After a long period of development, the new P2P-platform localethereum.com was opened for registration, the project blog says.
On the home page of the site localethereum.com, you can see their message about the opportunity to register an account. Also, the site reports that the first three months of trade will be carried out without commissions. The bidding is scheduled for October 21.
As noted, the platform is a p2p-marketplace for trade in the cryptocurrency Ethereum. It is similar in many respects to such famous sites as LocalBitcoins and LocalMonero.co and has a number of innovative functions.
As the developers assure, users of the platform localethereum will have full control over their means. All deposits in Ethereum will be sent to the encrypted client wallet embedded in the browser. Each user of the platform is assigned a public and private key. Thus, user facilities are stored in a decentralized manner and are not available to localethereum owners.
Trading operations are protected by end-to-end encryption using "smart" algorithms. The conditional deposition of funds will be carried out through smart contracts.
Earlier ForkLog reported that due to the closure of local exchanges, many Chinese traders began to prefer the popular p2p-platform LocalBitcoins.
Ethereum is a blockchain-based system that allows smart contracts. It means that the parts involved can code specific contracts that should trigger the specified conditions at a predetermined time. The Ethereum based smart contracts are automated and represent a great instrument that makes it easy to do business and negotiate. Since the blockchain technology is a distributed and decentralized database system, there are no intermediaries. Still, the system enforces the duties of all parties involved. One can spend less and get greater security.
At the moment of writing, ETH/USD quotation is at $287.66, up 2.38% today. The total market cap of ETH is $27,273,454,936.