Review on Scopuly by Japheth Ayuba
Scopuly solves a lot, But can it be Trusted?
Scopuly stands out among many other Projects built on the Stellar Blockchain. The project offers a lot for a single entity as this include it's wallet used to store stellar assets. The use of its token SKY to make peer-to-peer transaction, speed of transaction is usually in less than a minute and the coat is extremely low. There is also SDEX on this project of which can be used to exchange coins of even different assets of different blockchains such as Bitcoin for XLM
The scopuly wallet can be used store and spend crypto assets with much ease. It's decentralized exchange platform tagged SDEX can be used by any entity to carry out crypto swaps without the need of an Intermediary to facilitate this exchange or miners to confirm such exchanges. One best part of SDEX is that no trade fees are charged or commissions paid to any entity. On Scopuly, one can easily create a tokenized representative of a physical product in a simple way as it requires no technical process. After tokenizing one's asset, there is an IEO launchpad on the platform without paying a dime. The wallet provided by the platform is a Decentralized one as the users hold their private keys or backup phrase. Added security features to the wallet is Multi-signature and as the wallet is accessible on any device, it boast of a cross-platform wallet
As the Stellar Network is focused on fast and low cost transaction of crypto asset, Scopuly being built on its Blockchain makes it scale a lot of issues currently faced in the Crypto industry and is why it can be recommended. On Coinmarket, the projects token SKY is dubbed as an untracked listing which makes it suspicious, other than that, it's a great project with all crypto issues tackled head-on
Pros
- This is a project with multiple use case which includes it to be used to store stellar assets, make peer-to-peer transaction, trade other assets, invest and create & issue crypto assets built on the stellar network
- The cost of making peer-to-peer transaction is extremely low
- Transaction speed is usually made in less than a minute
Cons
- The UI on which the project is hosted isn't cool enough for confidence boost in investing into the project
- The scopuly token SKY is dubbed as an untracked listing on Coinmarket
