bZx Network – A Solution for Margin Lending and Trading

Overview:

bZx Network focusses on to solve the problems of decentralized exchanges and provide users a peer to peer margin funding and trading protocol. The cryptocurrency world is facing problems due to the trading of decentralized assets on centralized exchanges. Margin trading or margin lending on centralized exchanges poses counterparty risks to both users and lenders. Decentralized exchanges which are now coming up also have certain limitations such as obtaining suitable oracle design. In the current DEXs the problem with oracle is that the smart contracts do not know the prices of assets. The bZx protocol aims to solve all these problems and provide a suitable solution. The BZRX token will be used for incentivization and for governing the bZx protocol

Components of bZx:

bZx.js Library: This is a JavaScript library which will interact with bZx smart contracts. This library enables the software developers to develop a bZx protocol. An interface can also be built by the exchanges for margin lending and trading on bZx.

bZx Portal: bZx portal is a decentralized application which will act as a frontend for the bZx protocol. It will access the bZx.js library and provide the users one platform where they can interact with this protocol and carry out the margin trading. This will make easy for the users who are not on exchanges to easily access the margin lending and trading service. bZx portal will allow lenders and traders to manage their loans and funds and they can also see here how the funds are used

bZx Smart Contracts: The bZx smart contracts will carry out the on-chain margin lending, monitoring and liquidation of ERC20 token trades. bZx.sol will be a smart contract which will control other sub-contracts.

The Oracle:

bZx is trying to solve the problems faced by oracle in DEXs by creating a marketplace where oracle providers will compete and thus the users will pay low fees for oracle services and get the quality service. It will allow any individual or organization to create their own oracle and get profit in terms of tokens if the oracle proves to be successful.

Team:

Tom Bean – Founder and CEO
Tom has spent over 15 years developing and leading teams. He was Lead Developer at HERE, a multi-billion dollar consortium of German car companies (BMW, Audi, Daimler) specializing in GPS technology, before co-founding bZx. Tom graduated from Georgia Tech with a degree in Computer Engineering before later receiving his MBA.

Kyle Kistner – CVO and Operations Lead
Kyle is the lead author and architect of the whitepaper. MSc in Computational and Molecular Biology. He has been following blockchain with an academic interest since 2011 and has been critical to the inception and execution of the project.

Adrian Li – Senior Developer
Adrian is a mechanical engineer, author, lawyer, and developer. He has worked as a technical consultant for multiple Ycombinator and Techstars companies including Trusu, branch8, Robin, and Syncspot.

Token Matrix:

Token – BZRX
Total Supply – 1,000,000,000
Price – $0.073 USD
Hard Cap – $36.5M USD

Verdict:

Pros:
• The team and advisors behind this project has experience in computer science, graphic design, corporate law, blockchain and many more.
• The mainnet app of this project is available on their website.
• The roadmap of this project consists of detailed information about the past and future events of the project.

Cons:
• The social media hype of this project is low. It has around 500 followers on Twitter and around 2200 members on Telegram.
• This project has two advisors as of now. The project should board in more advisors from blockchain background.
• The whitepaper is written in technical language which is not easily understandable.
• The information about the partnerships is not given in the website and whitepaper.

Website: https://b0x.network/
Whitepaper: https://b0x.network/pdfs/bZx_white_paper.pdf
Telegram: https://t.me/b0xNet
Twitter: https://twitter.com/b0xNet

Bitcointalk Username: rshetty3344
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1907004
ETH address: 0x137F3CC2750C9b9bF639Cd4Bf8CB63c56823aC3c