The overall aim of SLT is to create a fast, simple, safe and clearly defined platform that everyone can understand without hidden intentions and costs. The platform also aims to emulate the very operational logic of the blockchain in its operations by catering to a decentralized market.
Instead of appealing to only a fraction of the available global market, SLT will allow anyone to have access to the platform, and it ensure that equal chances are given to all members to earn.
The final aim of SLT is to be able to deliver on the promise of instant payments and withdrawals using blockchain technology.
– Security breaches: Trading platforms and cryptocurrency exchanges have been the targets of sustained and regular attacks from hackers, fraudsters and a number of other undesirable elements. In a few high profile cases, they have actually been successful, eventually making away with hundreds of millions of dollars’ worth of client cryptocurrency funds and leaving both platform and customer financially wrecked.
A few customers who have managed to get past the buying and selling process with no incident have had the misfortune of using exchanges without adequate cybersecurity measures in place, and this has led to their cryptocurrency wallets being hacked, and millions of dollars’ worth of anonymous, untraceable coins being stolen. These stories also receive a substantial amount of media airplay, which feeds into an existing narrative of cryptocurrency being some sort of scam, and this further alienates potential investors and participants.
Transaction fees: Several platforms have delivered unpleasant surprises to their users in the form of excessive transaction fees. Perhaps as a result of the lack of volume resulting from their poor trading infrastructure and bad liquidity position, a number of cryptocurrency trading platforms try to make up for the revenue lost to poor transaction volumes by charging high transaction fees.
In essence, the idea is that instead of fixing the problems leading to slow transactions and the resultant low transaction volumes, users would simply be charged more to make up for the revenue shortfall. This means that investors lose both ways, both to the low speed transaction execution and poor security offered by most existing cryptocurrency trading platforms, and high transaction fees for the few trades that do manage to go through.