Review on BitBay by Syed Adnan
A unique cryptocurrency.
It uses the idea of dynamic get on the rhythm, for example, changing the supply to keep the value of the coins relatively flat, making it easier to buy physical items using the coins. For secure transactions on the platform, it enables two-factor authentication as well as a multi-signature wallet.
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Pros
- It uses smart contracts to ensure the proper delivery of products or services purchased using escrow for unreliable and secure transactions.
- It uses a double deposit system to ensure that its market transactions are truly decentralized. Both buyers and sellers are partners in the success of this transaction.
- It has a reputation metric that lets users understand how much the opposite party has to trust. A party with little reputation or no transaction history may have to hold more funds in escrow than a person with high reputation.
Cons
- It has surpassed its share of ups and downs, with the highest value being at least 5000 times the minimum, though the value has not gone above 0.5!
