Bitcoin.org’s Cobra says decentralized exchanges are going to explode in popularity soon

The updates and developments in the world of cryptocurrencies have been guided by the proponents in the field, either because of their comments or due to their contributions to specific cryptocurrencies or networks. A popular trend that had picked up last year was the concept of decentralized exchanges, which was in the limelight because of the launch of Binance’s DEX.
The latest proponent to come out in support of decentralized exchanges was Cobra, the co-owner of the Bitcoin.org who claimed that 2019 was the glory year for them. Cobra’s tweet read:
“Decentralized exchanges are going to explode in popularity very soon. 2018 was the year of stablecoins which was the last step to make it possible for DEXs to interact with fiat. Coming regulation, burdensome KYC, exchanges being seen as “kingmakers”, all will push users to DEXs.”
The exchange being termed as ‘kingmakers’ can be attributed to the recent decision taken by the Changpeng Zhao-led Binance to delist Bitcoin SV [BSV]. Cobra was not the only proponent in the space who was critical of the delisting as earlier, Jimmy Song, a long-standing critic of Bitcoin SV shunned Binance’s decision. He stated:
“Unpopular opinion: Delisting coins is satisfying short term, but ultimately bad. It’s giving the perception that exchanges are king-makers or legitimatizers. They are not.”
Another proponent who echoed Song’s sentiment was Nic Carter, who pointed out that a ‘fraud’ should not be the deciding criteria for any delisting process. He had mentioned:
“If fraud from the chief promoters is sufficient reason for delisting from Binance… almost everything should be delisted. We’re still in the wild west era of cryptocurrency, like it or not totally unregulated, unaccountable exchanges are the kingmakers. I for one am excited for this to change.”
A positive push in terms of decentralized exchanges was given by Binance’s DEX mainnet launch announcement. The organization stated that they plan to execute the Mainnet swap on April 23 of this year.
The post Bitcoin.org’s Cobra says decentralized exchanges are going to explode in popularity soon appeared first on AMBCrypto.
Source: AMB Crypto

World’s First Lightning Network (LN) based Decentralized Bitcoin Exchange, ‘Sparkswap’ Goes Live With Beta Version

Sparkswap, the world’s first Lightning Network (LN) based Decentralized Exchange (DEX) went live with its beta version on Monday, 8th April 2019.
SparkSwap is an ambitious Cryptocurrency Exchange that is both decentralized and also world’s first Exchange built on the Lightning Network (LN). The private keys of the Sparkswap Exchange Wallets are held with the users itself providing protection from exchange related issues.
Terry Griffith, Sparkswap Founder announced that
Sparkswap, the first cryptocurrency exchange built on Lightning Network Atomic Swaps is live for trading on MainNet in its Public Beta.
Nevertheless, trading will be limited during the beta launch, and only BTC/LTC trading pair will be active as the developers perform would need the incubation time to assess the real-time operations.
Exchange of the Future
Lightning Network Atomic Swaps is the core technology upon which the Exchange operates. The Lightning Network (LN) on Bitcoin (BTC) will be used to facilitate the cross-blockchain swaps and transactions along with Sparkswap’s DEX software. Together they are both fast and reliable.
“At no point can either Sparkswap or your counterparty deprive you of your assets — the trades either complete or they do not,” Sparkswap Founder Trey Griffith told Bitcoin Magazine. “We are also a venue for trading, not an over-the-counter service like ShapeShift, so users are trading with each other.”
Griffith also noted that:
“Our focus is on making cryptocurrency trading fast enough for professional users without sacrificing Bitcoin support and self-custody,”
Snapshot of the Sparkswap Exchange
However, the user interface of the exchange resembles the DOS window currently, which might cause a hindrance in its mainstream adoption.
The platform was initiated sixteen months ago, soon after the Lightning Network development started on Bitcoin (BTC). The Exchange also stands as a testimony of the development of the Lightning Network (LN). While the founder agreed that ‘Lightning Network is not a finished product’ yet, but even now it offers a plethora of applications like cross-chain swaps.

One more step on our way to building infrastructure for the future of the financial system. https://t.co/wMGWZTDfUp
— Trey Griffith (@tgriff3) April 8, 2019

Moreover, the Startup also raised $3.5 million in the initial seed round from Initialized Capital, Pantera Capital, Foundation Capital, and Y Combinator. Pantera Capital is an investment firm and hedge fund operating exclusively on Bitcoin, other digital currencies and companies in the space.
Do you think that the exchange will gain mainstream soon like the Binance Exchange? Please share your views with us.
The post World’s First Lightning Network (LN) based Decentralized Bitcoin Exchange, ‘Sparkswap’ Goes Live With Beta Version appeared first on Coingape.
Source: CoinGape

Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future

Okex has announced the launch of its Initial Exchange Offering for its users: Ok Jumpstart. The IEO of exchange will help new projects and blockchain based projects to launch their tokens on the exchange.
According to their blog post:
By saving the time and resources for getting listed on exchanges, project teams will be able to focus on project development and community management.

