LocalCoinSwap: A decentralised crypto marketplace, owned by the community
March 11, 2018 7:23 am,
LocalCoinSwap (LCS) is a decentralised marketplace which allows buyers and sellers to trade directly in any cryptocurrency using any method of payment. LocalCoinSwap provides a safe, uncomplicated and fast peer-to-peer (P2P) trading platform, allowing users to freely exchange without unnecessary verification requirements or waiting times. The platform utilizes a secure escrow system that solves the inherent trust issues of online P2P trading. LocalCoinSwap is holding a crowdsale event of LCS Cryptoshares. Cryptoshares are a digital asset which will be used to facilitate distribution of all profits made by the LocalCoinSwap platform, in addition to all profits made by new business ventures under the LocalCoinSwap umbrella. Cryptoshare holders will additionally receive airdrops of new ICO tokens listed on the LocalCoinSwap platform. The platform implements a novel approach to traditional company ownership by utilizing blockchain technology to distribute the entirety of the site’s profits to holders of LCS Cryptoshares. This asset entitles investors to regular dividend payments denominated in all of the currencies traded on the platform. Holders of the Cryptoshare may also participate in the long run vision and decision making of the company itself through democratic voting in a proof-of-stake system. This replicates the dividend payments and shareholder voting of traditional companies, with the added benefits of blockchain technology and decentralization. Funds raised from this crowdsale event will be used to expand and speed up the development of the LocalCoinSwap platform and increase the number of cryptocurrencies which the platform is able to support on release. Centralised cryptocurrency exchanges in their current form are fraught with inefficiencies, security risks, long wait times and unreasonable verification requirements. This results in high barriers to entry for a huge number of potential users. Commonplace also are unethical business practices including insider trading, front running, and deceptive pricing. As long as these problems exist, there will always be a demand for P2P marketplaces. P2P marketplaces provide direct access between buyers and sellers, which represents the truest form of free market trading. The future of the digital currency ecosystem relies on the development of a robust P2P exchange which supports a diverse choice of cryptocurrencies. The innovative distributed ownership model offered by LCS Cryptoshares will bridge this gap in the market while delivering the profits of the platform back into the hands of its users. In addition, LocalCoinSwap will be the catalyst for expansion of the cryptocurrency market by enabling new users through the elimination of all barriers to entry.
Currencies offered as a dividend payment
LocalCoinSwap will launch with as many of the most-traded cryptocurrencies as development time allows. The initial launch aims for a minimum of the leading 10 cryptocurrencies. The platform will add new cryptocurrencies at a constant rate in order to encompass the majority of the cryptocurrency market. LCS Cryptoshares will entitle users to a vote in the listing priority of new currencies through a direct democracy contract using their voting tokens. LocalCoinSwap recognizes that the cryptocurrency economy is a constantly changing environment with new assets emerging on a regular basis. By actively engaging with the holders of Cryptoshares, LocalCoinSwap will implement the coins which the community wishes to trade.