KFC Exchange is one of the few global exchanges with the highest level of security and speed by applying the Crystal of BitFury and the ERC20 standard, has opened up a new path for investors and financial community. 70% of the revenue of the commissions generated from the Trading Platform will be paid daily to investors participating in entrustment to KFCE.
KFC Exchange applies high technology to its trading methods as well as its platform. And we will learn about the technology applied in this exchange.
1. ERC20 standard
Firstly, ERC20 standard, like other token standards, only defines the interface / API of the smart contract, not the implementation.
In smart contracts, code is organized into logical groups called functions. The smart contract interface is a description of what its functions should do and its implementation is the actual code of the functions.
ERC20 token is a smart contract that respects ERC20 standard. In fact, it means that smart contract functions respect the interface defined in ERC20 standard.
There is a group of functions that define smart contract metadata, such as:
- Decimal number
The software of ERC20 standard is the account system. ERC20 ledger manages Ethereum addresses and token balances, just like the bank manages the account owner’s ledger and identifier money balances.
In addition to storing the tokens, ERC20 tokens must also be able to transfer tokens. There are 2 functions in the ERC20 standards for that:
- Bank transfer
- Transfer from
The first function allows the token owner (identified by someone’s Ethereum address) to transfer the token to another Ethereum address. The cryptographic system of the Ethereum blockchain will ensure that the legal owner of the tokens has activated the function.
The second function allows the third party’s Ethereum address to carry out token transfers on behalf of the true owner of this currency. This is very similar to credit cards where merchants may be allowed to debit credit cards on behalf of their owners. The big difference is that in the case of ERC20 tokens, we only allow third parties to spend a specific number of tokens, but not large or unlimited amounts, as with credit cards.
The entire third-party payment process consists of 2 steps:
- First, the token owner approves a third party to spend the token money on their behalf.
- After that, the approved third party can spend the maximum amount of this token. These tokens can be sent to any Ethereum address.
2. Crystal of Bitfury
Along with ERC20, Crystal of Bitfury is also used by KFCE.
The Bitfury Group is the largest full-service blockchain technology company in the world. Like any new technology, the blockchain’s potential comes with a degree of risk. The Bitfury Group believes it is incumbent on them to set a safe and responsible path forward for people who use this technology. The company always work to ensure that their reputation and that of blockchain company is a top priority, especially KFCE.
Crystal of Bitfury analytics enhances due diligence and AML compliance procedures for organizations involved with cryptocurrency.
Comply with AML/CFT regulations when dealing with cryptocurrencies
Integrate Crystal analytics with existing AML/CTF procedures and mitigate risks of dealing with blacklisted coins.
Build automated, evidence-based AML procedures
Improve your AML tools with Crystal blockchain and crypto-asset due diligence.
Keep KFCE data secure
Deploy Crystal Pro in your corporate IT infrastructure to keep all sensitive data within the secure network perimeter. Crystal Pro uses only an incoming stream of data from the blockchain and sends no data outside.
Integrate cryptocurrency analytics into your operations
- Crystal Express is available online as a web-application.
- Crystal API is used for integration of the blockchain analytics data with third party analytical tools.
- Crystal Pro is deployed on your in-house IT infrastructure.
Crystal software will allow users to detect and monitor criminal activity occurring on the Bitcoin. Blockchain and avoid interacting with coins related to illegal transactions.
Crystal’s key tool is a “detailed risk scoring” solution that is able to track “suspicious” transactions to the final address or exit point. It can also calculate the risk score of any address, which is estimated based on that address associated with known illegal activities.
Along with 2 high technologies that KFCE applied to their program, we can completely believe in KFCE will bring the highest profit and secured investment to every investor.
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