A decentralized solution for cryptocurrency exchange has been highly anticipated both by current enthusiast and critics of the virtual banking system. A US based company is offering the solution.
By now, most of us have been exposed to Grammarly’s digital AI-powered writing assistant. It is a browser extension that works where you do…Twitter, Chrome, Safari, your favorite messaging service, email and so much more. Using Artificial Intelligence technology, it helps its users to communicate with polish and clarity, working along while you type, to assist you with the fine points of grammar where, and as, you need them. The more you use it the more it learns about your tone of writing, your style, your word usage, etc., and is able to customize its suggestions accordingly. So, what has any of this got to do with a completely decentralized cryptocurrency exchange?
A FinTech startup from the US, Coin, whose founders are Microsoft alumni Damon Nam and Byron Levels, has launched its decentralized exchange. This financial services solution will disrupt current cryptocurrency wallets and exchanges by providing every consumer and crypto enthusiast with the easiest and most secure way to manage their digital assets. But more than this, they recognize that most of the population doesn’t really know about or understand Cryptocurrency, and so, when determining its standard features, they set themselves the task of including blockchain education for everyone who uses it.
The platform is called the Coin Exchange and it is an all-in-one, cross-chain, P2P, decentralized cryptocurrency wallet, exchange, and assistant powered by atomic swaps and artificial intelligence (AI) technology. You can see where this is going now. But before we divert completely, let’s look at its other standard features.
Coin Exchange includes an integrated cryptocurrency wallet for users to store popular digital assets such as Bitcoin, Ethereum, ERC20 supported tokens, and more. For exchanging assets, Coin Exchange leverages atomic swap which replaces the need for any third party involvement. This ensures little to no fees as well as the most secure method of transferring value, as transactions occur, on the blockchain, directly between users. This also makes Coin Exchange hack resistant, as users are the only custodians that can access their funds.
Now, back to the AI aspect. The Coin Exchange also includes browser extension support for the Internet’s most popular web browsers such as Google Chrome and Safari. Once installed, the browser extension uses AI technology to execute transactions faster and provide insights to help users save time and money. Similar to Grammarly’s grammar recognition, Coin Exchange includes an assistant that can recognize blockchain-related keywords from any webpage.
Direct solutions thanks to AI
This allows Coin to provide education, insights, or help consumers execute financial transactions directly from any webpage with an input field. For example, users can send, receive and exchange transactions in a guided process or simply by typing text commands such as “Send $50 Bitcoin to @cryptojane” in any input field on the Internet, whether in Messenger or Twitter or Instagram, etc. Thanks to the AI assistant, the transaction can be completed in a matter of seconds while browsing in your favorite places on the web. The AI assistant can also give you asset information based on your particular patterns. If you are transacting ETH, it can tell you the current price on a given exchange, current gas prices, and so much more.
Unlike other solutions in blockchain today, the Coin Exchange brings an all-new approach to the user experience in a complex and confusing industry. Coin Exchange creates a seamless, simplified, informative, and secure experience, all while browsing the Internet, to help all of us begin to understand cryptocurrency. Coin Exchange truly is the Grammarly of Crypto.
“By leveraging emerging technology, we are placing the power back into the hands of the people, and empowering consumers to manage their wealth with an innovative digital assets experience that is simple, secure, and personalized,” says Damon Nam, founder and CEO at Coin.
The company founder has every right to be confident that his solution is going to break the ice for people new to cryptocurrency, but also convince enthusiast to switch their current provider.