It's another beautiful day and the start of another awesome week! Move that body and do some twist and turn before heading to the shower. Keep the energy up as we move on to the next steps here in our Journey to the Unknown.
Last week, we've discovered that indeed, the Virtual World in the making called Virternity, has their own exclusive virtual currency, Virie. We also know by now that it's already out and can be used as a medium of exchange for goods, services and other currencies. They have their own untraceable blockchain that hosts not only the economy of the virtual world but the whole project itself. We have also discovered that they have their own Distributed Exchange Network and Escrow System.
Today, we will expound further on what an exchange network is. Some of you who are into cryptocurrency investment probably already have an idea about it but isn't it always good to know more? Well, most countries if not all has their own exchange network where trading of currencies, good, stock, services happen. New York Stock Exchange is the biggest in the world followed by Japan Exchange Group and Shanghai Stock Exchange among others but these however do not trade digital currencies.
Digital currencies have their own exchange network called Digital Currency Exchange (DEC). This is the platform used for the exchange of digital currencies for other assets like fiat currencies or other digital currencies. This, however, charges a fee whether as a market maker or as a matching platform.
This is how the Distributed Exchange Network of Virie differs. This will allow the users to exchange currencies, goods and services outside the existing exchanges and similar brokerages. That said, it eliminates the need to pay a fee making it less costly. We don't have to send money to an exchange and wait until they process the transaction. The DEN will enable direct buying and selling without a need for a brokerage.
All these features will make the DEN and the Virie, the easiest to use cryptocurrency, less costly and very simple. On top of that, there is no danger of being hacked, crashing or power outage on the network at it does not have any central servers. Instead, it resides in their own blockchain. In essence, Virie is not just another cryptocurrency but it is a system in itself.
Wow! This project really looks great and unique. The more I learn about it, the more that I'm amazed and the more I get convinced. If you have been reading my blog series here, please let me know what you think about these whole thing in the comment section. Please be very kind also to hit the heart button if you liked it. I'll talk to you again tomorrow my dears. Ci vediamo domani amore mio!