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Testing Cryptocurrency Atomic Swaps With Barterdex

Testing Cryptocurrency Atomic Swaps With Barterdex

The method of atomic swap trading within the cryptocurrency space has become a hot subject, and a few software development teams have been working on this type of cross-chain technology. One group is Komodo, the creators of the decentralized exchange ‘Barterdex.’ The trading platform reveals a total of 90,663 successful atomic swaps have been executed using Barterdex, so news.Bitcoin.com decided to give the user interface and software a test.

Also Read: Cobinhood Delists Six Tokens Susceptible to Pump and Dump, Limits Tether Pairs

Test Driving the Komodo Platform Barterdex

A few weeks ago in Mexico news.Bitcoin.com had a chance to see a walkthrough of an atomic swap between bitcoin cash and two other cryptocurrencies. A Komodo developer showed us the ropes of how to trade and how the platform’s decentralized order book works. When returning from Mexico news.Bitcoin.com decided to see how easy it was to use without any guidance so our readers can get an in-depth look at this technology.

Testing Cryptocurrency Atomic Swaps With Barterdex

Barterdex stats on March 29, 2018.

The Komodo project is a public blockchain with an associated token called KMD, and the team has also created a decentralized exchange platform called Barterdex. The open source software allows users to trade cryptocurrencies across multiple blockchain networks using a technique called atomic swaps. An atomic swap is a method of trading between two blockchain networks without relying on the use of a third party intermediary. The platform has a user-friendly interface but needs more liquidity across most trading pairs.

Testing Cryptocurrency Atomic Swaps With Barterdex

Barterdex gives you a twelve-word seed phrase to get started. Peer-to-Peer Order Book

What’s interesting about Barterdex is in contrast to other Dex protocols like the NXT and Bitshares competitors is that the platforms order books are peer-to-peer and decentralized. Komodo developers say the order book system is “analogue of a full relay node and a node that doesn’t relay.” All buys and sells are displayed for traders and updates are frequently propagated throughout the network.

Testing Cryptocurrency Atomic Swaps With Barterdex

The Barterdex platform has a lot of cryptocurrencies to choose from alongside coins that are tethered to the SPV Electrum server.

There is a wide variety of cryptocurrencies to swap with, but some have a lot more volume than others and trading these coins will produce faster results if you are experimenting. When Barterdex app loads, users are given a twelve-word mnemonic phrase and asks you to copy the information like any other private wallet seed. After writing down the mnemonic phrase, users are greeted with a window that displays a portfolio data, and recently visited markets. There’s also a window for trade history, a debug menu, and a settings section where you can change the theme and language.

A Successful BCH for KMD Swap

In order to get started, you need to choose which currency you want to use to trade and which digital asset you want. You then need to deposit the coin to a smart address if to complete an atomic swap offer across the exchange’s network of peers. A full confirmation for the transaction is needed to see the deposit and get started using Barterdex. After the deposit confirms you can then select which currency you want to buy with the cryptocurrency you just added. To find some markets with good volume, you can peruse through a lot of well-known coins to offer a trade or look for peers by populating the list of offers.

Testing Cryptocurrency Atomic Swaps With Barterdex

After roughly 30 minutes of testing the platform and waiting for a trade to execute the coins had finally swapped. Given the fact that one of the Komodo developers gave us some instructions it helped make the process run a touch more smoothly. Otherwise, it’s good to have some knowledge on how to use any cryptocurrency exchange and understand a basic order book process.

More Traders Needed

Much like Bisq, and the new Bittorrent application Joystream, the Barterdex platform needs more active traders. Most of the waiting is due to figuring out which coins have better liquidity, and waiting for a trade to be accepted across the network. The platform definitely works, the interface is sharp and charts are updated regularly. The use of decentralized exchanges is still light across the board, and this factor is the case for all of the trading platforms that enable cryptocurrency swaps without a third party. It’s safe to say it’s going to take some time for traders to leave centralized exchanges for platforms like these.

Have you tried the Barterdex exchange? Let us know what you think about this trading platform in the comments below.

Images via Barterdex, Shutterstock, and Jamie Redman.

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The post Testing Cryptocurrency Atomic Swaps With Barterdex appeared first on Bitcoin News.

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PR: Crypto Commodity Exchange Digital Ticks Pre – ICO Sells out in 40 Minutes Flat! Public ICO on 15th April 2018

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Tallin, Estonia – We are announcing a breakthrough in our journey at Digital Ticks. Barely 40 minutes into our ICO pre-sale, our token sale is sold out! Public Sale announced for 15th April 2018.

When we started our Pre-ICO on 25th March, we believed that it definitely would be a success but we couldn’t have predicted what has happened, 40mins and all the tokens for Pre-ICO has been sold out.

Digital Ticks Presale Tokens Sold Out

Digital Ticks has reached presale token cap of $5.7 million in just 40mins since it opened.

Visit Digital Ticks to get details about Public Sale Token.

Digital Ticks is the first ever commodity-to-crypto platform for trading in the world.
Combining decades of experience in Finance, IT Development, Marketing and Licensing, they seek to address important pains associated with the current crypto trading on major platforms using the latest technology in trading and innovation.

