Bitcoin Forum

Q: What is Token Store?
A: It is an Ethereum token exchange built on smart contracts in a semi-decentralized way. Core logic of the exchange is implemented right on top of Ethereum, as a smart contract. That allows us to remove a significant portion of the trust problem by not holding any user assets directly. If the website goes down, you still have access to your ether/tokens via the smart contract that holds it and you can withdraw it using your wallet if it supports smart contract calls. That also means that your funds are protected by Ethereum cryptography and only you can withdraw it. The code of the smart contract is completely open and well-documented, you can find it here: https://github.com/tokenstore/contract. All the trading/settlement logic lives on chain in a smart contract. But due to the current limitations of the technology (about 10 transactions a second for the whole blockchain, expensive on-chain calculations, significant delays for block mining) your orders signed with you private keys are stored off-chain on a private server. The web application that serves the exchange is also stored on a private server. See more on that below.

Q: How secure is this approach?
A: While we don't store the orders in a smart contract, every order you create is signed with your private key. That allows the contract to validate order data passed to it before executing any trades. Only orders you signed can be traded against. We also don't have access to your private keys. That means that only you are in control of all the operations related to your funds that go through the smart contract. That also means that only you are in control of your private keys and if you loose them, your funds are lost! Always back up your private keys!

Q: What are the risks associated with this approach?
A: The weakest point in this architecture is UI - a web application that connects you to the smart contract. But that’s a weak point of any application. If somebody hacks into the servers and changes UI logic, it would be possible to render orders differently than they are stored and also to prompt you to sign the data that you were not intended to sign. We're going to investigate potential solutions to this problem in the future.

We'd like to add that this approach is still much more reliable than a typical centralized exchange that can go down with all your funds literally any moment. And it was validated previously by EtherDelta exchange launched in 2016, which we're the spiritual successor of.

Q: How are you better then EtherDelta?
A: We studied this product and the source code quite a bit and decided to rewrite almost everything (web app, order book logic) except for the core logic of a smart contract. We also use the same order signing methodology as it's proven by time and by our multiple attempts to find a loophole in it.

Here are some of the key differences:
1. Completely rewritten responsive UI
2. Completely rewritten reliable order book
3. Revised contract with versioning, migrations, account modifiers

Q: What about This Other Decentralized Exchange?
A: If you're curious how we're better than some other product or have any other questions to us, just shoot a note to tokendotstore@gmail.com

Q: Who are you?
A: We're a group of crypto-specialists focused on advancing the state of open decentralized software. As a first step towards that vision we decided to build a set of real products with clear value add for the existing eco-system. Working on self-sustaining evolving products allows us to contribute to the further development of the application layer built on top of the protocol and help to bring it to mass adoption. Token Store is our first step in this direction.

Q: How can I help?
A: If you want to help us in the development or promotion of the exchange or just have any feedback, shoot us a note at tokendotstore@gmail.com Also, you can send donations at this Ethereum  address: 0x9845dBeEEde9BBAD5f8b4eb00B497f01fe240967 - we commit to spend it all on future improvements, development and security audits.

We are moving in a partnership with them for our token. Let's see how it works out for us :)

Development abandoned? why is there no activity ? more decentralized exchangers are needed . Now, many exchanges are in an unstable state and that the competition was need high-quality exchanges

I had a dip into the website of the project! So many of the exchange rates! Does it work? If it is possible to maintain all the functionality in working condition, the platform will quickly find supporters and clients!

I think that everything will work out. All, that is proposed now, is the initial stage of the project! There will be more services! In the case of the first version, the main attention was paid to creating the most reliable and clean product!

What is the basis of the exchange? What are the rules?

The new decentralized exchange of Ethereum tokens is based on the principles, that were initially established by EtherDelta, and uses a similar smart-contract with some minor additions.

I don’t get it. What will be the result?! From a client’s point of view.

The result will be a very responsive and efficient exchange based on the Ethereum smart-contract.

There’s not so much information about the resource as one would like to see(( I tried to find the value of trading and descriptions of the currencies traded… But didnt find anything. Perhaps someone can help me?

Yes, there’s lack of info so far…The traded currencies are listed here: https://token.store/trade/ERC20 All of the mare described. As for the traded value, i’ve seen one mention on the third party resource only so i cant advise u to see this info…

What info does the platform provide for trading?