We'll be launching #OKJumpstart very soon. Do you know what is an #IEO? https://t.co/AHDlYbZBnu
— OKEx (@OKEx) March 13, 2019

How is an Exchange Offering Different from an ICO?
While the exchange will continue to administer the working of the ‘Exchange tokens,’ an independent, autonomous team is designated the job of working on the Exchange Token.
Furthermore, the Exchange Offering is exclusively open for the exchange users only. While this creates an ambiguity as the exchange is open to the public. However, it gives assurance of KYC and AML compliance along with trust protection to the token holders.
         IEO vs ICO
The exchange reaffirms that an exchange offering is entirely different from an ICO as the exchange is a tangible running model, rather than an idea on a whitepaper. Hence, the chances of it performing, in the long run, are higher.
“Instead, the exchange is risking their credibility when doing IEOs, since it has no control over the IEO project team’s operation and product delivery as promised in the latter’s white paper… This provides an extra layer of protection to contributors.”
Also Read: Bittrex Hosting First Initial Exchange Offering (IEO), Is It Similar to Binance Launchpad?
Furthermore, Exchange Offerings can increase the degree of decentralization for an exchange. It is established as the order books, and the Exchange Token decentrally regulates exchange controls. Moreover, the Exchange acts as physical administrators of the token and the exchange. Hence they can also take immediate action during unforeseen circumstances. The new age exchange offerings from Bittrex and Okex will inevitably compete with Decentralized Exchanges in the future.
The post Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future appeared first on Coingape.
Source: CoinGape

Binance to Give Away $100,000 in BNB to Test its Decentralized Crypto Exchange

Binance, the world’s largest crypto trading company by volume and geographical presence, is giving a rare offer to its users: get paid for testing its newly released decentralized exchange.
The Malta-based startup announced Friday that it is going to distribute $100,000 worth of rewards in its “testnet trading competition.” The round will allow participants to create a wallet and exchange tokens on the Binance decentralized exchange (DEX) testnet.

To test the hell out of @Binance_DEX, we are giving away roughly $100,000 USD equivalent, in REAL $BNB, as reward for our testnet trading competition.
You have nothing to lose!
Come and join the fun, and help us launch the mainnet faster! https://t.co/2NK8LVVAGY
— CZ Binance (@cz_binance) March 1, 2019

Binance Chain Launch
From what it indicates, traders with accurate strategies would take home a decent number of Binance’s BNB tokens. At the same time, having more traders on the DEX testnet will allow Binance to monitor the platform for potential anomalies, as it prepares the DEX for a full-fledged launch this year.
“We try hard to disrupt ourselves, improve ourselves, and push the industry forward,” Changpeng ‘CZ’ Zhao, the CEO of Binance, told NewsBTC in an exclusive interview, adding that Binance DEX is their one of many attempts in introducing blockchain technology to the world.
CZ highlighted that the launch of Binance DEX would accelerate the launch of Binance Chain, a new public blockchain that would match trading orders taking place on the DEX.  Without need a middleman, the chain would record all DEX transactions, forming a complete, auditable ledger of activity.
“We will leverage any and all of our resources to push the Binance DEX forward. In this instance, Binance.com is sponsoring a trading competition and bounty programs to help the development of Binance DEX. We hope this competition will help us iron out any remaining issues, and speed up the launch of the Binance Chain mainnet. Please join the competition, there is no cost. You trade with testnet tokens, to win real BNB!”
In his earlier comments, CZ said that Binance Chain would be way faster than other public blockchains.
“Binance Chain has near-instant transaction finality, with one-second block times,” CZ claimed.
As of now, Bitcoin’s layer-one blockchain takes an average of 10 minutes to confirm a transaction. In the case of Ethereum, a trade takes about 20 seconds for network confirmations.
BNB Rises 5%
The announcement of $10,000 giveaway competition led BNB to trend in the market’s positive territory today. While a majority of top cryptocurrencies underperformed, the BNB/USD exchange rate surged 5 percent, according to a 24-hour adjusted performance data by CoinMarketCap.com.
Source: CoinMarketCap.com
The pair is currently trading at a bid rate of 10.97, while its market capitalization is hovering around $1.57 billion. Meanwhile, the BNB’s bullish performance prompted Binance to beat Bitcoin SV and Cardano to claim the 10th largest coin position.
The successful launch of Binance DEX and Binance Chain could further improve the bullish sentiment for BNB. That explains why more traders are flocking towards the exchange’s native token as Bitcoin and Ethereum trend sideways.
The post Binance to Give Away $100,000 in BNB to Test its Decentralized Crypto Exchange appeared first on NewsBTC.
Source: New feedNewsBTC.com

