• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Digitex Futures Integrates Chainlink’s On-chain Price Oracles for Added Transparency and Reliability

Guest Author by Guest Author
9 months ago
in
Reading Time: 2min read
digitex
Advertisement

Digitex Futures, the DGTX token powered, zero-fee cryptocurrency futures trading platform has announced a partnership with Chainlink to integrate the latter’s decentralized Price Reference Contracts on its exchange. Chainlink is known for offering reliable real-world input data for various smart contract solutions, and in this case, the company’s decentralized oracle will be helping Digitex Futures maintain the accuracy and integrity of price information on the trading platform.

Digitex has already created an accurate internal price feed based on information from trusted spot market sources as part of an index. However, it wants to further insulate the system from vulnerabilities and possible price manipulation, for which it has chosen Chainlink. The partnership serves as a milestone in the crypto industry as it the first time a centralized crypto futures exchange has relied on decentralized oracles to enhance its platform security.

Chainlink’s decentralized oracle network is a popular on-chain price reference data in the industry. According to the platform, it uses security reviewed, sybil resistant and fully independent nodes to create a shared global resource for financial applications. The oracles offered by Chainlink are used by some of the leading enterprises like Google, Oracle, SWIFT etc., and by leading smart contract development teams like Synthetix, Conflux, OpenLaw etc.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

With the use of Chainlink Price Reference Contracts, Digitex will maintain a manipulation-resistant price anchor that acts as a reference to detect a deviation in asset prices on the platform. Any significant deviation of Digitex’s internal price feed from that of the global markets as available on the Price Reference Contracts can be easily detected, and appropriate measures taken to safeguard the interests of traders on Digitex Futures.

While explaining the advantages of the collaboration between Digitex and Chainlink, CEO and Founder of Digitex, Adam Todd said,

“Chainlink provides Digitex with highly reliable and transparent price feeds that protect our users against the negative outcomes of abnormal market conditions or internal complications. Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading.”

The Price Reference Contracts will be initially implemented in BTC/USD Perpetual Contracts, followed by support for additional price feeds and trading pairs as the platform launches new products. Digitex will be tightly integrating Chainlink’s oracles into the development roadmap of its soon to be launched Digitex Futures Exchange.

The Digitex mainnet is currently open; however, only around 200 users are trading while the company onboards users in small groups. Despite the fact it’s not yet fully open to the public, the exchange has already reached a notional value of $77 million volume in today’s 24-hour period. Onboarding will be ramped up to around 10,000 users in the next 4-5 weeks.

Digitex’s CEO has pointed out that onboarding in phases in this way means the exchange’s development team has an opportunity to fine-tune features and functionality before a full public launch. He states that “each new group of onboarded users has a better UX than the previous group.”

 

TweetShare111
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Guest Author

Guest Author

Related Posts

Ethereum

TA: Ethereum Dives Below $1,500, Why Bulls Are Losing Control

1 hour ago
Bitcoin

TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

3 hours ago
bitcoin cheat sheet

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

6 hours ago
bitcoin bloomberg march

Bloomberg Chief Analyst Says Bitcoin Could “March To $100,000” From Here

11 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Affect? Billionaire Fund Manager Sells 1.8M Tesla Shares for Clients

17 hours ago
Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

19 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bittrex Global Exchange to List Ndau for Long-term Holders

March 4, 2021

Polkadex, DEX Built for Web3, Raises $3m From CMS Holdings, Outlier Ventures, OKEx Capital and More

March 4, 2021

Casino Betting Coin launches $FUN Uniswap pool

March 4, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.