Speaking after the phenomenal presale, Jitu Bajaj – CEO & Mayur Poddar -CCO had the following to say;
“We are very humbled and excited by the response from contributors during the pre-sale. It is a testimony that what we believe in is a true dream that is shared by millions around the world. Today, we embark on an unstoppable journey of making any commodity tradable using crypto. The journey begins now.”

We take this opportunity to sincerely thank each and every one of the early participants who supported us in such a large number and confirmed we are on the right track. There are a lot of goals and challenges ahead of us. We commit ourselves to follow the roadmap plans, taking into account all the principles of transparency, and of course: your advice and support.

Who is Digital Ticks?

From the time the smart contract evolved with the Ethereum blockchain, several industry-based blockchain ideas have been springing up.

However, crypto has only been traded in crypto-to-crypto or crypto-to-fiat pairs.
Digital Ticks wants to create, for the first time, a commodity-to- crypto trading option that allows a direct link between crypto to world commodity markets.

And to do that, they envision a situation where they will provide more than 2000 cryptos trading in their exchange with more than 200k BTC worth of daily volume, with pairing options to run from Gold, Silver and many other tradable world commodities. They hope to give an early bird free-of-fees trading in the early stages of operation.

The Presale

The big news here is that Digital Ticks presale was over 40 minutes after it started on March 25th, 2018.

They intend to use the money thus raised to fund the establishment of the platform as highlighted in their website.

The Public sale will start on April 15th, 2018, when the price is expected to increase marginally from $0.30 to $0.37-$0.70 depending on the tier one is buying at.

On the platform, you can trade either as a maker, providing liquidity for the market, or a taker, placing actual trades.

If you refer your friends to the platform by sharing your link, you will be getting 5% of all proceeds the platform makes from their trades.

Digital ticks will give an early bird free trading holiday.

The Public Sale

To fund the rest of the roadmap especially the marketing of the platform, public token sales will be availed in 4 tiers, with price increments ranging from $0.37 to $0.70.

The token sale is expected to be completed on 15th May 2018, with a hard cap of $30 million reached.

The company will burn all remaining tokens once the hard cap is reached, and will routinely use buybacks to reduce the token in circulation and increase the token’s market value.

Can you still send funds to buy tokens

The ICO begins on 15th April 2018. The tokens will be available in four tiers.
Already, there are contributions that have been sent to Digital Ticks awaiting the opening of the ICO.

Digital Ticks have confirmed that this money will be accepted and kept in their backend cold storage, awaiting the opening of the ICO.

The funds will then be expended on purchase of the tokens on a first come, first served basis.
There are a lot of enquiries on their helpdesk as we speak, and the team will try to answer all queries as much as possible.

However, you can rest assured that all money deposited can either be used to buy the tokens or claim a refund immediately as and when requested.

Why we should be excited

The moment the debate starts about commodity-to- crypto pairings on exchanges, everyone will have the chance to participate in creating a mass adoption of the blockchain technology as a means of exchange.

But the main advantage that Digital Ticks brings is the ability to trade crypto with real-world commodities for the first time.

Website: https://www.digitalticks.com/
Twitter: https://twitter.com/DigitalTicks
Facebook: https://www.facebook.com/DigitalTicksExchange
Telegram: https://t.me/digitalticksexchange

Contact Email Address
gauri@digitalticks.com
Supporting Link
https://www.digitalticks.com/

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Crypto Commodity Exchange Digital Ticks Pre – ICO Sells out in 40 Minutes Flat! Public ICO on 15th April 2018 appeared first on Bitcoin News.

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The Crypto Show: Water Abundance XPRIZE Finalist James McCanney

The Crypto Show: Water Abundance XPRIZE Finalist James McCanney

.Tonight we have John Ferguson of the Technology & Choice podcast co-hosting with Chris. Our guest is Professor James McCanney. The breaking news is the Mr. McCanney is one of five finalists out of a field of 96 international competitors for the‚ Water Abundance XPRIZE.‚The purpose of the prize is to develop the technology to be able to provide fresh water, extracted from the air, with a self-contained, sustainable power source. Roughly half of the world's population does not have access to sufficient fresh water. The prize is designed to develop the tech to remedy this.‚Extracting water from the air is not a new idea but it can take a lot of power.‚ At the heart of why Professor McCanney is sure he can win the prize is Wing Generator technology, which has implications far, far beyond just water production.‚There's a lot of exciting stuff here. Don't miss it.‚LINKS‚Professor McCanney's Wing Generator Campaign -- http://jmccwing.comProfessor McCanney's Science website -- http://jmccsci.comXPRIZE Water Abundance Prize site -- https://water.xprize.org/‚‚ Technology & Choice interview with Professor McCanney --https://technologyandchoice.com/2018/03/episode-30-decentralizing-energy-for-real-with-jim-mccanney/‚Sponsored by: Dash, CryptoCompare and Defense Distributed

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The Crypto Show on Facebook

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Tip with Crypto

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Dash: XoeHNrTMKcLWxZpKfUnDMpRbHFNgFmRrLF

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