The Blockchain technology is the force behind digitex a chain of blocks that allows exchange by eliminating transaction fees through the creation of its own cryptocurrency and intelligent contracts in the chain of blocking maintain the account of merchants balances, that allows the exchange to work without trust.
Digitex also uses the blockchain to govern the issuance of new tokens efficiently and democratically through rules and voting systems encoded in smart contracts. One of the big promises of the block chain is decentralized governance. Assuming that the owners of DGTX will act in their own collective interest, Digitex can move forward as a dynamic organization able to adapt quickly to changing conditions.
WHAT IS DIGITEX:
Digitex is a hybrid futures exchange that combines the speed and reliability of a centralized order matching engine with the untrusted security of decentralized account balances in the blockchain. This offers merchants the best of both worlds when it comes to the speed of execution and the security of their deposits. Traders enjoy the benefits of real-time trading in a fast order adjustment engine without the need to rely on the exchange with their money.
Digitex Futures Exchange is a new project with the mission of transforming Bitcoin futures trading. For the first time, operators will be able to obtain single-digit gains in cryptocurrency prices, without suffering the crippling commissions charged by normal exchanges that make it impossible to make a profit. When we say that there are zero commissions in Digitex Futures Exchange, we mean exactly that. It is not a temporary free trial or a marketing ploy to attract merchants and then introduce fees a few months later.
CHARACTERISTICS AND BENEFITS OF DIGITEX FUTURES EXCHANGUE:
.jpg)
NEGOTIATION OF FUTURES WITHOUT COMMISSIONS
The idealized dream of the futures trader of a free exchange of commissions is something real. When creating a standard rules token using a given pattern in the blockchain, it is known as a DGTX token or rather Digitex Futures Exchange's.
The exchange of futures is what gives the DGTX card its usefulness as a vehicle for trading high liquidity futures markets without any transaction fees. And the only way merchants can participate in these markets is to buy DGTX tokens to cover their margin requirements to open stores.
There will be a minimum and maximum funding limit. A separate and fully audited intelligent contract will maintain a cumulative total of all token issuance events so that an exact and verifiable total offer of DGTX tokens is always publicly available.
HYBRID MODEL (CENTRALIZED AND DECENTRALIZED COMPONENTS)
Digitex is the intelligent combination of the speed and reliability of server centralization with the untrusted security of decentralized intelligent contracts.
The Digitex Futures Exchange interacts with the intelligent contract so that it can update the available balance to reflect the outstanding margin liabilities of the merchant and its exchanging gains and losses, but the exchange does not have physical possession of the merchant's funds and can not do anything else with the funds that are saved in the contract.
The Ultimate Ringfence: Decentralized account balances.
Account balance of an intelligent contract:
The centralized exchange acts as a response to the independent intelligent contract that maintains the balances of merchants' accounts. When a merchant wants to withdraw DGTX tokens from their account, the smart contract must first request the change to update their business profits and losses, as well as their liabilities for current margins on their current matching and matchless orders. In this way, the smart contract can update its available to withdraw the balance. Such updates to the balance of a merchant's account in the smart contracts are in chain, so to minimize gas costs the updates are only sent to the smart contract when the merchant wants to withdraw.
This communication between the exchange and the smart contract presents a way for hackers who want to hack the exchange for the purpose of updating the smart contract with incorrect information that allows them to withdraw more than they have. The solution to this is to calculate the profit of the merchant and the loss from zero of all your exchanges matched whenever the intelligent contract requests an update of the balance of a merchant's account. By doing this, it is impossible for hackers who have somehow accessed the exchange to send incorrect updates to the smart contract because they will not be able to create the necessary fake matching exchanges (each one needs a matching counterpart and timestamps) to calculate their false benefit and update the smart contract with it.
More information and resources:
Digitex:
Digitex WhitePaper:
Blog de Digitex:
Digitex Reddit:
Digitex Facebook:
Digitex Twitter:
Digitex YouTube:
Digitex Twitter:
digitex2018
This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
You can also follow @contestbot to be notified of future contests!