CryptoLocally, a next-generation peer-to-peer (P2P) crypto trading platform recently made an announcement to allow P2P trading of SOL and DOGE assets. SOL leverages the blockchain’s permission-less nature to seamlessly provide high utility decentralized finance or DeFi solutions, while DOGE is becoming an increasingly eye-catching asset for a multitude of reasons.
The listing comes as yet another of CryptoLocally’s efforts to give the market a compelling trading experience on its P2P trading platform, which does include some of the most popular and exciting crypto assets in the industry. As many have pointed out in the past, this is one of the many reasons CryptoLocally is also emerging as one of the top P2P trading venues in the crypto market.
CryptoLocally prides itself for being the very first and only truly decentralized P2P exchange. This accomplishment was made possible through their GIVernance (GIV) initiative, a governance sharing model. It empowers GIV token holders to vote on proposed value-adding changes in the CryptoLocally ecosystem.
Token holders can submit projects for listing. The community then votes to approve or reject the proposal. The proposal will be passed if there were enough votes for it. Dogecoin is the latest digital asset to be included in CryptoLocally’s ever-expanding portfolio of cryptocurrencies listed via GIVernance.
As for Solana, the group behind SOL, their mission aligns with that of CryptoLocally: to provide a decentralized platform for users. By listing Solana, which is focusing on dApps and decentralized finance, CryptoLocally is looking to keep its promise to make financial assets more accessible to everyone across the globe. At the same time, of course, Solana will become more actively traded and viewed by the market through a decentralized and non-custodial channel. This listing is mutually beneficial for all parties: Solana, CryptoLocally, and the users.
CryptoLocally is one of the most trusted P2P trading platforms in the digital currency marketplace and involves no intermediaries — a unique factor that sets it apart from conventional exchanges. On CryptoLocally, people can buy or sell more than 20 different popular cryptocurrencies using their FIAT currency. These are all done securely under the protection of CryptoLocally’s revolutionary smart contract escrow system.
This means that users have the flexibility to execute transactions using any means they find convenient, be it one-on-one meetings, payment processors, and even bank transfers. The buyers and the sellers hold the sole right to decide which payment methods they want to utilize to facilitate their transactions.
Trading SOL and DOGE will follow the same easy and basic trading procedure that has helped CryptoLocally gain reasonable traction in the market. Moreover, the platform ensures that all transactions carried out by users are secured by a blockchain-based escrow service at every step
Solana is relatively new to the crypto industry but is making considerable waves due to its unique innovations. Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized applications (DApps). While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.
Solana is growing rapidly in the crypto space due to the incredibly short processing time it offers to users. Its blockchain’s hybrid protocol paves way for a considerable decline in the overall validation time when it comes to the transaction as well as smart contract execution. This enables SOL to provide lightning-fast transactions and processing time to its users and has helped it garner institutional interest as well. This unique and innovative SOL protocol has been developed with the intent to serve a wider audience segment which includes small-time users as well as enterprise customers.
DApps, frequently referred to as the future of application, creates incentive to not just the developers but also to the users as well. Traditionally, the majority of funds goes back to developers and ads, with little or none going back to the community. DApps tackle this imbalance and creates an atmosphere where both developer and user benefits unlike the traditional application. By embracing DApps, SOL will help to foster this into reality with its lightning real-time processing power and ease of use.
DOGE was created by Jackson Palmer created DOGE in collaboration with Billy Markus in 2013. It started off aswas a light-hearted and fun project without the seriousness or and often times drama-filled undertaking associated with intense competition between competing crypto projects.
Little did they know the project will gain a massive following from inside and outside of the cryptocurrency community. The project’s unique charisma of the project allowed it to quickly develop aits own vibrant online community and become of the most recognizable crypto in the space.
Celebrities and industrial leaders took the liking of DOGE, often sharing memes of the beloved Shiba Inu dog mascot and sending its price to the moon. Among these influencers is no other than the richest man in the world, Elon Musk, whose endearing tweets send crypto bulls into a Dogecoin buying frenzy.
Dogecoin uses Scrypt protocol like Litecoin but has a one minute block time compared to the Litecoin’slatter’s two and a half. In other words, Dogecoin offers faster transactions and confirmations. Dogecoin never positioned itself as a payment network like Litecoin, but it seems more than able to compete with Litecoin or any other altcoin for that matter.
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