Bitcoin prices plunged today on speculation that major crypto exchange Binance has been hacked.
The exchange has denied being attacked but several users reported that their altcoin holdings were liquidated unexpectedly and without consent.
There is speculation that Binance’s trading bot was at the heart of the issue, while others believe hackers may have orchestrated an attack on the Bitcoin exchange…
Binance has halted trading and withdrawals.
Full Story: – HACKED
Exchange hacks have plagued Bitcoin since inception, remember the Mt. Gox hack?
This constant threat of losing your crypto has given rise to the “decentralised exchange”, in this type of exchange trading is peer-2-peer and the private keys for the crypto is kept by the user/trader and not in the hands of the exchange.
The next evolution of this is what is called the “Embedded Exchange”.
Embedded Downloads the developers of the Embedded Vault announced that they are building a new “Embedded Exchange” that will be integrated into the Embedded Vault.
According to the company, this will be a major development project and the Embedded Exchange will be a decentralised cryptocurrency exchange.
“A decentralized exchange is an exchange market that does not rely on a third-party service to hold the customer’s funds. Instead, trades occur directly between users (peer to peer) through an automated process.”
The company also Embedded Exchange will not only be decentralised, it will also run inside the Embedded Vault which means the whole exchange itself will be encrypted, ultra-secure and all funds will be controlled by the participants themselves and not the exchange.
According to the announcement, the development on the exchange will start in the first week of March and will be completed within 9 to 12 months.
The company also announced that the Embedded Vault will be integrating all ERC-20 Ethereum tokens and this will create an environment for ERC-20 token creators in which they can easily develop their token and then launch their ICO.
With the ICO – All in One solution, they immediately get a wallet as well as a listing on the Embedded Exchange.
This will make the Embedded Vault and the Embedded Exchange an exciting product for ICO issuers to use. The company announced that they will actively be pursuing collaboration and alliances with the creators of new tokens and ICO’s.
Read the full announcement here: – Embedded Exchange
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