Crypto Markets and CREATIVES®
The crypto market has shed billions amid a week of bearish news, as Chinese payments associations reiterated warnings against crypto speculation (one of the sure signs we have a correction). The gas price and centralised exchanges are worrying to many.
We are glad that the lack of sustainability in some areas of the crypto markets are being questioned, as long-sightedness is a priority for CREATIVES®. It makes us even stronger in our conviction to progress with our plans already set in the process.
While the demand for the Ethereum network has skyrocketed, as a result, the average transaction costs set a record with a gas price of 1429 (May 19th at 15:20 CET) Ref: https://www.gasnow.org/ and https://ethereumprice.org/gas/
We are determined to deliver More money, faster – while causing the least possible imprint on climate.
In plain English: We don’t want to pay $10 for a single CREATIVES® transfer and up to $25 for a simple CREATIVES® exchange transaction at a huge environmental cost!
The Bitcoin network can conduct roughly five transactions per second, for an energy cost per transaction of 830kWh.
Ethereum can conduct around 15 transactions per second for an energy cost per transaction of 50kWh.
The NIM CopyrightChain can conduct some 4500 transactions per second for an energy cost per transaction of 0.035mWh.
I rest my case…
To be registered on centralised exchanges like Binance and Coinbase are simply not as attractive as it used to be with decentralised exchange and liquidity swaps coming to age.
Binance is a leading centralised exchange that deals in the trading, buying and selling of a huge selection of cryptocurrencies. And yet, Binance has had more outages and instances of shoddy performance than any DEX (I speak from personal experience)…
With a DEX gateway, you can trade across all major exchanges, both centralised and decentralised, from the safety of your own wallet (account). You don’t need to open an account with each digital exchange. It is literally a door that opens up into all the exchanges while allowing you full control over your assets.
To make the most efficient use of NIMs ecosystem we are currently concentrating all our efforts on the Avalanche technical platform.
The tech team have been discussing the move for months and (also) in light of recent events, we firmly believe in the Avalanche platform and a NIM gateway “controlled” by a single NIM account (wallet).
At the same time, we are changing the baseline fiat currency from Euro to US Dollar in accordance with our global rollout!