Exscudo will be a cryptocurrency exchange powered by a proprietary blockchain called EON, developed by the Exscudo founding team. The exchange intends to launch analytic tools as well as social trading functions such as ‘copy trading’ and trade signals. Exscudo also plans on developing a cryptocurrency debit card and POS application.
The core of the exchange, order matching and trading, is based on a centralized server. The EON blockchain acts as an intermediary between currencies and an auditable ledger of customer funds. When a user deposits money into their account, the EON blockchain automatically issues a meta-token backed by their deposits. These meta-tokens are used to transact across the Exscudo network and to manage fee payments in any of the currencies supported by the network.
This enables Exscudo to operate with full auditability and not use the hot and cold wallet systems exchanges typically use. It also allows for the more secure storage of customer funds: all actual funds can be held in cold storage while auditable trading occurs with the meta-tokens.
The EON blockchain will also be a platform for the creation of dapps. The first dapp they plan on launching on EON is Exscudo Channels, an encrypted messenger and payment tool that aims to make sending cryptocurrency to friends and family easier.
The object of the Token sale are EON tokens which allows holders to participate in a delegated proof-of-stake consensus process. 25,000 EONs are required to set up a consensus node. Node operators are rewarded with a portion of the fees collected over the network. Participants in the token sale also get zero fees for all transactions up to the daily volume equal to the amount they contribute.
CEO Andrew Zimine and the rest of the Exscudo team have been extremely responsive to Smith + Crown’s requests for information. Andrew Zimine met with us over skype for a lengthy interview about the Exscudo platform. In response to our concerns about the transparency of the team, they created a company profile for Exscudo on LinkedIn with links to profiles for several team members including lead developer Alexey Rebyakov, head of project development Dzmitry Ivanouski, and PR manager Ekaterina Kozyreva.
|Role of token:||Used in PoS consensus.|
|Token supply:||240 million.|
|Distributed in ICO:||150,720,000|
|Emission rate:||No new coins created.|
|Consensus method:||Delegated Proof of Stake.|
|Sale period:||April 25th, 2017 to May 31st, 2017|
|Token distribution date:||1-2 weeks after the token sale.|
|Minimum investment goal:||1,000 BTC|
|Maximum investment cap:||30,000 BTC|
|How are funds held:||On a public multisignature wallet|
|Mainnet release date:||Trading is scheduled to launch in quarter three of 2017|