Diar Research Puts Question On Binance’s, OKex and Bithumb’s move towards DEX

While decentralized exchanges (DEX) were considered to the future of cryptocurrency exchanges, they somehow seem to have lost their charm. According to the recent report from Diar, decentralized exchanges have now hit an all-time low in terms of US dollar traded value, as well as Ether transaction on-chain. 
Are Decentralized Exchanges Just A Fad or Do They Have A Future?
According to the data presented by  Diar Research in its latest report, it looks like DEX’s have hit a roadblock. The data put forward shows that as on June 2017, when DEX first began appearing online, a total of $8.9Bn was been traded on-chain. But that figure dipped last year to just pipping over $7.1Bn. While the dipping from 2017- 2018 was still minuscule the first month of January has only been able to volumes of $49Mn for the month of January – to-date, an all-time new low for DEX’s
Source: Diar Report
To give a comparative perspective, these reported volumes for January 2019, as less than a tenth of what the largest centralized exchange Binance trades, alone, on a daily basis.  At this run rate, DEX’s will be able to garner around USD 600 million of on-chain volumes which would be a significant dip from last year.
It’s not just volumes in dollar terms, the other metrics such as  Ether transaction on-chain and unique addresses have also hit a new low. To quote from the report
“In terms of Ether, this month is a mere third of what was traded on Ethereum DEXs in January 2018. At the peak, over 2.3Mn ETH was traded in May 2018 – now down to 400K.”

Have Binance, OKEx and Bithumb got their strategies wrong?
Considering the demand and the hype built around the future of DEX’s a lot of centralized exchanges had announced their plans to enter the space. To name a few, Binance had already shown a short demo of their platform. OKEx’s Open Ledger DEX is already launched, as has Bithumb’s DEX. Coinbase too, last year purchased Paradex with the same vision of a decentralized exchange holding keys to the future. But none seem to have been able to get customers of their respective DEX’s despite the fascinating model of low or no fees.
And now with further tightening of the situation, there is further speculation that DEX’s may just find it too difficult to pick up. While a lot of crypto prodigies on the street have spoken in favor of DEX’s maybe they need some more time to flourish.
Will DEX pick up or would they fade out? Do let us know your views on the same.
The post Diar Research Puts Question On Binance’s, OKex and Bithumb’s move towards DEX appeared first on Coingape.
Source: CoinGape

Stellar (XLM) Launches World’s First Zero-Fee Decentralized Exchange “StellarX” with Fiat Deposits

While XRP is slowly shifting its focus to offering its products to crypto exchanges, Stellar too doesn’t stand far behind. In fact, Stellar has gone a step ahead and has launched a complete new decentralized exchange on its own blockchain, called the StellarX.
Enter StellarX: World’s first zero-fee decentralized exchange with fiat deposits
StellarX is the first full-featured trading app for Stellar’s universal marketplace. It was created by a team with deep user-friendly building experience and showcases a wide selection of assets: crypto, fiat tethers, commodities, bonds, and more.

StellarX is launched–free trades, fiat onramp, all kinds of tokens! Still lots to do. But here’s a look at where we are and where we’re going. https://t.co/BnHGwxD8E0
— StellarX (@stellarxhq) September 28, 2018

According to the announcement, StellarX, which is a product of the new company formed by Chain and Lightyear, Interstellar, offers similar user control to its Ethereum blockchain counterparts, including IDEX and EtherDelta.
To add to its moat over other exchanges, StellarX comes free. The Stellar network charges a flat per-transaction fee as an anti-spam measure, but the fee is so low (0.00001 XLM) that they refund it out-of-pocket for every trade made on StellarX. Network fee refunds are bundled into a single payment and issued each week. StellarX pays all network fees due to its unique consensus mechanism that does not require “work” or “stake.”’
The exchange is completely transparent as everything meaningful that happens on StellarX is on-chain, and so the world can see it. The announcement provides an insight into the transparency parameters as it stated:
“Everything meaningful that happens on StellarX is on-chain, and so yeah the world can see it. But here I mean “transparent” in a larger sense, both for users and, crucially, for token issuers. Because both must be informed for a market to flourish.

