Coinchum — A P2P Crypto Exchange Built By Experienced Traders

5 min readJul 29, 2021

Introduce

In recent years global finance has experienced tremendous progress. One of the most recent and significant advances in the world of technology is Cryptocurrency. To trade these cryptocurrencies people generally used regular exchanges where an order book is to match, buy, and sell orders between people. However, neither the buyer nor the seller has any idea who the other party is, and this provides all users with a certain level of anonymity and privacy protection. Bitcoin was originally created to enable peer-to-peer transactions. A peer-to-peer transaction means that you have data related to the person or entity you’re interacting with at all times, rather than interacting with. The information you have on that person can range from a bitcoin wallet address to their forum username, location, IP address, or can even involve a face-to-face meeting.

What is CoinChum?

Coinchum is a Peer to Peer marketplace with various cryptocurrency offerings, including Bitcoin, USDT, and Ethereum, XRP, and the Chum token. Coinchum integrates web-based features with an intuitive interface that enables users to learn from education resources, as well as trade cryptocurrencies using advanced market tools that allow for the efficient monitoring and analysis of market trends.

WALLET SECURITY

Coinchum’s wallet security is protected via MPC which is cryptographically secured and protects the wallet from any human error or cyber-attack. Security to a wallet address is necessary as many individuals and institutions are entering this ecosystem. MPC provides four layers of security. These consist of:

1st Layer — Multi Cloud with MPC:

The Multi Cloud provides security to the private key as it is never on a single device. The MPC and CMP (Certificate Management protocol) remove any single point of contact from both the internal and external hackers.

2nd Layer — Software Guard Extension(SGX) :

SGX is encryption by the CPU of a portion of the RAM (i.e. computer memory) used to store each private key. The RAM and data are encrypted in the SGX which protects them from any hack or malware attack, even if the hacker has overall control over the Operating System.

3rd Layer — Policy Engine :

This layer enables institutions and organizations to set their own approval policies for transaction, hence, it is called Policy Engine. The Policy Engine is also client-facing: it enables users to set their own rules and validation processes needed prior to transaction approval.

4th Layer — Settlement layer :

Since the deposit address’s authentication is automated, the settlement layer helps in mitigating risks by authentication rotation. This is very important as at stake here is institutional asset security.

Why Choose Coinchum?

Limited choices on coin selection - An open voting system to let users suggest or even decide which coin to list. Users can suggest a new PAYMENT METHOD, and such suggestions will be given priority.
Customer service- Coinchum will have an easy-to-use ticketing system, Fast replies from online chat, Fast resolution for login/account issues, Fast processing of withdrawals, Telegram groups to resolve customer queries on time.
Wallet security- At Coinchum Crypto assets are backed by insurance, also they are introducing various safety mechanisms like Anti-phishing verification, Advanced verification software, Withdrawal protection, White IPs to safeguard customers’ funds.
Crypto analysis tools- Information terminal where traders will find the position of whale account holders, global index, trading volume rankings, and so on. The powerful terminal lists important events and forthcoming calendar / seasonal events that affect cryptocurrency prices. Detailed price analysis for each crypto.
Cryptocurrency Academy- Explaining A-Z about the most popular cryptocurrencies. Education resources including videos, tutorials, trading strategies, and industry research. Users can post videos or articles on the Coinchum education channel, and other users can view or pay for the contents by CHUM token.
Inflexible fee structure — At Coinchum Fee structure is affordable and user-friendly. Users can deduct more fees by Chum Token. Tiered users have different badges and privileges
User Voice — Collect user opinions and suggestions on UX / UI adjustments and other user-oriented functions.

Roadmap

Tokonomics

CHUM is created on the BEP-20 protocol which is a token standard on Binance Smart Chain that extends ERC-20, the most common Ethereum token standard. CHUM is working as a native token of the Coinchum ecosystem.

Token Name: CHUM BEP20
Total Supply: 200,000,000
Private sale: 85,000,000
Public sale: 95,000,000
Soft Cap — 5,000,000 USD
Hard Cap — 20,000,000 USD

Usability

Fee payment — Trading fees can be paid with CHUM, at a discount to as much as 50% to normal trading and withdrawal rates.
Security deposit for buyers and sellers on the platform — Coinchum will set up different risk levels for payment methods. High-risk payment methods will require CHUM as a security deposit in order to significantly reduce and screen for fraudulent activities.
Voting rights for coin listing or other priority activity — Holders of CHUM will have the voting facility on the platform to suggest which coin to be list.
Rights to gain access to premium services from various education — Using CHUM token users can access various paid content on the platform for education.

Token Sale

The CHUM token crowd-sale is divided into two parts: private sale and crowd sale.

The private sale will begin on August 1 2021 and will end on September 1, 2021. Each CHUM will be priced at $0.30 USD.
The crowd sale will begin on October 1 2021 and will end on December 1, 2021. Each CHUM will be priced at $0.36 USD

USEFUL LINKS

Website: https://coinchum.co/

Twittter: https://twitter.com/Coin_Chum

Telegram: https://t.me/ChumToken

Whitepaper: https://coinchum.co/pdf/coinchum%20onepager%200607.pdf

Facebook: https://www.facebook.com/CoinChum-344694393302164

LinkedIn: https://www.linkedin.com/company/coinchum

Instagram: https://www.instagram.com/coin_chum/

youtube: https://www.youtube.com/channel/UC7121N0rFYGZpHbwoXUa6cA