After the registration u can see your deals, the state of the wallet, estimation of activity by account, and of course, all the cross-rates.

Is there order analytics?

There’s an individual “my orders” field where u can structure the orders by the characteristics, including erc20 apart of all the others.

Hey everyone! I’m interested in cryptocurrency markets. I’ve seem a new review on this project https://www.youtube.com/watch?v=9aj0Px1zeHs. The author tells that the tools of the platform are quite good. What currencies is it possible to exchange?

What’s up! It’s possible to exchange many various currencies based on ERC-20. The most wide spread among them are RDN, MOD, LINK, SALT, KNC, OMG, RCC, AST. I think that the list will be enlarged in the future.

Have you already tries to use the platform?

Yep, i’ve already made several exchanges, it’s okay. It’s very convenient that all the prices are displayed together with the personal data concerning the state of the account and wallet. Navigation is also convenient.

Tell me please, is it possible to make profit on the base of this platform?

You can always earn on trading currencies))) Just dont forget amount the risks management. The opportunity to make profit means also the opportunity to lose!

There are not so much info about the way exchange works within the deals. So I couldnt figure out whether there is a middleman or not? I wouldnt be happy if there was. Unfortunately I cant find any info that would prove it wrong((

The platform is based on blockchain and has  peer-to-peer  structure so you dont have to go through the third party. Dont worry. It gives you a lot of other advantages as well.

What advantages? 

The platform is built the way that it doesnt have the info about coins, funds, personal keys and any other confidential details. Therefore, it’s harder for the hackers to break in and change the data or steal it. That’s what’s important nowadays!

Got it! What is the most popular services on the platform?

The project is working with Ethereum based exchanges and 15 other currencies. Looks like the most popular ones are CRED/ETH and BNTY/ETH.

Tell us about the security measures that the platform uses? I'm sure that such services are sooner or later exposed to attacks, because for many scammers this is a tasty part. There is not enough information, so I ask.

The project has protection against DDos attacks. This circumstance should please all investors. Especially those who have ever faced the inability to access systems because of their overload and failure!

I've heard something about it. OK! Are there methods of protecting and verifying users?

As part of user verification, two-factor authentication is provided, which increases the level of platform protection against hacking.

Are there analogs of such a defense in the world? I'm just not very good at this.

A similar approach uses security using the Apple ID, which ensures that only you can access your account, even if the password is known by anyone else. That is an effective solution to TokenSale.

Who will be a liquidity supplier in the project? Will the exchange be conducted at the expense of the platform and project funds or through the funds of other clients? In case of liquidity lack for an exchange, will the platform communicate with third-party exchanges?

The platform intends to use exclusively decentralized exchange, which does not rely on a third party to store clients’ funds. All transactions are conducted directly between clients, on the peer-to-peer services basis.

What are the advantages of such an exchange?

Thanks to this approach, transactions are made in a proven, safe, secure and fast way. It is enough to send your funds to the ETH contract, programmed for exchanges.

Looks pretty simple! If they rely on the exchange between clients, then can you tell me approximately, how many of them are on the platform?

This number is constantly changing and cannot be fixed at any given time. Usually, to estimate the exchanges and the level of activity on them, they use the transaction turnover indicator.

I dont really understand how deals are gonna be cut. What algorithms  are going to be used for currency exchange?

There is a commission for TokenStore exchanges. The client sets up an account and transfers money. There is a book of orders on the website and different selling options, quick orders, for example.

What about payment for gas?

There is a recommendation what setting you should use on the website. First couple of weeks there will be a commission for gas but the rest is free. It’s a great offer.

And what’s then?

After a grace period the commission is going to be 0,3%. The rest is going to stay free.

That’s the second time in the last week that I get to this site. I noticed, at the first gaze, how many cryptocurrencies are now available for exchange. I saw 92 of them. Why so many?

Is it bad? On the contrary, they need to attract more currencies and conduct exchanges with them. For the project itself, it is just additional opportunities for earnings.

I just have never seen such a large number. Will the line continue to expand?

Sure! The platform attracts customers for this very purpose. To get more information about this, you need to write to listing@token.store . The project wants to become the largest platform, so the more currencies there are, the better it is.

OK! I have heard that there are problems with the transactions behavior, when they have to wait for them for too long. What happens in this case?

This happens. It happens due to the fact that the Ethereum network gets clogged. As a result, the waiting time increases. If you want to keep calm, you can track transactions through Etherscan.

