Overview

10/09/18 09:04 UTC-4

Salt and credit system

SALT credit line
SALT credit line

A decentralized platform called SALT uses the Blockchain technology process to credit users who work with this shell. The process of agreeing loans is automated, and the crypto assets of network participants serve as collateral. The SALT credit line is not tied to the specific conditions of your transactions, so there is no longer any need to contact traditional banking institutions.

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Work principles

To start working with the SALT network, you need to pay membership fees that range from one to one hundred coins a year. Accordingly, the higher the user's status, the more money he can take on credit and get favorable terms for his return. Undoubted advantage for many people who dream of anonymity of their financial operations will be a simple registration system, which includes only the user name and his e-mail. At the same time, to obtain a loan, you must pass mandatory identification. The SALT platform is a convenient service for creditors who want to issue secure loans without the risk of losing their digital assets.

Unlike financial institutions that are always interested in your credit history, SALT does not request such data, based solely on the value of collateral assets. The very process of lending consists of a request from creditors, which indicates the payment algorithm and the maturity of the loan. If you sign a smart- contract, you receive money, which is transferred to a bank account. After paying the entire loan amount, the smart -contract returns your collateral and closes the transaction process.

On the basis of the SALT network, the analysis of the ratio of loans and payments, which is named Oracle, is functioning. Due to his work, the balance of financial transactions is automatically adjusted, which makes it possible to maintain the liquidity of loans at a sufficiently high level. To date, SALT is the leader among the cryptographic environments that work in the field of lending and use information transfer in the chain of blocks.

 

Capitalization

On the basis of the platform, there is a token of the same name, used as a lien on issuing loans. But over time, such a policy should change because such a condition is a compulsory step at the start of the network.

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After the growth of the value of the cryptocurrency at the end of 2017, the price for one SALT decreased in early 2018. So at the end of the first quarter of this year, the inflow of investment in the network was $ 200 million. Coins are traded on major Internet exchanges such as Binance and Bittrex, but you can only buy SALT for Bitcoin and Ethereum.
The most popular online purse for saving SALT is MyEtherWallet. Well, if you are aiming for absolute security, then you can use one of the two software purses Trezor or Ledger Nano S. There is also a variant of Jaxx purse, adapted for the software of well-known manufacturers.

 


The SALT credit system has already proved itself as the most promising platform with such functionality. As the leader in the industry of lending to crypto-investors from around the world, the network proposes to improve its work, bringing to the market modern products for its users.

Editor: Yuliya Soroka

#Salt #creditsystem #cryptocurrency #Blockchain

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