VERTEX MARKETPLACE FOR CRYPTO
Hello friends, let's talk in this article about cryptocurrencies, which are used as a transfer of value through the Internet.
Digital currency digital money or electronic money or electronic currency is a kind of currency that is only available in digital form, not physically like paper money and coins. It shows properties similar to physical currency, but allows for instant transactions and transfer of ownership without limits. Examples include virtual currency and cryptocurrency or even the central bank issuing digital money. Like traditional money, this currency can be used to purchase physical goods and services, but may also be limited to certain communities such as for use in online games or social networks.
The term cryptocurrency or crypto currency is a controversial digital asset designed to work as a medium of exchange using cryptography to secure transactions, to control the creation of additional units and to verify asset transfers. Cryptocurrency is a type of digital currency, alternate currency and virtual currency. Cryptocurrency uses decentralized controls as opposed to centralized electronic money and central bank systems. The decentralized control of each cryptocurrency works through blockchain, which is a public transaction database that functions as a distributed ledger.
Presentation Vertex, I thought it was yet another marketplace on the blockchain. There are a lot of those and we did not need yet another one. However, to my amazement, they came up with this innovative idea of creating the first market combining trading, venture capital experience, and fair-value-based tokenization. It sounds like a bunch of buzzwords but when asked about it in their Telegram what they state is that this is an ICO aftermarket.
Let me tell you what I mean. Let’s say you saw this ICO that the buyer hordes rushed to the ICO like crazy, they sold out, and you now think you are too late. This situation does not happen a lot in 2018, but it does happen when the ICO is very good or collected some private investment or made a great deal. For example, you cannot buy Telegram ICO tokens now even if you wanted to because they are only sold to private investors, or you cannot get your hands on Sparkster tokens because they were sold out under 36 hours. It used to happen all the time in 2017 and earlier. Vertex proposes a solution to this. They will vet ICOs using a 6 step process and a team of experts. Then the team will invest at least half a million USD to the vetted ICO. That investment alone will raise the status of the ICO and will give prestige to its reputation. Here is a short and sweet video explaining what they do:
Vertex will have experts and use unbiased predictions to get tokens from solid ICOs. Then they will let their customers, namely token owners, purchase these lovely ICO tokens from their marketplace. This means that if the marketplace is successful, the value of VTEX tokens will increase due to the high reputation of the said marketplace. This, of course, depends on the success of the team of experts for vetting the ICOs and the 6 step program they will use for the vetting process.
I have been wanting a platform to evaluate ICOs for me and I have been using icodrops up until now mainly because they show the amount of investment an ICO is collecting. In other words, I am trusting that if an ICO is getting a very good investment, they are just fine and dandy. However, the history teaches us that Hitler was able to get the crowds to himself and sometimes flies gather around filth. Though the crowds are correct many times, they can be wrong and stupid, which can also be shown in chess matches that are played by the World vs Chessmaster games, almost always the chess master wins. When the crowds are wrong, you can use the scientific predictions made by experts. In my day job, I use BLUP, or Best Linear Unbiased Predictions, which gives me genetics predictions to the next generation.
The vertex whitepaper states that https://vertex.market/static/whitepaper/vertex_whitepaper.pdf they will collect data, run an analysis, discard the bad one, run a deeper analysis, then finally have a face to face talk with the team. If an ICO is picked, the vertex team will ask for a discount to purchase a large number of tokens. That sounds nice, though they could include some more materials and methods in terms of the deep analysis. I guess they do not want to explain their methods in detail to prevent ICO adaptation to some metrics. This is similar to what Google has been doing, they are hiding their algorithm to prevent cheating.
In summary, I am very happy that a company will do the hard work, and select ICOs for me. If the ICO they selected tanks, there is someone to blame! If it makes money, the more the better. After all, profit is its own reward :)
Thank you once again for taking the time to read this article, and thank you a million times for your support of Vertex.
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author :Chubylaw
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