Review on VENA by jesus ruiz
VENA, open protocol, secure and decentralized network
Headquartered in China and founded in Singapore VENA is an open protocol project based on the Blockchain, in which the individual can transact between cryptocurrency and fiat currency and use the cryptocurrency as collateral for borrowing without relying on third parties. This is suitable for its users to define a number of decentralized asset issuance methods according to the rules of the contract, which helps in offline asset creation.
VENA provides users in the trading market with accurate market data, as well as a fair, transparent, secure and very low-cost OTC trading and collateral lending service.
VENA has a non-profit Foundation set up by the VENA team in Singapore, which is responsible for ensuring the sustainability of the VENA project, the effectiveness of decentralized governance, the security and transparency of fundraising, and the development and business innovation of assisting startups based on its protocol.
Through the Vena Protocol, a decentralized digital asset integration network can be built. In this global network, anyone can conduct digital asset mortgage lending and peer-to-peer OTC transactions anytime and anywhere, enabling the free circulation of digital currency and legal tender.
Users' digital assets are deposited in their own wallets or locked into smart contracts. The Vena protocol does not escrow users' digital assets, thus avoiding the moral hazard of absconding with the platform.
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Pros
- VENA is a decentralized open protocol network.
- Offers its clients OTC Transaction Services
- Offers security, transparency and low transaction costs.
Cons
- none at this time
