Review on MidasProtocol by gregori cordova
a project with quite considerable innovations to offer to traders
The world economic system has been perceiving many changes in recent years, especially with the arrival of blockchain technology and cryptocurrencies to the market. They are an enormous amount of possibilities that can be obtained with them, and many users already know it, but still, despite the fact that the volumes of transactions on a global scale with cryptocurrencies have surpassed even banks that have been established in the industry for years, or the market capitalization of a Fiat currency like the ruble, they only reflect a worldwide adoption of about 1% and this is because most people do not know how to proceed as there is too much information, unreliable companies or ponzi schemes who are dedicated to swindling people with little knowledge in the area. In this sense, Midas protocol wants to make a radical change and offer a solution, to exchange all kinds of digital assets on a single platform, where all kinds of traders, both novices and experts, are welcome. One of the strengths of this project is undoubtedly its encrypted wallet, capable of storing all kinds of cryptocurrencies, avoiding the loss of time that occurs when exchanging one token for another and managing different wallets. This multi wallet will be available for all operating systems, both for PC and mobile devices and will have an AI advisory system, in terms of trading so that less expert users can obtain better options to make their investments. Through the application of AI, users will receive news related to their cryptocurrencies, rating them as positive, neutral or negative so that they can make a quick and efficient management of their assets in case of some bearish movements for example
It is a project with high levels of decentralization, in which users are always the most benefited, as they have a wide range of mechanisms to be able to make more accurate decisions when trading, at the same time that they have high levels of security when storing your digital assets, as well as when making transactions
Pros
- They offer an encrypted wallet, which will support various types of cryptocurrencies, thus solving the inconvenience of managing different wallets for each type of tokens.
- They have an alert system via AI so that novice users can better guide themselves when trading or managing their investments, something that is not very common in any of the existing exchanges
- The cryptocurrencies stored in the wallet can be easily spent on any e-commerce platform that accepts digital assets as a payment method
- They allow the conversion of cryptocurrencies into fiat money
- The wallet will be available for all mobile and web operating systems
- It will be a very useful alternative to store tokens that are not listed in very popular exchanges
- They have plans to offer in the future, atomic exchanges between different blockchains
- They offer good security mechanisms when managing our wallet, since the private keys will only be in our possession
- Compared to other exchanges, with midas protocol many types of orders can be placed: limited, limited stop, conditional, etc.
Cons
- It is a new and developing project, which has a lot of competition in the current market.
- It is not a project yet very recognized in the industry and they still have a long way to go
