The modern market of crypto currency is growing every day. Currently, people use them for various purchases. But most of the existing exchanges are centralized and subject to an unreliable third party. The only correct way to exchange crypto assets is a decentralized way. Using the technology of blockade. It is suggested by the platform weiDex.
About the project:
weiDex is a full-featured decentralized exchange platform. It guarantees
maximum possible security, full transparency and open source logic.
The main idea of decentralized exchange is the elimination of third parties
without collecting personal data, such as e-mail, name or
an identification number. All the logic is in a smart contract. Therefore, only
users have the right to control their assets, thereby
errors are not possible. WeiDex supports all tokens based on Ethereum and
By the end of the year will support the markers Neo.
How the project works:
User 1 generates a random secret key K and hashes it using SHA256
to generate a secret lock H (K).
User 1 uses a secret lock and bitcock script to configure
transactions with the User 2 provided that he creates a secret key.
User 1 sends the secret lock H (K) to User 2 together with the address
its transactions on a block chain.
User 2 checks the transaction with User 1. If he does not agree, you do not need to do anything. After X hours, User 1 can return its funds.
User 2 calls a contract function with a unique identifier that was created between the two traders. He also uses the secret lock H (K)
which was provided by the User 1.
User 1 uses a different contract function to check the details of the transaction.
If he does not agree, he does not need to do anything. After X
hours, User 2 will be able to call a contract function, receiving a refund.
Now User 1 can present the secret key K associated with the secret
blocking of a smart contract. If he provided the correct secret key,
the contract will transfer the data.
User 2 can now purchase a secret key K.
User 2 provides a secret key To the User 1 script and it
receives his transaction.
The same process can be used using any token.
The main advantages of the project:
Low duties.
Compared to other platforms that require long procedures and huge
WeiDex is economical and minimizes the loss of time. The platform is created in a very fast and efficient block network. Users will pay only a small amount. Moreover, after reaching a certain amount, there will be no fees. If the daily volume of exchange is 1000 ETH, then all transactions will be completely free for the rest of the day.
Referral system.
The number of invited users on the platform determines the number of bonuses that the user will receive.
Executing multiple orders.
Developers want to give all users the best and most convenient way to trade. They
Implemented the implementation of several orders! This means that the user will be able to set an order for a certain amount and our clever contract will necessarily take
as many transactions as necessary to fulfill the request. It's very time-saving
for all users.
Cross-chain transactions.
Cross-chain transactions are the main plus of the project. This is one of the
the most difficult and unresolved problems in the detachment. Developers will use different locks in their ecosystem, hoping to combine them in a decentralized and safe mode into an exchange of trading assets with separate block chains. There is another solution to this problem, and these solutions include side chains or atomic swaps, but the developers offer a new innovative solution that will use a token and a smart contract.
ICO Details:
Coin types: Erc20
Name of the token: WDX
Hard Cap: $ 15,000,000
Bounty budget: $ 250,000
Bounty distribution: After ico
Road map:
August 2018 - beta release platform.
4th quarter 2018 - platform release.
2019 - integration of tokens on the platform.
2019 - Implementation of the Cross-chain in the platform.
Conclusion:
A strong team and many features make this project one of the best on the market. I advise you to pay attention to it.
More about the project:
Website: https://weidex.market
WhitePaper: https://weidex.market/images/whitepaper.pdf
Telegram: https://t.me/joinchat/IvU-mxJSkHeHzcms-S1ZYQ
Facebook: https://www.facebook.com/WeiDex-163716047661387/?_rdc=2&_rdr
Twitter: https: //twitter.com/weidex2
Bounty: https://bitcointalk.org/index.php?topic=4591905.msg41439556#msg41439556
ANN: https://bitcointalk.org/index.php?topic=3528227.0
Author: https://bitcointalk.org/index.php?action=profile;u=1688689