Decentralized Exchanges is a fairly new model in the cryptocurrency world, which reveals the ideology of decentralized blockchain where all stakeholders have an equal opportunity and rights to partake in the management of the Exchange’s activities and to execute any operations of cryptocurrencies. The major benefit of decentralized exchange is the highest degree of data confidentiality. For centralized exchange, although they provide their customers with a “ready” wide functionality, they have only one serious drawback which is centralization. Asides this, it is exposed to risks determined by the following important indicators such as; unfair competition, security, political risks and danger of sanctions. In view of this, it is important to opt for the decentralized trading platform to avoid all the risks highlighted above. We recommend one of the most advanced systems for creating and designing a decentralized exchange – BitShares 2.0 platform (Graphene). That is the framework we used to create the multipurpose decentralized Exchange – DEEX.
Why did we choose BitShares 2.0 as our framework? BitShares 2.0 is a blockchain based platform integrated with numerous high-tech features to create premium financial “smart contracts” for all sectors of the economic activity that are used in the internet world to provide services. This platform provides users with several options and advantages such as; decentralization, dynamic account permissions, high performance, referral rewards program, user-based assets (UIA), delegated proof-of-stake consensus (DPOS) and a host of others. You can now see the reasons why we choose this platform as our framework and design structure for creating DEEX exchange. BitShares 2.0 platform helps DEEX exchange to implement its functions and features in the following ways; buying and selling of tokens and cryptocurrencies, creating your own crypto assets, the creation of an ICO mechanism, making use of special gateways as mechanisms for securing funds on trading platforms, the creation of accounts with escrow etc.
DEEX exchange plans to implement the following functional which includes; API for the integration of services and third-party applications with the DEEX platform, cryptocurrency debit cards connected directly to users’ wallets on DEEX, a platform for safe ICO conduct and for designing a decentralized transparent blockchain framework, and creation of the customized agent network of crypto ATMs. The DEEX exchange will be available to everyone regardless of their skills or level of expertise to meet their demands. The advantages of DEEX are immeasurable and they include; mobile apps for smartphones (Android and iOS), desktop app for trading, trading robots, high liquidity, a network of crypto ATMs, low commission fees, two-factor authentication, a large number of trading pairs, 24-hour technical support, comprehensive and constantly updated documentation, merchant, and a host of others. The DEEX platform will generate profits via the following means; the transfer of around 0.5% of the revenue to the escrow account for sales of tokens, cryptocurrencies, and other digital instruments, the purchase of cryptocurrencies and tokens, the sale of the technology of data exchange and the deductions made from transactions.
The administrators of this platform plan to introduce some features in the future for the growth and sustenance of the platform. Professionals from the different field came together to build this platform and are being managed efficiently by them.
Author - Nezerlan
Bitcointalk
