Recent developments in cryptocurrency ICO news has quickly put a new name into the market’s focus. The Covesting copy trading platform infrastructure has the following four elements that form a part of the trading infrastructure:
• Investors account section: This section provides the users with multi-currency wallets, statistics and portfolio overview of their investment.
• Model Manager account section: This section allows Model Managers to create a maximum of 10 trading Models by linking external trading accounts through Covesting’s API.
• Marketplace of trading Models: This place is where each investor gets the facility to search and compare all of the strategies provided by Model Managers. This is the place where investors select the most appropriate trading Models.
• Covesting segregated trading accounts: These accounts are used for replicating the trading activity. Covesting uses API connections and smart contracts along with other development to carry out and mirror trades, dole out requested funds and make available comprehensive performance data to all the users working on the backend.
Apart from the above four elements, the trading architecture of the Covesting copy trading platform also includes the Covesting Token and Covesting Emission.
The Covesting token is an ERC20 token built on the Ethereum blockchain. It is a smart contract system which is designed to be used by members within the trading platform. Covesting tokens can be easily transferred between users and platforms. It can be smoothly integrated into exchanges too.
During the Pre ICO, a total of 20 million Covesting tokens were generated, including 1.5 million to conduct a Pre ICO, and the remaining 15 million to conduct a full ICO. Another 2.5 million will be shared by the founders of the Covesting platform. It will be locked in a smart contract (for 3 months) and the rest will be generated for bounty, advisory and PR pools.
The COV token has grown due to the acquisition of a large number of investors and model managers on the Covesting platform. During the initial launch of the Covesting platform, they had brought skilled experts onboard so that even naive traders will have the ability to choose between established trading strategies so as to make investing in cryptocurrency profitable. As the platform grows, it will drive diversification and at the same time will create healthy competition amongst all Model Managers.