The technology behind Changer (CNG) is rooted in blockchain technology, a decentralized digital ledger that records transactions across multiple computers. This ensures that the data is secure, transparent, and immutable. Blockchain technology underpins Changer by providing a robust and secure framework for its operations, which include facilitating the buying and selling of cryptocurrencies and novel stablecurrencies for hedging or speculating against the foreign exchange market.
One of the key aspects of Changer's blockchain is its ability to prevent attacks from bad actors. This is achieved through a consensus mechanism, which is a method used to validate and agree on the state of the blockchain. Common consensus mechanisms include Proof of Work (PoW) and Proof of Stake (PoS). These mechanisms make it extremely difficult for any single entity to alter the blockchain's data, as doing so would require an immense amount of computational power or a majority stake in the network, both of which are highly impractical.
Changer's platform is designed for professional traders, corporates, and institutions, enabling them to register on a web-based platform to convert crypto of any deal size instantly with daily settlement. This is particularly useful for exchanges, funds, and high-net-worth individuals who seek a single account with aggregated exposure across both crypto and forex markets. The platform's ability to facilitate exposure to fiat markets via privately issued stablecurrencies, instead of using non-crypto instruments like CFDs, adds another layer of versatility and utility.
The Changer token (CNG) plays a pivotal role in this ecosystem. It is a collateralized token that allows users to generate synthetic world currencies using blockchain technology. With CNG as the anchor, users can access a wider variety of crypto forex pairs using stablecurrencies. This innovative approach not only broadens the scope of trading options but also enhances liquidity and market efficiency.
In addition to its core functionalities, Changer Protocol is a procedure for implementing changes in a systematic way. This ensures that any updates or modifications to the platform are carried out in an organized and secure manner, minimizing the risk of disruptions or vulnerabilities. The protocol's systematic approach to changes is crucial for maintaining the integrity and reliability of the platform.
The blockchain on which Changer operates also employs advanced cryptographic techniques to secure transactions and user data. Public and private keys are used to encrypt and decrypt information, ensuring that only authorized parties can access sensitive data. This cryptographic security is a cornerstone of blockchain technology, providing users with confidence in the safety and privacy of their transactions.
Moreover, Changer's blockchain is designed to be scalable, allowing it to handle a large number of transactions without compromising speed or efficiency. This scalability is essential for accommodating the growing number of users and the increasing volume of transactions on the platform. By leveraging advanced blockchain technology, Changer ensures that its platform remains fast, reliable, and capable of meeting the demands of its users.
Incorporating these various technological elements, Changer provides a comprehensive and secure platform for market participants. The use of blockchain technology, consensus mechanisms, cryptographic security, and systematic protocols all contribute to the robustness and reliability of Changer, making it a valuable tool for professional traders, corporates, and institutions looking to navigate the complex world of cryptocurrency and forex markets.