Vault of Satoshi Closing down, Developers Working on Non-Crypto Project

Canadian crypto exchange, Vault of Satoshi (VOS) will be closing shop on February 5th.

In an announcement on its dedicated subreddit, company representatives said that the decision does not stem from any "unfortunate scenario" such as insolvency or stolen funds. In fact, the post says, "to this day we are proud to have run the first full proof-of-reserve exchange in the industry, with strict compliance and security regimes."

Rather, the team behind the exchange is working on a new non-cryptocurrency related project: TurboFlix, a service that gives NetFlix users access to more content. The post says that the new project takes greater priority and that faced with a choice on where to focus its efforts, the company does not have time to continue operating both businesses.

The exchange arguably enjoyed its finest moments nearly one year ago, when it added numerous Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Read this Term to its offering, available for trade against USD, CAD, BTC and each other. Among them was Dogecoin (DOGE), then at the pinnacle of its glory days. Its debut on VOS made the exchange, at that time, a rare venue where DOGE can be traded directly against fiat.

Looking beyond the post, however, it is possible that the exchange simply could not generate sufficient volumes to continue operating. Complicating matters was the suspension of its offering for US clients, followed by an uphill trek to resume the service, state by state.

Overall, its robust platform and top-notch security differentiated it from others. However, the crypto exchange market is getting increasingly saturated, and those with the best Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term, spreads, fee structures and features are most likely to survive.