The Role of Coral Peer-to-Peer in Decentralization

Introduction

Peer-to-Peer interaction is the foundation of all decentralization. The idea of being able to transact with another party, without intermediaries, is a revolutionary idea in the 21st century.

In a world dominated by centralized powers that dictate how business is conducted, the market is demanding a proper P2P alternative to the madness.

The blockchain space has been rapidly developing for the past few years. Explosive growth has come and gone in sectors like NFTs and liquid staking. At the beginning of any trade, there must be two parties involved: one buyer and one seller. Without either (or both) of those parties, there is no market.

In order to engage in P2P commerce, there has to be communication of some sort, whether in a private message or in-person. This supports our entire industry: without P2P, there is no cryptocurrency. The Bitcoin whitepaper makes reference to intending to create a P2P digital cash, that could operate without intermediaries.

Coral’s Mission: Restoring Financial Freedom through P2P Exchanges

Bitcoin was created to be P2P, even if it is largely traded on global, centralized exchanges. At Coral, we seek to reverse that trend, and bring back the core ethos of what cryptocurrency is supposed to represent: financial freedom.

There have been attempts in the past to create formal P2P exchanges, with mixed results. Whenever you remove intermediaries, you also remove a 3rd party from being used for important matters in commerce, such as: conflict resolution, handling disputes, and insuring funds to limit any potential losses.

Coral brings the human element back to cryptocurrency exchanges. With plans to launch later this year, we seek to offer what has been missing in the blockchain space up until now: financial freedom to transact how the individual parties deem appropriate.

Bottom Line

There’s no Market Maker selling your token against you while you attempt to swap into another. Without a middleman, you are able to transact in the quantities you and the other party decide upon – no broken price oracles altering the displayed conversion rates on an exchange.

Coral seeks to bring excitement back to the cryptocurrency industry by offering something unique that aligns closely with the cypherpunk movement and the early cryptographers who sought to enable business globally without exploitation by any middlemen.

Concluding Thoughts

As we prepare to launch our platform, we are positioning ourselves to be the go-to offramp from fiat-to-crypto and vice-versa. With a world full of potential new users, Coral is taking a different approach to acquisition: offering something genuinely useful to the users, with lower transaction costs than competitors. Coral seeks to become the go-to P2P swap in the Cosmos ecosystem and beyond.