Fourth-generation Blockchain-as-a-Service provider ChainZilla and creator of first privatized decentralized exchange NIX have formed a partnership to bridge communication between external decentralized exchanges to create privacy elements among all and any compatible ecosystems.
In an e-mail to Cryptovest, Chainzilla CEO Charles Gonzales said NIX’s DEX Manager will be a dApp, leveraging NIX’s unique privacy protocols, that will solve privacy layers among DEX trading, creating a security layer for any protocol and tradeable asset through a multi-tiered trading structure.
“An improved version of zero-knowledge proofs known as bulletproofs is in development,” Gonzales said.
He explained that as cryptocurrency use increases, exchanges become the main point of entry for many first-time users. As a consequence, even though cryptocurrencies are inherently decentralized, most of the trades are taking place in centralized exchanges. If cryptocurrencies are meant to give financial independence, then the reliance on traditional exchanges presents a weak link in the philosophy of decentralization.
“Recently however, there have been various projects focused on bringing a fully-fledged decentralized exchange or ‘DEX’ to market. Some of the most advanced exchanges according to inDEX include IDEX, BarterDEX, OpenLedger, and Crypto Bridge. Other larger, established players such as Binance and Coinbase are either building or buying a DEX capability. While these exchanges represent an important milestone towards decentralized trading of digital assets and even though most of these exchanges are operational, they nevertheless lack liquidity and most of all they lack privacy,” he explained.
He added ChainZilla’s role in the partnership...
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