As I saw above, this will be for ERC20 tokens. But in this case there is Etherdelta / Forkdelta.
Now there are many new projects on the platforms TRON, Stellar, Binance. Many of these tokens in the future will turn out to be shit, its even more likely than in 2017-2018. At the same time, Ethereum is losing its share for new tokens. Maybe you should consider this fact.
Yes we realize that and we are now working on Atomic Swap Widget. |
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You will realize how difficult it is to promote a new exchange when you have your own exchange.
You could list shitcoins to attract attention to your exchange but you'd be disappointing users after that though and when that happen there is no assurance if your weidex will still be remembered to be a good exchange. Forkdelta will only be remembered when users are about to dump tokens only listed over there.
The thing is that the two exchanges will be completely different. weiDex is the main exchange on which we are working hard - we review each coin before being listed so to avoid scams and we also try to provide liquidity. Whereas on Shitcoin everyone can create, list and trade - no submission forms, no review period, no permissions needed. You can create your own ERC20 token and directly list it to the exchange. Anyone can do that - it is completely decentralized. You can even do it for the fun- just shit your coin there. |
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Hi guys,
we are about to release a decentralized Shitcoin DEX soon. It will be a completely decentralized exchange where you can trade shit coins, create a new one and list it to the platform. It comes with user-friendly interface. What do you think? Would you enjoy such a crypto shitstorm?
Your news was not new here mate, it is already happened a years now. Just like in Yobit, Etherdelta, Mercatox, almost majority of the coins listed to these platform are shitcoins to be called. Only few of the altcoins are not shit just like etherum, litecoin, Dash, Xmr, Xrp, xlm, and Bch. By the way where is the link anyway that you are talking about here dude. I will provide the link when the DEX is ready, it will be soon. |
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Hi guys,
we are about to release a decentralized Shitcoin DEX soon. It will be a completely decentralized exchange where you can trade shit coins, create a new one and list it to the platform. It comes with user-friendly interface. What do you think? Would you enjoy such a crypto shitstorm?
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Sometimes when the network get overcrowded and to avoid slow transaction and high fee, scalability is highly needed. This is very essential on blockchain platforms with smart contracts, such as ethereum. Most importantly, ethereum needs to be upgraded and be made scalable.
Yes but there are a lot of options to consider if you need scalability – state channels, plasma, zk-snarks… |
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Because every blockchain network should be able to operate even with huge amount of users. And I am not seeing this case, because major networks as ETH, BTC, LTC, BCH are sometimes overwhelmed because of the huge amount of users.
Yeah, I've got your point - we saw what happened with cryptokitties. |
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hey guys, why do you think scalability is so important for blockchian?
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I have chosen my current exchanges by reading articles about them and comments ,I am sure they are quite safe but still I prefer holding most of my crypto at cold-storage wallets.
I think there are no safe exchanges. I do not keep money there. Yes, it is not profitable at a distance. And what choice? Subjected to attack? I think that for traders this is the most urgent problem. Where and how to store. You can always store most of your assets in wallets like Ledger Nano or Trezor and then deposit to the smart contract only what you need for trading. And if you use a DEX, you will keep the full custody of your assets. You can check weiDex exchange. |
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DEX exchanges are even safer as long as you keep your private key safe. You don’t need to give the control of your assets to a third party; you do not store your assets on the exchange; you do not expose your personal data. DEXes cannot be hacked, and if they somehow do, which will be because of some mistake in the smart contract (which hasn’t been seen yet), you do not lose your money simply because they are not stored at the exchange. In the worst case scenario, you may lose only the small amount deposited in the smart contract but you keep most of your assets safe in a wallet. For this purpose, you can always use Ledger Nano, Trezor, MetaMask etc. but make sure to remember the 12 random words. If the exchange is indeed decentralized, you can enjoy safe trading, e.g. check https://app.weidex.market/ |
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Guys, do you think is worth doing them and is it a good time to do one? And what do you think about trading competitions at all?
