DEVX - A Hybrid Exchange Leveraging Smartcoins on The Bitshares (BTS) Blockchain. [ WHITEPAPER RELEASED 📜 ]

in cryptocurrency •  3 months ago

Deviant Coin (DEV) is focused on providing users with a wholesome and secure crypto experience. Deviant team aims to do this by developing their own DEX (Decentralized Exchange) and a specialized Hardware wallet which couples as 3FA - The first in the Crypto space. This is made possible while also keeping user's interest by making this a utility based coin (POS/ Masternode).

We all know that any unexpected sudden policy changes at the centralized exchanges may sometime put the crypto communities at their mercy. There's nothing one can do about it. A delisting for a certain currencies can prove devastating and may shake the community trust in the very platform. No coin would want to be in that position. In order to be fully reliant on in-house liquidity, Deviant coin intends to offer Decentralized Exchange Service(DEVX) that will implement multi level security features unlike any other.

Decentralized Exchanges are the next big thing, as it eliminates the hinders in what the Crypto space is meant for. A free, seamless, trustless transition in the global trading was long due. And we felt that need when China swung the regulatory sword on a few giant exchanges hailing from Chinese region. It was only then when people realized that BitShares wasn't just another platform, but more than that...

Since then, many BitShares based projects have taken off. But none have actually fulfilled their promises of that seamless, user-friendly experience. DEVX claims to change that;

DEVX --- Deviant Decentralized Exchange


DEVX will be a hybrid exchange leveraging Smartcoins on the Bitshares (BTS) blockchain, in order to get to market as soon as possible. It will be launched as a new crypto-assets trading platform extracting the best components from both decentralized and centralized exchanges.

DEVX will be built as a wrapper around the Bitshares (BTS) blockchain, and will have the capacity to accomplish the sub-second latency offered by centralized exchanges. All finished trades will be buffered and later pushed to the blockchain in cluster batches to ensure transparency and integrity with each trade.

All the user funds sent to DEVX will be collateralized using BTS (the native token to BitShares blockchain). In the event of fraud or theft of funds, the user can simply claim the BTS collateral received for deposit.

Unlike conventional centralized exchanges which maintain centralized control over user funds, DEVX will lock only the funds used for trading in a special multi-signature wallet on the BitShares blockchain - control over this wallet will be shared amongst DEVX and the trader to prevent withdrawal of funds from active trades. DEVX itself will not be able to move assets from this wallet without user's approval.

In addition, DEVX will have the ability to perform additional optimization, such as picking the best time and best order to transact trades to the blockchain, and caching. To each user, the experience will resemble trading cryptocurrencies on a centralized exchange, while furnishing the trader with a more transparent process, and with a greater control over movement of funds.

The DEVX Transient Protocol


Generally, Blockchains are slower than traditional databases, which brings in comparatively slow confirmation times and higher fees for blockchain users. While BTS is among the fastest blockchains, and is following an amazing trajectory in terms of continuous upgrades and enhancements, it is still too slow and expensive to meet the demands and expectations of active traders and for the likes of centralized exchanges.

To counter this problem, recent exchange projects have adopted hybrid, off-chain solutions rather than remain 100% on-chain. Such hybrid approaches are meant to enable the resulting solution to process more intensive market related and trading related tasks using modern, time tested approaches off-chain, but also conduct final settlement on-chain. This helps diminish exchange costs yet providing a trustless setup for many of the most important components.

DEVX handles the order creation and matching outside the BitShares blockchain since the alternative would make the trading too expensive and slow. The DEVX Transient Protocol ("DEVTP") empowers the platform to remain deft while quick upgrades are made to guarantee versatility of the network.

Revenue Distribution


DEVX coin will be utilized for the fee's on the DEVX platform. All the fee's charged for exchange will be in DEVX. The proposed fee's are about 0.25% of the amount of order - half of the fee's i.e 50% will go to the community vault for maintenance purposes and 50% will go to the HODLERS of DEVX.

