Blockchain technology enables the community to replace business activities of individually centralized corporation at a global scale with networks of open, transparent and decentralized computing system that work across borders. For that reason, we then aim to create a trading and investment platform for digital assets and cryptocurrencies which authorizes the greatest degree of knowledge sharing, promotes the purest form of transparency whereby all trading activities and actions are recorded and become totally traceable, verifiable and auditable via utilization of blockchain technology. And most importantly, we are extremely determined to build a tool that helps simplify the trading decision for newcomers, who by and large are not as technologically and technically educated, compared to those industry veterans, by implementing the concepts of social trading/copy trading.
Before we move further, it should be highlighted one of the most striking characteristics of decentralized platform is mutual contribution. Every single user is momentous to the success of the platform. On CoinRadars, Ethereum is implemented primarily on the fundamental point of relationship in social trading mechanism, helping the system to identify and obligate one user to another, or in specific, a follower to a leader, via smart contracts. It also gives permission for the platform to standardize rules, penalty and settlement practice through such on-chain technology. Nevertheless, it is highly important to note Ethereum alone, from a functionality standpoint, is not sufficient to make CoinRadars operate in the most efficient way possible, as it cannot optimize trade order execution on a real-time basis, whereas timeliness in digital asset and cryptocurrency trading is of paramount importance. Most crucially, transaction cost on Ethereum is too high and is considered unsustainable in longer term for CoinRadars platform. We therefore need to build our own off-chain technology, an open protocol tailor-made for social trading purposes, called Carboneum.