SRMA-An EOS-based decentralized wallet powered by Bancor Protocol, allow users to transfer tokens without exchange platforms.
SRAM is an EOS-based wallet that can realize decentralized token transfer. Utilizing the Bancor Protocol, blockchain-based smart contracts, and “connector” reserves, SRAM can achieve in-wallet token transfer without a centralized exchange— fast, transparent, and inexpensive.
With the official launch of EOS's commercial network, the SRAM wallet will process concurrent transactions faster and consistently. SRAM achieves quick cross-chain exchanges through a third-party payment protocol. It effectively solves problems like reduced transfer speed and lack of market depth, while also providing optimal asset management capabilities. Its technical features are as follows:
1. SRAM optimizes transaction depth through a technological route. We will implement the Bancor protocol for EOS-based decentralized exchanges. Classic economics presents a phenomenon called, “Coincidence of Wants,” where the supplier of good A wants good B, and the supplier of good B wants good A. It may sound like the perfect scenario, but in practice, the chances that good A's value will meet good B's exactly are minimal. The Bancor protocol then introduces a technical solution to solve this problem through blockchain-based smart contracts and currency reserves. The Bancor agreement allows everyone to hold tokens with one or several other coins, at pre-set rates, as their reserves. These token reserves can be fiat money, digitized assets (e.g., gold) or other cryptocurrencies (e.g., BTC, ETH, or SWFTC). The reserves are directly valued, regardless of transaction volume. Bancor also obtains exchange rates between token and reserves automatically so that digital assets can be exchanged back to their reserves at any time, with or without buyers. The Bancor protocol, therefore, addresses the issue of “liquidity” in financial markets, which is the difficulty of reaching absolute consensus between buyers and sellers. The more liquidity there is, the easier it is to complete a transaction. Solving for poor liquidity means that buyers and sellers have higher chances to find each other.
2. Bancor is a currency system that automatically converts encrypted assets without an exchange mechanism. As Bancor-compatible tokens are programmed to hold a reserve, they are inherently tradable and automatically priced through smart contracts. The exchange's primary function is to match two participants. The Bancor agreement then enables direct conversion between tokens without the need for a second party to participate in the transaction, or a third party to match the transfer.
3. The characteristics of the Bancor protocol are:
1) Human-machine trading - no trading counterparty, real-time redemption;
2) Asynchronous price discovery engine - Bancor algorithms obtain optimal redemption prices;
3) Information transparency - all orders are registered on the chain;
4) Small-scale or slowly-moving tokens can be quickly redeemed.
Poll
