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Decentralized Exchange Blockonix to Have Lowest Fees

Decentralized exchange Blockonix is eager to attract users by offering lowest fees to traders dealing in the exchange. At the same time, the company has promised to offer top quality and user-friendly platform if their native digital coin is used. Similarly, the company has made it clear if the native exchange token is not used, then it would attract higher fees. The move meant that it had set a big target for it to achieve in the upcoming period.

Cost Effective

There is a big difference between using the native token and other digital coins. For instance, if any trader opts to use the decentralized exchange’s token, then the fees would be only 0.03 percent. On the other hand, if any trader failed to use its token, then it would attract as much as one percent fees, reported. The objective is to create an atmosphere where it could offer a cost-effective platform to its users compared to any other popular platforms in the same sector.

Blockonix’s platform provides Ethereum-powered cryptocurrencies in its trading platform that is focused on ethereum due to its global reach. The company disclosed that it is encouraging a new wave of payment apart from futuristic apps, which would lend its helping hand to its clients. The fully decentralized exchange indicated that it would not store any of the clients’ virtual assets. The exchange stands out from the rest due to its team members not earning from the platform, unlike others.

The company indicated that the generated fees would be used to acquire BDT token besides burning them. It could be taken to another level by paying a 5 ETH stepping-in fee to list the digital coin in the decentralized exchange. Therefore, Blockonix team is getting compensated through the crypto-verse and not by hoisting the energy. The development has brought in co-founder of ethereum, Vitalik Buterin, to air his opinion on not only decentralization but on latest improvements of the blockchain.

During a media interaction, he was asked as to what was the force behind ethereum that is working right. He reacted to say that his hands were full with the sharding protocols and PoS. He pointed out that he has been spending more time recently on the proof-of-stake, as well as, sharding protocols. At this point in time, the focus of the ethereum research community is on this only since he attaches much importance to the scaling and proof-of-stake.

Algorithms Improvement

Buterin said that he could see significant progress happening on algorithms improvement besides enhancing several limitations in the last few months. Buterin added, “I’ve also been looking at the economic analysis of transaction fees and how transaction fee algorithms can be improved to basically cut fees down and make the protocol alignment centers better and more efficient. Those are the main things I’ve been working on myself.”

Referring to Casper Protocol, he pointed out that it is getting nearer to being finalized since there were several frameworks for state channels coming out. He indicated that a review on academic analysis is pending on Casper protocol.

Max is an international blockchain consultant. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. He is also a developer for the NetAidKit, an open-source USB-powered router that protects online privacy.