Transparency for traders: Our tokens behave in an expected manner. There are no smart contracts to unravel ownership or to catastrophically fail. Tokenization is handled at the protocol layer from simple templates. Important features are set as flags, not in custom code.
Transparency for issuers: if you so choose, you can see who your customers are and confirm their identity before they interact with your token.”

Christian R, co-creator of StellarX, also stated in its official Medium post:
“Stellar’s universal marketplace is greenfield for experienced, adventurous traders — the order books are raw and underexplored. Since StellarX is the first complete client for Stellar, we support every last token issued to the network, all 2500+ of them, including dankness like eQuid (GBP tether or digital cephalopod, who can say?) and something calling itself “charna token”. Roughly 50 new tokens come online each week — crypto, commodities, fiat tethers, securities, and so on,”
Also, read: Investors Watch Out: Stellar [XLM] too can Replicate XRP’s Last Week’s Rally
StellarX could multiple Stellar Lumens reach and its token price
Known for being pitted directly against XRP in the battle for the cross-border payment market, Stellar Lumens find the same foe in a battle of powering exchanges. Being a third-party client built on top of Stellar’s open marketplace, StellarX will definitely multiply the reach of Stellar lumens in hands of a vast population which currently doesn’t own any. If StellarX can develop its promised features while remaining effectively free to use, it could bring the Stellar exchange universe into much broader use.
StellarX is a strong positive for XLM adaption. The coin is currently placed 6th on the cryptocurrency list by market cap and trades at a price of $0.258583. If all goes well and according to plans of StellarX, we may soon see Stellar touching USD 1.
Will StellarX power Stellar Lumens (XLM) to rise high on the price charts? Do let us know your views on the same.
The post Stellar (XLM) Launches World’s First Zero-Fee Decentralized Exchange “StellarX” with Fiat Deposits appeared first on Coingape.
Source: CoinGape

Waves Platform Negotiating with Malta Government Amidst Growing Relocation Trend

The Waves Project’s CEO, Sasha Ivanov, is engaged in negotiations with the Maltese government in an effort to gain all the proper accreditation in order to run their operations on the island. The news comes amidst a growing trend of cryptocurrency and blockchain companies moving to Malta in order to be in a country with a friendly regulatory environment.
‘Blockchain Island’ Growing in Popularity
In a Medium post from Wave’s official blog, the blockchain company explained that they are in the process of moving their platform to the Mediterranean island nation and are currently discussing what benefits the company’s blockchain solutions can bring to the island’s infrastructure.
The Medium post notes that:
“Waves attended a meeting with government representatives and other interested parties on the island to discuss technological cooperation in the fields of healthcare, land registry, voting and other areas, as well as proposals to use Waves as a platform for tokenised financial instruments.”
The Waves Project was founded in 2016, and currently offers a crypto wallet, a decentralized exchange platform (DEX) and a tool for releasing tokens. They also offer a crypto token – WAVES – that can be used to trade with fiat currencies and to purchase various cryptocurrencies offered on their platform.
The Waves founder and CEO spoke about the move to Malta:
“We are interested in this accreditation and are ready to start working with Malta’s legal experts to bring our ready-to-use blockchain solutions here: Waves for the financial sector and Vostok for the government and corporate sectors.”
The Growing Trend of Crypto Companies Moving to Malta
The Waves Project is currently based in Moscow, and the move to Malta is due to the crypto and blockchain friendly environment. Recently, multiple other cryptocurrency companies have moved their operations to Malta, including Binance and BitPay.
Many countries, including Japan and South Korea, have increased their regulatory requirements for cryptocurrency exchanges, which has led many of these companies to find countries that offer more benefits to crypto companies in order to increase their economic output.
Malta’s Prime Minister, Joseph Muscat, discussed Malta becoming a blockchain hub, saying that:
“Over the last months, the Maltese government has actively solved how to position Malta as a major hub in terms of the digital economy, which will play a central role in the economic sustainability of the years to come. The Maltese government has legislated three acts that will provide legal certainty to this space, involving DLT and digital financial products and services such as virtual currencies and ICOs.”
The move to encourage blockchain companies to base their operations out of Malta, which is an incredibly small country, is strategic, as these companies will add jobs and economic stimulus to the country, while also increasing the government’s tax revenue.
The Junior Minister for Malta’s Financial Services, Silvio Schembri, spoke about Waves’ move to the island, saying:
“Malta is going through exciting times with world-renowned names associating themselves with us,” adding that he is “looking forward for even further cooperation with the Waves Platform in the coming weeks.”
Featured image from Shutterstock
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Source: New feedNewsBTC.com