Additionally, if you are holding 1000 DEVX, you will be able to trade for free along with other value-added benefits.


In conclusion, so far all the features offered by DEVX is never seen before (to the best of my knowledge) or implemented in a way that DEVX plans to. None of the exchanges came with a better UI despite tall claims - OpenLedger does a pretty good job in that sphere but it has failed in listing variety of coins. I think If DEVX goes as per plans and deliver on their promises - it will make a huge difference. BitShares true potential is yet to come to fruition and I have no doubts whatsoever that the DEVX team is fully equipped to pull it off.

Webpage: http://deviantcoin.io

:۞:••:۞: Thank you for Reading :۞:••:۞:


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This is a project I am keep s close eye on. Has lots of things going for it and it could be a post bear market gem

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Same here. Came to know about a few months ago and ever since HODLING. Tx

High performance blockchain technology is needed for cryptocurrency and smart contract platforms to provide viable alternatives to existing financial platforms. BitShares are designed from the ground up to process more transactions every second than VISA and Mastercard combined. With Delegated Proof of Stake, the devx network can confirm transactions on an average of only 1 second, only limited by the speed of light. Amazing post @ghayas

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Speed of light xD

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Such a quick transaction?

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thats why hybrid comes in here , can push more transactions per sec

Deviant Coin has as a goal of ensuring that its users have a safe cryptocurrency practice. In order to achieve this, they work on developing their DEX (Decentralized Exchange) and a Hardware wallet. What will make DEX appealing? It is its multi-level security nature, that will differentiate it in the cryptocurrency market. Hopefully, they will make their goal a reality, a free, user-friendly crypto space. Additionally, another platform is waiting to take the crypto world by surprise, which is DEVX (Deviant Decentralized Exchange). It is a hybrid exchange which soon will be launched as a crypto trading market. Moreover, it will need users’ approval to move assets from the hardware wallet which makes it more trustworthy. This is just one of its many features, which already look promising such as a transient protocol, revenue distribution etc. However, only the future will show if they will fulfill their promises. As we have seen in the past platforms like OpenLedger which has failed in recording different coins etc. Nevertheless, hopes are high for DEVX.

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I am all for DEVX. Deviant coin has already set the platform for them.

excellent post allows to know much more, because it has a way of expressing itself according to the complex of the subject my support and my respects with my vote.

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Thank you for paying a visit.

Look like new platform crypto trading I must it thanks for information bro you really harking on it

DEVX sounds interesting & promising.
Will definitely gonna keep my eye on it .
Upvoted And....

481E4A86-2CA9-4775-BAF5-2B843879A214.gif

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:) Thank you. You too enjoy!

This is great news. A hybrid exchange...just what the doctor ordered. It seems that everything is in a rush to decentralize (for good reason) yet the tech just isnt there yet. This approach makes a ton of sense.

Another project using the "wrapper"...that is going to be a big thing moving forward it seems....this along with multi-chain applications.

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Exactly. If you have used the DEX you would know what a mess it is to fight with all those nodes to get the transactions done. I think most of those issues will be resolved as the final settlement happens on the blockchain level.

While I am all for decentralization, but let's not go too far with it. BitShares have literally become a bot-hood or a breeding ground for trade bots that front-run the common trader. Most of those issues will be non-existent with DEXV - I hope. Tx

@ghayas
DEX running on masternode architecture/governance makes a lot of sense and the branding/team/community are great. The rewards for the masternode actually go up considerably from here as the PoW phase ends and PoS is increased. I would like to see more product development but think the project is just getting started. Ultimately, the project is so young you're taking a risk here but the upside is massive.

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Obviously it all comes to ground work in the end. But as an idea, so far so good.