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Decentralized exchanges, of course. It is all about security nowadays cuz there many frauds on the centralized exchanges. On the other hand, people are responsible for their own digital assets and there are no third-parties. Try using weiDex - https://app.weidex.market. We just made an update which includes a lot of new features and upgrades like smart contracts, Kyber Network integration for liquidity, UI updates, etc. There are also tutorials of how to use the decentralized exchange which can also help you to use almost every other DEX. weiDex advantages over centralized exchanges: - User has full control of their assets - Blockchain level security - No user information or details required - Fully transparent - No withdraw/deposit - No new user sign up restrictions - Referral system(Makers receive 50% of the Takers fees for providing liquidity) and also another 20% from an invited friend fee |
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Hello, we've made many updates and improvements to our DEX. We have updated our smart contracts(optimized gas costs, added incentive for Market Makers - they receive 50% of the Takers trade fee, removed fees for Market Makers, built-in referral bonuses, expiration time on placed orders and on-chain liquidity from Kyber Network) New Moon mode colors, footer utilities and also Help Button where you can see our tutorials of how to use the platform which will help you if you want to use any DEX. Do you think it will be good to make a trading competition? We are also looking for your feedback. https://app.weidex.market/ https://weidex.market/ |
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As the volume of BTC is going down the price has decreased too. Do you think it just makes a step back before the pump to 15k+ or it will follow the trend to 5-6k?
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DEXes are indeed the future as they are safe and secure to use. But liquidity is the main issue that these DEXes are facing. Even the hyped Binance DEX is facing liquidity issues. Doing promotional and marketing events will help to attract more volume I believe.
We agree with you. Now we have great liquidity providers like uniswap and kyber which should be the initial solution for the liquidity issues. |
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The part I is interesting, and I am waiting for the part II. However, to increase liquidity, I think that key thing should be considered is how to attract crypto enthusiasts to DEXes. By now, they tend to prefer centralized exchanges, rather than DEXes. They have some reasons to think that centralized exchanges can give them better experience, better security, and better supports. Furthermore, fees on DEXes usually high if traders don't own coins of DEXes. such as for dex run on Bitshares network, fees of withdrawals will be cheaper if traders own Bitshares and pay their fees via Bitshares. I meant, building up DEXes more attractive, cheaper fees will help them increase liquidity indirectly for the long run.
Here is the second part: https://medium.com/@titotitov/liquidity-strategies-for-decentralized-exchanges-part-ii-1947d3e61566I think that DEXes need more liquidity and faster trade execution, then we will have more traders... |
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Fee is another big problem aside liquidity. Has the Stakenet able to solve this?
Yes, there are issues with fees on DEXes, which require fees for both order cancels, and withdrawals. To have cheaper fees on DEXes, you should buy coins of exchanges, because with the same orders or withdrawals, fees will become much cheaper if you pay them via exchanges' coins, rather than pay fees via bitcoin, or other altcoins. Personally, I always own a small amount of DEXes coins in order to minimize fees. I think that we don't have to own too much exchanges' coins, just enough to pay fees, and when prices dumped, buy a little coins to store for later use. On our exchange platform https://weidex.market/ we don't have deposit/withdraws and also listing fees. In fact with the new update to our platform Makers will receive 50% of the Takers fee for providing liquidity |
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DEX will surely make a big change over the exchange services. As of now it is just the beginning, from my understanding when Binance DEX gets launched we'll see more listings and the same will make traders move towards DEX. When it is DEX we can't question if some security breach takes place as the user himself is responsible for the funds.
I don't think Binance is launching a real decentralized exchange. |
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I now majorly use decentralized exchange but I hate Forkdelta, as executed orders are not immediately cleared like a centralized exchange and Idex, thereby giving false hope. I love decentralized, I control my key and no one tells me when to withdraw my money.
You can check out our DEX - weiDex Exchange  ) |
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We as a decentralized exchange are waiting too for new the update and people to realize that security is above the speed! But yeah, active traders who want to trade digital assets in seconds can't rely on DEXes because we can't give them this speed for now. But with the new update on Ethereum, I think the things will be on whole another level. Another fact is the DEX community is much lower than before and also crypto market cap is much lower than in 2017 and 2018 and there are not many traders as before.
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