way for people to use crypto currency for real-world transactions that are as basic as buying groceries or paying bills.
The Coinnup website describes some of the issues the company wants to confront with Coinnup. Among the problems are: Difficulties and costs involved in buying altcoins, as well as similar problems that exist when converting cryptocurrency to fiat money; The inability of cryptocurrency is used to conduct mobile reload transactions, e-commerce transactions, or make daily purchases at similar grocery stores and markets; Security and time control issues that often accompany cryptocurrency; Slow period of B2B transactions; Overpriced ICO launchpads.
To address the above and other problems, Coinnup is prepared to offer the following components as part of its ecosystem: ID Central - Instant ID verification so purchases and trades can be made quickly; Point of Sale System - For users, the POS Coinnup system will facilitate the daily expenditure and purchase of cryptocurrency. For merchants, the POS Coinnup system will provide real-time low cost deposits, as well as crypto for fiat conversion.
Portfolio Management - Portfolio will record and track your digital assets, provide analysis of your buying and selling patterns, and other practical components; Universal Wallet - Check your balance from multiple currencies, move seamlessly between multiple currencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP); ICO Launchpad - Will be published in the fourth quarter of 2018 and will include intelligent contracts, token distributions and ICO websites; Coin Rating - Includes community votes, comments, and questions about cryptocurrency, as well as the current rate of some crypto currencies.
Coinnup uses an open source document-oriented database to handle authentication, ID storage and many more features that Coinnup provides. MongoDB is a highly scalable database that can handle thousands or requests per one node. Coinnup will have hundreds of replicas and fractions in different geographic zones. It helps Coinnup provide its customers with the latest data about wallets, exchanges, internal operations and more in milliseconds
In addition Coinnup uses Redis to store frequently accessed data. By using Redis we can be sure that incoming data can be returned to other nodes on a private network within a calculated millisecond or even within 2-3 ms if the processing node remains on the same server as the red storage. The Exchange machine is written from sratch using the C ++ programming language and all data is stored in IronMQ queues in addition to PostgreSQL. The Exchange machine is capable of handling about one million orders per second.
The REST API Coinnup platform will be developed using NodeJS, TypeScript, and Express. Processing nodes for different operations are written in NodeJS and C ++ to handle and process as many dates as possible per second. Speed and flexibility for us is in the first place. By using Kubernetes, Coinnup can handle hundreds of thousands of subscribers who distribute the content across geographic areas and the availability zone in them depending on the customer's location.
Coinnup implements a number of layers to provide secure customer authorization and various types of operation calls. Before reaching REST API, the request is sent from the customer side, going through firewall, load balancer, internal router and if all pass Coinnup apply additional checks to reduce the chances of getting malicious requests. Coinnup will provide the SDK to communicate without API for third parties so they will be able to use the API, get generally available data that Coinnup provides in a much easier way with hardly any delays
Private networks - All Coinnup components are on a private network that is secured by network security rules and does not have direct access to the open internet. All traffic passes through the firewall and additional verification nodes.
Coinnup aims to offer an integrated interface for users and businesses, connecting the dots between all the major components of digital asset management. Coinnup ecosystem will streamline all the major components that drive the digital economy. We intend to take all the sophistication into the backend to offer a very simple, portable, secure & technically powerful platform.
The all-in-one Coinnup platform will work with major banks globally to ensure our users receive domestic level services along with 24-hour customer support. Measurable and centric platforms are built to handle day-to-day transactions in the form of cryptocurrency or Fiat, trades, deposits and withdrawals.
Coinnup comes in the form of a digital currency named PMZ. The PMZ Token will go on sale from May 11, 2018 to October 30, 2018, at a price of 3,000 PMZ equivalent to 1 ETH. The token purchase itself can be done with foreign currency such as Ethereum, Bitcoin, Litecoin, Bitcoin Cash and NEO. Do not forget, get also purchase bonuses at certain time period.
Coinnup itself is the result of teamwork in pimpim by Myroslav Gavryliak and Tayyab Rahman, Coinnup strives to provide their best capabilities in this project. In addition, the team also strives to provide the best benefits and services, to anyone interested in joining the project.
The Coinnup team consists of financial experts, marketers, innovators, developers, designers, and economists. Our project is based on extensive research into the business needs of everyday users. Our vision of a centralized approach to decentralized innovation is "the difference that makes the difference." Our complete solution goes beyond just cryptocurrency-to-fiat, trade, deposits / withdrawals, and wallets. Our model allows scalability to grow and anticipate the needs of our users.
So that's all for review our ICO project for this time, hopefully can increase your knowledge in choosing the best project ICO to you invest. If you are interested in joining this project, or intend to buy a token in the sale. You can visit their official website and page below:
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