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Ofcourse its a great idea because at last Behind this mask there is more than just flesh. Beneath this mask there is an idea... and ideas are bulletproof.

what's the website, WP and token name?

quite cool information and this is best for the trader's

DEVX new coin , need to do some more search on this coin , however leverage is good option, let me take this opportunity to learn more about DEVX and thank you so muc

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Not really new, but yeah.

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3 months?

this very good information is really the information we are waiting for thank you for sharing crypto digital money information. @ghayas

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Thank you.

More and more an exchange cryptocurrency popping up until now, surely this is will made cryptocurrency user confuse to choose where he uses an exchange for a trading place because some of them have a high security like this one.

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Those with security and volume will always win.

Looks very cool exchange.

Very good understanding and knowledge about DEVX, through your posts, we can all know the steps and advantages of DEVX. but personally I like the part that tells about future wallets like
Research and Development related to the hardware wallet built originally on the DEV network that will now sit on top of the DEVX platform and will convert DEVX/BTS accounts to 3-Factor authenticated accounts (i.e. private keys from DEVX, User and the hardware wallet will be required to complete all transactions for users who have enabled 3-Factor authentication). Once in production, the hardware wallet will have a target price of 100 DEV coins per device, subject to market conditions at the time.Thanks to share good knowledge @ghayas

Good information. Glad to know about this exchange

Hay man I liked your post

Deviant Coin has scarcity, projects, good team.
This product will be a relevant addiction to the other graphene based exchanges.
And btw today......

screenshot-coinmarketcap.com-2018.08.07-16-34-33.png

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Yeah, DEV making the right echoes. So for all good vibes.

Your post is amazing, I love it, have a nice day.

Max Speed of light :D

Nice post sir...its very informative...

Watching out for deviant
Another crypto that will trend

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This is so dope. Love the imagery. Profit sharing always works.

Wow.... Great piece of information.... Would love to hear more on this

great post thanks for sharing

Goood luck

Finally I see someone developing stuff rather than just copying the same. The layout definitely looks like centralized exchanges which is cool. All the BitShares based dex are no different to each other.. Just pure carbon copies. This looks good so far.

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You get the gist.

Exciting!

Hmmmm impressive work ..!!@ghayas
@sems41

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Thank you!

Very interesting concept, we are glad to see more and more of this really mind-blowing projects raise around BitShares. The NowCoin community will keep their fingers crossed for you guys!

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I have heard about NowCoin here and there. Will definitely check it out. TX

This is something that people need and bitshares needs! Looking forward to this.

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Want to see more of this post. It's completely new. And made with a lot of intelligence. It includes many intelligence Which is not a common man. There is something in it that is really unimaginable. I learned a lot about this post.😇

got new ideas at the intelligence of the intellect. There is nothing that man can do. I understand what I saw in this post. Your post really impressed me. I'm happy to be with you If you want. I believe you can give me a lot. New intelligence, something new, new ideas I would like to create such posts. I want you to vote. Nothing else.

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😊

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will the exchange be registered in some jurisdiction?

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It's decentralized and distributed - meaning that it doesn't require to be registered or be affected by any law whatsoever...

will the exchange be registered in some jurisdiction?

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No. It doesn't require any registration.

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Malta is currently offering registration for safeguarding of investors. in fact other exchanges are moving to Malta

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Yeah, Malta is hot favorite right now.

I am extremely amped up for the possibility of utilizing cryptographic money, not similarly as a cash identical, but rather utilizing it as an approach to gain something because of doing some sort of work.

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That's 'likely' target of all the crypto projects so far.

#ghayas We are seeing more oversaw cash and, to a degree, institutional cash entering the space. Episodically, I am aware of numerous individuals who are working at mutual funds or other venture supervisors who are exchanging digital currency by and by, the inquiry is, when do individuals begin doing it with their organizations and assets?

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Deviant Coin rocks anyways

Deviant is such a good project, and another great article from ghayas

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Thank you :)

very good posts. keep on being big brother

This is a nice project, great post. thanks

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