This article was first published on PIVX
- PIVX project lead to launch private decentralised cryptocurrency exchange in November, with no need for AML or KYC forms or ID-verification
- Users able to trade Bitcoin, Litecoin, and other top currencies using PIVX’s custom Zerocoin anonymity protocol
Launching in November, the zDEX application will give cryptocurrency investors and traders a means to transact cryptocurrencies privately and anonymously without a centralised middle-man. As the world’s first Zerocoin-based, private, decentralised exchange (DEX), zDEX will run on the masternode tier of the PIVX network.
zDEX and PIVX project lead s3v3nh4cks had this to say about zDEX
“True DEX’s are important as they should require no AML/KYC and the functionality is controlled by the code and not by personal preference or government restrictions. I wanted to create zDEX because a decentralised exchange dedicated to privacy did not exist yet.”
Asked why PIVX was chosen for the operational infrastructure, s3v3nh4cks replied: “I chose PIVX because of my involvement and the Tech we designed in PIVX”. PIVX is known for its innovations, such as being the first Proof-of-Stake cryptocurrency to utilize Zerocoin for private staking, which it calls zPoS.
Upon launch, zDEX will support BTC, LTC, BCH, DASH, ZEC, and PART. But that’s just the beginning. “Our plans for zDEX include improving scaling, adding more tokens on a regular basis and to improve the user experience,” said s3v3nh4cks. Trade fees will be set at 0.25% split between the buying and selling parties, with fees going towards the zDEX team and PIVX’s zDEX-supporting masternodes for continued operation. All currencies will initially be paired with PIVX to take advantage of its custom Zerocoin protocol, though future plans include the ability to trade directly between supported coins. In such cases, the Zerocoin phase will happen autonomously behind the scenes.
turtleflax, a long-time PIVX team-member and reddit community ...
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