Los Angeles, California–(Newsfile Corp. – November 19, 2021) – Centcex, a Coinbase inspired blockchain-based cryptocurrency exchange, has been launched and registered a skyrocketing growth of 3000%. Centcex was expected to do well after the team announced that it is building the next Coinbase. The team says they are building the next Coinbase, and the project whitepaper and roadmap are very convincing.
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As a Coinbase inspired project, Centcex team is building an exchange that will address Coinbase shortcomings. The main Coinbase shortcomings Centcex is going to address are the user scalability and security, which are affecting Coinbase users’ experience.
The promise to build the most scalable and secure exchange than Coinbase is what is attracting prospecting investors to this project. The recent past has seen many security breaches on various exchanges, including Coinbase. Many crypto investors have lost their hard-earned money to these hackings, even at Coinbase, this is why Centcex is eliciting interest.
The latest hacking at Coinbase occurred at the end of September 2021. Coinbase has been having security issues, but in this one, more than 6,000 Coinbase customers. The attack compromised Coinbase SMS-based authentication and stole investors’ crypto coins.
Centcex says they are eradicating such Coinbase security breaches by building a watertight exchange. The team says the exchange is going to give users better security and privacy features than Coinbase. Unlike Coinbase, Centcex is building an exchange that runs Proof-of-Stake consensus protocol, popularly known as PoS.
The PoS consensus mechanism is going to enable Centcex to address Coinbase security and scalability issues. The proof of Work (PoW) that Coinbase is using is prone to attacks. With the PoS consensus method, the building of new blocks on the blockchain and verification of transactions is done by the validators.
With every transaction being verified by the validators, it is very difficult for hackers to prosecute a transaction. This is how the security of the Centcex will be better than that of Coinbase. Centcex is also addressing Coinbase scalability by using the same PoS protocol. PoS makes it easy and fast to produce blocks on the blockchain, which increases transactions per second, and that’s how Centcex will record higher scaling than Coinbase.
With the scaling and security, Centcex is going to provide a better user experience than Coinbase. In addition to addressing Coinbase shortcomings, Centcex staking is another reason why Centcex has skyrocketed 3000% on the launch day.
To compete with Coinbase and other exchanges, Centcex is building a platform that is heavily rewarding users. Centcex staking program shares 100% APY of all revenues collected on its ecosystems. Such rewards are attracting more users, including the Coinbase community. Coinbase is not offering staking rewards on its ecosystem.
Centcex is soon announcing a public sale to raise resources to make the next Coinbase a reality. With the team addressing Coinbase shortcomings, Centcex will be a project to watch. Centcex team says it has what it takes to deliver the next Coinbase.
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