There are few industries that evolve as fast as cryptocurrencies, or technologies with as much potential as blockchain. But while we are enthusiastic about point-to-point payments and the instantaneous transfer of value, we continue to add levels of centralization. Satoshi's vision was to avoid the intermediary: the authority that approved the transaction and accepted his fees.

So, while we have been buying and selling unregulated cryptography online and feeling libertarian about it, we have still been hit by commission fees and put money in other people pockets.

But Digitex teaches us that there is another way. His team is working all day to bring commerce without commissions to the world of cryptography.

So, how do you build a disruptive exchange without commissions when the technology is so new and your idea is little more than a sketch on paper?

You have to go for everything

90 percent of all new businesses fail within the first three years. And when it comes to blockchain, we've already seen half of the 2017 ICO contenders fall before taking the second step. Of course, not all the reasons for sinking are the same, but the basic point here is: go big or go home.

When it comes to launching a revolutionary and category-breaking enterprise that uses exploratory technology in an uncertain regulatory landscape, it must make a total effort. It helps to have money, of course. But as many of the successful crowdfunding projects have shown, money is not the only factor; in fact, it may even be the least important.

If you do not feel passion for what you do, or think you can overcome the problems that are presented, you will not realize your vision. If you shake every time the price of Bitcoin falls, the SEC or the EU issue a new set of statements, or whenever your idea receives criticism from critics, it will be impossible to keep the distance.

When Adam Todd Founder & CEO of Digitex Futures was being "hit by trade commission’s" in the pits, turning profitable days into losses, trade without commissions seemed like a distant dream. But when he discovered Bitcoin in 2013 (what he calls "the missing piece on the Internet") and then Ethereum, smart contracts and ERC-20 tokens, he knew he had found the vehicle to make things happen.

He formed a team of the highest quality, he dedicated himself to learn everything he could about blockchain online and raised $ 5 million in the Digitex ICO in just 17 minutes!

Understand the problem you are solving

With more than 1,700 cryptocurrencies currently registered in Coinmarketcap, there is no shortage of cryptocurrency exchanges to buy and sell them all. We already know that not all exchanges offer the same characteristics or store the same currencies. But there is certainly more than enough operating within the same competitive space. Launching another exchange of cryptocurrencies was not going to break the mold.

Todd understood that he had to do better. Having spent so many years speculating on market prices and lately on cryptocurrencies, the same point of pain raised its head again and again. Commission fees that receive large amounts of profits from operators who make multiple round rounds make it almost impossible to make a profit; especially in a bear market.

High-frequency, low-volume trading and futures trading are essential when the market is down, and an exchange without commission is a dream come true for operators that will ultimately allow them to make a living.

Todd had his USP clear from the start. The technology at your disposal to join it and the validation of your theory made from the overwhelming demand of ICO.

Your blockchain company may not be a trading platform without commissions (fortunately it is not!), But whatever you decide to build, make sure you know that you are solving a real problem, not just get on the blockchain car.

Digitex is a futures exchange without commission and is held indefinitely using its own native currency instead of charging transaction fees when using its own native currency, the DGTX card, can create a small number of new tokens each year to cover the costs, in this way the costs are covered by a small rate of inflation distributed among all the owners of tokens instead of only by active traders, which encourages active trading. The digitex model of free commission trading is therefore sustainable because costs are covered; it is a new and revolutionary way of executing a futures exchange that has never been done before.

With the operators of Digitex they will be able to make large volume trading strategies and still make money there is literally no advantage against you, there is no reason why you should lose, of course, there is no reason why you should win, but if is good and disciplined can make money in an exchange that does not always take away money constantly, regardless of whether your exchange wins or not.