There are a lot of exchange rates on the website! Does it all work? Is the project connected to all other platforms? All in the blockchain?

The fact that now is the initial stage of the project! And even in recent days, a lot has been added - the project is growing. There are even more services ahead! In the case of the first version, the main attention was paid to creating the most reliable and transparent platform.

What is the basis for the exchange? Which rules?

The new decentralized exchange for Ethereum tokens is based on the principles first established by EtherDelta, and uses a similar smart contract with some minor additions. So the rules of the job are simply better.

What are the advantages for the client in the end?

This results in a very responsive and efficient exchange based on the Ethereum smart contract.

There is not as much information about the source as we would like. Although, I see that the developers are working on it, regularly posting new details. Will this strategy continue? Users want details and information.

Yes, there is not enough information yet. The list of traded currencies is constantly growing, FAQ has appeared. It is evident that the work is underway, but there truly is a lack of dialogue!) Perhaps soon the developers will finally start answering on topical questions.

OK, let's wait a little longer. What information does the platform provide on trading?

After registration, you can see your transactions, wallet status, activity evaluation on account. And, of course, all the cross-rates. Now, there are a lot of them!

Is there analytics on orders?

There is a separate slot “my orders” where you can structure orders by characteristics. In particular, erc20 separately. I haven’t seen any deeper analytics, but it is obvious that it should appear, if the platform sets itself high aims.

Strange story! As far as I understand, payments in fiat currencies can not be thrown off. That is, through bank transfers, credit cards and other convenient methods of payment is it impossible?

So far, apparently, it is. But it is known that the developers are working on this. But in fact it at present is not such a big problem - there is a mass of exchange services.

Heh! So after all TokenStore and there is an exchange service !!! Such conditions make him "unfriendly"!

Partly agree with you. But I repeat, it is clear that the developers are constantly changing something and finishing it. Over the past couple of weeks, I've seen a few steps towards more convenient functionality, so this should bring its results.

Ok! So we will wait for these steps. Still not happy about the absence of margin trading! Will it be added?

I do not presume to be responsible for the developers, but I will assume that it will be. This is a popular direction, albeit high-risk.

I went to the site for exchanging and did not quite understand what to do. Where can I find an instruction manual?

I’d like to understand what makes TokenStore better than other exchange services. I guess the developers understand that they’re working in the competitive field.

So guys, are you decentralized exchange and you like etherdelta have no special listing, or what is your listing conditions? Price all this necessary information))

Is there any volume on this exchange?

Etherdelta is dead and IDEX is returning Error 522 Connection timed out all the time!

] The Token Store is indeed a decentralized exchange. The Token Store now offers address trading! This means that anyone can list your token 'silently' for free by:

1) Going to token.store
2) Clicking the "address trading" button
3) Inputting the contract address of the token you want to trade

For more listing options and prices (e.g. if you'd like your token to be visible for everyone that comes onto the site in the tokens tab - there are 98 such tokens at the moment), please contact listing@token.store.

Thanks a lot, I have one more  question, as you have mentioned address trading, so still does your exchange support all standards of token or only ERC 20 ethereum tokens? (it is just like Etherdelta can exchange only erc 20 tokens)

There are some suggestions for developers about the platform, that will help to attract more clients... Where can I apply with these suggestions?

That’s the second time in the last week that I get to this site. I noticed, at the first gaze, how many cryptocurrencies are now available for exchange. I saw 92 of them. Why so many?

Token Store currently supports ERC-20 and some subsets of ERC-223. More coming soon! We're actively working on it.

Can I deposit fiat to my account? Or I have to buy tokens beforehand?

There is a 3% commission and that’s it? Any other charges? I’d like to understand the full amount.

Today i exchanged using Token.store.
Very simple and user friendly than other decentralized exchanges.
Loading fast.

Please any real feedbacks?
Thank you.

I lost money from my wallet, asked for help in a group of telegrams, they said that they would not help and exclude telegrams from the group

Thank you very much.
Pity to hear this...
We were invited to get listed....

Is this safe to use?

Yes, it is. I used that in order to buy a bit of spacekim tokens.

Has any older forum member used this exchange and is it safe to use it?
I don't want to wake up one day to realize my tokens are missing.  :-\
Design reminds me of etherdelta so much, but yet all decentralized exchanges looks the same to me.