Decentralized exchange Crypton DEX
Crypton DEX cryptocurrency exchange is a decentralized trading platform where it is possible to conduct financial operations with cryptocurrency. At the heart of the work of Crypton DEX are the Ethereum smart contract.
All DEX participants have equal rights and can make any exchange of cryptocurrencies between themselves, saving money in a personal wallet, and not in a third-party wallet (the practice of centralized exchanges). Their very important advantage is the highest degree of data protection and confidentiality.
The functionality of Crypton DEX:
1. List of supported tokens: Ethereum ERC20 / ERC223.
2. List of supported cryptocurrencies:
- ETH.
- Any other cryptocurrency through the creation of an ERC20 token representing the stablecoin of this cryptocurrency (provided 1: 1).
3. Managing the listing process of tokens:
- free registration (free or automatic upon receipt of a fixed amount).
- registration through confirmation (the ability to charge an agreed listing fee).
4. Flexible installation mechanism and commission for trading operations:
- the possibility of registering an unlimited number of groups and setting an individual commission for each group.
- the ability to set a separate commission for makers and takers.
5. Supported work with cryptographs: ledger, metamask, keystore (json).
6. Supported technology to reduce costs when creating orders (lack of Network Fee):
- the order is not recorded in the blockchain, but its parameters + electronic signature on the backend server are saved.
7. Backend server:
- It is necessary to speed up the front of the system (site), it is possible to work without a server backend.
- Simple API to work with the front.
- Access restrictions by IP.
- Cross platform:
* Operating system support: Linux, MacOS, SunOS, AIX on Power Systems, Windows.
* Software: nodejs v 8.14.0, npm 6.4.1, MongoDB 4.X.
8. Front (website):
- A static site that can work through the web3 RPC API directly from the smart contracts of the exchange or through the backend server (much faster).
- Software: vue.js + web3 + bignumber.
- Construction of trading schedules through TradingView.
9. Technical support, updating, adding new currencies.
Advantages of a decentralized exchange:
1. Security — resources are not stored in any one wallet, but are under the control of the user.
2. Transparency — all operations are visible on the blockchain, there is no possibility of bid manipulation.
3. The owner of the exchange can list any ERC token, any cryptocurrency (see p.2).
Cons decentralized exchange:
1. The speed of the transaction — the maximum speed of the transaction is equal to the speed of closing the blocks by miners in the blockchain.
- Now we are actively working on sharding technology, which will significantly increase the speed of transactions.
Recent improvements / updates:
1. Added the ability to change and save parameters:
- the duration of the order;
- enable / disable confirmation for transactions (with display of extended information);
- whether to change the Network Fee (gasPrice * gasLimit) before the operation;
- set the “depth” of historical data from the current moment until the beginning of the exchange operation;
- set the initial display of graphs (wide / narrow graph, with / without indicators);
2. Added a report from user operations: buy / sell / commission.
3. In the list of all orders, user orders are now highlighted.
4. Added the ability to delete all orders of a user with one command.
6. Improved notification mechanism for the status of the operation.