ICTE is expected to start up their global federation of cross-blockchain crypto exchanges soon, alongside their ICTE Fund project.
What does ICTE provide?
‘ICTE benefits existing users of centralized exchanges as well as new users such as utility service providers, wallet holders, algorithmic traders, and institutional traders.’ ICTE, or Interplanetary Crypto Token Exchange, is a decentralized, cross-blockchain cryptocurrency exchange that operates with a global federation. So, there are certain instances, called Seeders, that are in charge of overseeing the operations that occur within their area of authority. Within their regions, there are of course other instances that govern their own “Satellite” instances. And finally, outside the Seeder level, there are the ICTE Core Network instances, which are able to govern entire the system and assure that it is safe, secure, and balanced.
Unlike most crypto-startups, ICTE has already prepared a high-performance PoS-type blockchain with instances running 24/7 around the globe. ICTE is issuing their token: IEO, and are offering a Crypto-to-IEO exchange option. Taking a part in their token exchange offer would let you immediately start sending IEO to your friends or to any additional accounts you may have, and also participate in the ICTE Fund project to earn even more IEO tokens.
Getting Tokens on the ICTE Blockchain
The method ICTE uses to exchange cryptocurrency from external blockchains to a transaction on their own blockchain is dubbed “Get IEOs”. IEOs are priced at $0.18 per token at the time of writing this article according to the rates page here. There, you can find real-time market data for 70+ cryptocurrencies and can even see rates priced in IEO or any crypto they support. According to other publications they have released, users can join the network by hosting an instance of the various node-types they have, where they would distribute the blockchain and IPFS file system in their region. Hosting your own instance has many benefits, such as earning block rewards and transaction fees, hosting and advertising services with a customizable website and mobile application, and using an ICTE Fund.
The ICTE Fund project is a competitive procedure to split up excess block rewards among the groups of people that have holdings in any particular fund. A fund is a collaborative effort to hold cryptos towards a certain node and its performance. High-performing nodes would process more transactions and receive more rewards from the blockchain from doing so. For holders, having a larger amount of IEOs locked under a fund gives them a cut of the rewards that the fund would gain, proportionate to their holdings. Participating in a fund is a simple way to get access to rewards without running a blockchain.
The Future of Cryptos
ICTE is creating a network of exchanges that can facilitate crypto-to-crypto transactions and even crypto-to-product or crypto-to-service transactions so that service providers can sell their services and get paid in whatever cryptocurrency they want. This is the next step to globalizing the use of cryptocurrency.