Many exchanges claim to be decentralized while hiding the details of centralized components. Block DX is the only exchange that decentralizes every component. Decentralized. Trustless. Secure. Private. Open. Uncensored. Unstoppable.
Traders broadcast their orders over a peer-to-peer network and each trader compiles the orderbook locally themselves. Unlike on-chain order books which enable frontrunning, with Block DX no one can get orders faster than anyone else by being closer to the server, since there is no server.
All order matching is performed locally. As an order is taken, Block DX automatically begins communicating with the counterparty over the peer-to-peer network to conduct the trade. No third parties control this, all action is self-sovereign.
Trading occurs directly from your own wallets and your funds remain in your control throughout the entire trade process. This means there's no third-party control over your funds, no need to transfer funds to another account, no waiting for deposit or withdrawal confirmations, and no withdrawal limits.
Block DX allows you to securely trade with no middlemen or intermediaries, keeping you in control of your funds throughout the entire trade process. All trading logic, operations, verifications, and checks are also performed locally.
No accounts, KYC, AML, or registration process are required since trading is purely peer-to-peer. As a result, no legal responsibility is created that would require registration to use Block DX. This protects your personal privacy and gives you true financial freedom.
No wrapped proxy tokens or coloured coins are used in place of native assets. Many "DEXes" give you a wrapped marker (e.g. wBTC) to represent your real funds (e.g. BTC). This removes your sovereignty over your funds and requires you to trust this entity, smart contract, or third-party chain.
Trades on Block DX are extremely fast. Many people believe that atomic swaps means that the trades are slow, but that depends on implementation. With Block DX the trade times are independent of the block times of the assets being traded.
Block DX is entirely open source, enabling the community to review, audit, and contribute to Block DX freely and transparently. As a result, you may subject the code to high levels of scrutiny to satisfy your need for security no matter how high your standards are.
Listings and access to the exchange are open and uncensored. There are no restrictions on what users or regions have access to the exchange since there are no accounts and trading is decentralized. Listings are also decentralized with no single party that controls what assets can be traded.
On Block DX there are lower trading fees and no withdrawal fee since trades are conducted directly from your wallets. While there are network fees of the assets being traded, this is a fee that exists when sending funds to and from other exchange addresses.
Block DX is always online since it doesn't require accounts or any central entity to function. The true peer-to-peer nature of the exchange makes it impossible to shut down, offers zero downtime, and built-in DoS protection.
Trade settlement is decentralized through the use of atomic swaps. Atomic swaps control the exchange of funds between you and your counterparty and are completely "trustless", meaning that you can safely trade with anyone without having to trust their intentions.
Some protocols return profits to a company or developer team, but this is a rent-seeking activity that enriches a central actor and does not fairly distribute fees. With Block DX, 100% of trade fees are distributed among nodes on the network. No trade fees are paid to a central entity.
There are no restrictions to only trading assets of a certain chain. You can trade between Bitcoin, Litecoin, Dash, Syscoin, Digibyte, and more than 100 other assets from different blockchains with complete trading pair freedom. Block DX aims to integrate all platforms and assets.
Block DX is powered by the Blocknet Protocol. All services using the Blocknet Protocol have a shared order book and contribute to the same liquidity pool, including Block DX. This creates a network effect for liquidity.
Block DX is a decentralized exchange dApp. The exchange is powered by Blocknet, a blockchain interoperability protocol project that enables communication, interaction, and exchange between different public and private blockchains. BLOCK is the token used to pay fees for the services on Blocknet's network, including decentralized exchange, decentralized off-chain oracle data, decentralized SPV network, and decentralized microservices.
Many exchanges claim to be decentralized while hiding the details of centralized components. Block DX is the only exchange that decentralizes every component. See Features for how Block DX is the most secure and decentralized exchange. A comparison table with other projects is also in the works.
At the moment Block DX does not have an app and is only available as a desktop application. However, a third party is developing the world's first decentralized lite multiwallet on the Blocknet Protocol, which would render a browser-based exchange and app possible.
Block DX is being developed and maintained by Blocknet, a blockchain interoperability protocol project that enables communication, interaction, and exchange between different public and private blockchains.
Yes, the goal is to integrate all platforms and assets. The first to be integrated will be ETH and there has already been a test trade performed, but there is no estimated time for completion.
Unfortunately Monero is not currently capable of atomic swaps so at the moment it can not be listed.
There are multiple ways you can support Block DX and more importantly Blocknet, the blockchain interoperability protocol powering the exchange. You can purchase BLOCK, which is the token used for fees for the services on Blocknet's network, including decentralized exchange, decentralized off-chain oracle data, decentralized SPV network, and decentralized microservices. You can also setup a Service Node, which can monetize these services and earn 100% of the fees generated.
Block DX is not currently compatible with Electrum, hardware wallets, lite wallets, or web wallets. The full node of the blockchains you want to trade must be downloaded and synced, along with the Blocknet wallet (used to power the exchange process). However, a third party is developing the world's first decentralized lite multiwallet on the Blocknet Protocol, which will allow Block DX to be used without downloading the blockchains of the assets being traded.
There is no cost to be listed on Block DX. However, since Block DX utilizes atomic swaps, the asset's blockchain must meet certain compatibility and testing requirements. See Listings for more information.
At the moment Block DX is only available as a desktop application. However, a third party is developing the world's first decentralized lite multiwallet on the Blocknet Protocol, which would render a browser-based exchange and app possible.
Even though native assets are exchanged and trades are settled on their respective blockchain, the trade times are independent of block times. Block DX is very fast with trades typically being completed in 5-15 seconds.
An application has already been submitted for Block DX to be listed as an exchange on CoinMarketCap and are awaiting listing.
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