The development team behind Komodo, a ZCash based cryptocurrency platform has announced the launch of a new decentralized exchange platform. The exchange platform called EasyDEX allows for a trustless exchange of value, which isn’t quite possible with other exchange platforms due to certain centralized aspects. EasyDEX, unlike other exchanges, doesn’t convert the cryptocurrencies into IOU and exchange it within the market before converting the IOU back to required cryptocurrency.
The decentralized system implemented in EasyDEX allows users to exchange digital currencies among themselves over an atomic cross-chain protocol. The protocol enables the users to exchange cryptocurrencies without entrusting any their party service to do it for them. The protocol used in the EasyDEX exchange platform offers other added advantages in the form of speed and liquidity.
EasyDEX is also known for its extra security and privacy features. The decentralized nature of the platform offers adequate protection from hacking attempts and insider thefts. In addition, the use of additional privacy layer ensures that the private information of the user is kept a secret by preventing any direct contact between the order matching process and user IPs.
The complete information about EasyDEX and the SuperNET platform is now available in a recently released whitepaper. It includes details about the various functionalities and future uses of the platform.
The SuperNET team has already developed few more tools including the Iguana GUI wallet that can be used by any cryptocurrency without a GUI solution; a delayed Proof of Work consensus mechanism that can be used by any blockchain to be as secure as that of Bitcoin with the help of Komodo Notary Nodes.
SuperNET and Komodo are definitely on the right path, creating a universal blockchain bridging solution for the cryptocurrency industry. It also offers the goodness of Bitcoin blockchain for much lesser transaction fees than the popular cryptocurrency by making use of Notary Nodes.
Ref: Press Release | Image: Komodo EasyDEX