The way in which account balances are maintained is also very different from traditional exchanges in digitex; You will not have to rely on the exchange to maintain your account balance. We will use the state channels to give you profits instantly and take your losses, but never send your money to the exchange, instead your commercial bank is locked in a state channel that is very similar to the network of lightening, your profits and losses they are settled out of the chain until you really want to stop and then you can unlock your most recent balance in no time you should trust in digitex

It is impossible for Digitex or for hackers to take your commercial bank. With a state channel "encierras" a quantity of money that you will use, as you place your winnings, the losses will be added / subtracted from that amount, but out of the chain. at any time you can stop negotiating and recover your money and only the most recent transaction will be sent to the block chain and you will have the correct balance. This saves on gas costs but, more importantly, allows us to make futures operations in real time without having to wait for everything to reach the blockchain, with the delays and additional costs that would entail. we probably call them "commercial channels" is like the lightening network in bitcoin.

An example of the BTC / USD trade in Digitex Futures Exchange

Bob is a short-term trend, following the Bitcoin operator. He sees that the BTC / USD price starts to rise and jumps when he buys 500 BTC / USD futures contracts with a single mouse click that is being offered for sale at $ 10,700.

The price rises quickly and then begins to fall, so Bob comes immediately to the offer and sells 500 contracts at $ 10,720 with a single click of the mouse.

The size of the TTC of the BTC / USD futures contract is $ 5, so Bob obtained a profit of 4 ticks in a contract position of 500, which is a profit of 2,000 ticks. 1 tick is worth 1 DGTX so it has obtained a profit of 2,000 DGTX.

The current market price of 1 DGTX token is USD $ 0.10, so Bob's profit is 2,000 DGTX × $ 0.10 = $ 200.

Bob's initial margin requirement to open his operation was 500 × 20 DGTX = 10,000 DGTX ($ 1,000). He needed so much in his account to be able to enter the trade. The balance of your account is in the hands of an independent intelligent contract, not an exchange.

There are no transaction fees at all merchants, so Bob's profit of $ 200 after the commission is $ 200.

Digitex covers the cost of running the exchange by creating a small number of new tokens each year instead of charging transaction fees in the exchanges. Committed free futures markets on a stable, fast and secure trading platform will attract a large number of operators who must buy DGTX tokens to participate, creating a higher demand for DGTX tokens that compensates for the small inflationary cost of creating new tokens.

The DGTX token ownership community will vote to approve any new token generation event. This means that the new tokens can only be generated with the approval of the majority of DGTX token owners, so the community can say no to the costs necessary to execute the exchange for another year and only if the community approves this, then the new sale of tokens will occur.

Digitex will introduce a linking system that allows other operators to take that price risk from other operators through a linking system, which is basically just another futures contract. You can set your DGTX / BTC price by occupying an additional position in the swap system's future contract or in your DGTX / ETH price.

In summary

• Zero trade commissions

By using its own native cryptocurrency, called the DGTX token, the exchange covers costs by generating new tokens instead of charging transaction fees on the exchange.

DGKX token is simply a utility token. It does not offer dividends and has no shareholding in anything; all it does is allowing the owner to negotiate futures without costs.

• Decentralized Accounts

All account balances are maintained through a decentralized and independent intelligent contract in the Ethereum block chain, not the exchange.

• Decentralized government

Operators in Digitex use decentralized governance by Blockchain to determine how many new DGTX tokens to issue and when.

We are living exciting times. With the launch of the free exchange of commissions of Digitex Futures in the fourth quarter of this year, it will be interesting to see how many traders continue to deliver a portion of their profits when they can get the full value of their trade. If you want to get early access, register on the waiting list to be one of the first to start trading futures without commission fees, withdrawals or deposits.

More Information & Resources:

Web – Whitepaper – Youtube – Telegram - Twitter - Facebook

This is my entry for the @originalworks writing contest

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My twitter link: https://twitter.com/hasbydiaz/status/1042078963739312130

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Sources consulted

• https://ambcrypto.com/digitex-breaking-the-crypto-exchange-paradigm/
• https://cryptoslate.com/coins/digitex/
• https://medium.com/coinmonks/futures-trading-with-digitex-d8d521a21278
• https://www.monedas.com/digitex/info/