In recent times, the number of cryptocurrencies and exchange platforms are increasing each year. Currently, there are 190 exchanges, compared to 70 exchanges three years ago, on 15 March, 2015. Demand to buy and sell is also growing as the number of cryptocurrencies and trading platforms increase.
There are currently 1,568 different cryptocurrencies available, as at 21 March, 2018. This breaks down to 654 tokens and 914 coins. It all started with bitcoin, which was first released on January 9, 2009, and various versions launched in the following years. The first experiments in altcoins started happening in 2011 with Namecoin, iXcoin, SolidCoin and others being developed and released. Litecoin followed soon after in the same year.
While this revolution is gaining wide acceptance, ParamountDax, a fully developed from the scratch, ready-to-use product implemented as a modern-age crypto trading exchange has arrived.
But before we go any further, please check out this video presentation to get even more acquainted
Now that I have your attention, let’s get right to it.
What exactly is ParamountDax?
As depicted above and as indicated on the official website of ParamountDax, ParamountDax is a fully developed from the scratch, ready-to-use product implemented as a modern-age crypto trading exchange. It aims to revolutionize cryptocurrency trading by serving as an ideal platform for crypto-to-crypto and crypto-to-fiat trading while also solving the issues faced by today’s crypto industry. ParamountDax aims to provide a sophisticated trading platform that really caters to the needs of the crypto community by offering intuitive user interface, instant liquidity, multilingual and real-time customer support and by enabling seamless, secure and riskfree trading opportunity at minimal fee.
ParamountDax allows you to manage all your digital assets effortlessly in a trading exchange that offers you:
Seamless, secure and risk-free trading opportunity at minimal fee
Intuitive user interface
Multi-lingual and real-time customer support.
The team envisioning ParamountDax as one of the fastest exchange, payment transfer and peer-to-peer transactional networks in the world - from the current 10,000 transactions/ second ParamountDax supports, we're improving to 2,000,000 transactions/second by adding cloud hosting and load balancing of each blockchain node separately into the network.
The ParamountDax wallet is made to support swift management of your crypto trades. For that, we created a platform that includes:
Over-the-counter (OTC) trading: the first OTC crypto trading desk in Europe, ParamountDax enables seamless operation of large crypto assets without the need for an escrow or a lawyer. Institutional trading made easy
Dedicated trade indicator that tracks and assists you with any profit or loss real-time data you need.
46% Daily Profit Share
Stop limit options and stop loss orders that empowers you to take more efficient decisions
Custom API allows the platform to benefit from continuous improvement from third-party developer contributions.
Strong referral benefits
The Solution Offered
Security issues solved follows a two-way approach to ensure the security of both users and the exchange.
The steps are:
Ensuring user security
Ensuring exchange security
Some of the protocols for user security are:
In order to log in to the ParamountDax website, a user won’t be allowed simply through a ‘login + password’ access type. ParamountDax will enforce a secure 2FA protection for the client. By default, weak 2FA like OTP/Google Authenticator / SMS won’t be authorized or will be only temporarily tolerated, since these methods are vulnerable to phishing attacks. This way, similar attacks to the one on Ether Delta will be avoided.
Password strength assessment
In order to ensure the password remains as strong and difficult to guess as possible, users are allowed to generate passwords that exceed the minimum of 8 characters. Moreover, passwords have to be a combination of case sensitive letters, numbers, and special symbols.
Account creation email
A user needs to verify their account via the email that he/she has signed up with. This ensures that in the future, a user will be able to recover their account if they have forgotten their login ID or password.
IP address verification through email
A user logging in to their account is allowed to access their account only when they are logging in from a verified IP address. For a new IP address, the user needs to confirm via a confirmation link emailed to their verified email (the one the user account has been created with).
IP address validation on withdrawal
For every new withdrawal, a user needs to validate their IP address through the registered email.
For every login, successful or not, a user is notified via email. Similarly, a withdrawal is also notified via registered email.
ParamountDax has implemented security protocols such as: Secure Header on HTTP Request / Response such as: X-Frame-Options, X-XSSProtection, HTTP Only, Set Secure flag.
Cross-Site Request Forgery (CSRF) protection for victims of fraud will be reported to the Administrator.
Suspicious users will be prevented by the xss-clean method which also prevents the malicious file from uploading.
Authentication & detection
Authentication & Detection will be provided by ParamountDax to make the transaction fulfilled by the participators to the trade.
Prevent DDoS attacks
The DDoS attacks can be prevented using periodic penetration testing, Custom WAF rules, security notifications, etc.
Secure web services
ParamountDax will offer a highly available and customized DDoS shielded hosting solution with network and application-level firewalls. ParamountDax will use secure HTTP headers like HSTS to enforce TLS encryption, and keep the passwords salted and hashed.
In order to ensure maximum security of the exchange, ParamountDax will conduct a periodic security audit so that vulnerabilities are avoided. For trader’s patience, we will sign a regular contract with some External Audit Agency. The name of Company Audit will be communicated soon through official ParamountDax social media channels.
In order to solve the liquidity issue and allow users to instantly trade their digital assets, ParamountDax will be adding its order book to a collective pool server—an order book shared among various crypto exchanges. This way, even if there isn’t enough liquidity on the exchange, it will get available through the collective pool. This enables users to quickly transact their trades.
Pre-sale token supply: 25,000,000 PRDX
Token supply: 40,000,000 PRDX
Total tokens for sale: 75,000,000 PRDX
Soft cap: 1,750,000 USD
Hard cap: 9,310,000 USD
Token standard: ERC20
Token price in USD: 1 PRDX = 0.15 USD
Accepted currencies: BTC, ETH, USDT, B2BX, DASH, LTC, NEO, XRP, PAX,BNB (EUR / USD)
Blockchain Platform: Ethereum
Country limitations: USA
Registration country: United Kingdom
Registration year: 2017
Office address: Paramount Blockchain Ltd :
Unit 3 Merchant, Evegate Business Park, Ashford, Kent, England, TN25 6SX
Company number 11357138
2% Bounty Bonus
10% Angel Investors
65% ICO Participants
22% Initial Development Cost
12% Liquidity Reserves
11% Team and Advisory Board
22% Emergency Reserves
Idea conceptualization and research.
Wallet development started
Platform Development started
PRDX campaign initialize.
Smart contract and token creation
Pre ICO Sale.
Community development started.
Whitepaper release V.1.6
Main ICO sale.
Participation in major crypto and blockchain events and conference
ParamountDax exchange release
iOS app development started
Android app development started
TFC (trading from chart / advanced) release
Hiring product designers and community managers
Release of multi token supported Smart PRDX wallet
Mobile version release IOS/Android
OTC section release
Dedicated blockchain release
Decentralized exchange release
MEET THE AMAZING TEAM
Roberto AL Hunaiti: CEO
Fabio Doria: CTO/UX Designer
Vijay Sharma: Marketing Manager
Andrey Romanov: Community Manager
Massimiliano Zanotelli: Maintenance Director
Cosmin Harangus: Technical Advisor
Darius Cupsa: FullStack Developer
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
For more information, please visit:
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2487106
Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.