Due to my posts lots of people registered to OpenLedger - if you havent , do it now - its free and worth it.
Its a decentralized exchange based on Bitshares Network (older brother of STEEM) where you can trade coins, commodities, prediction markets and more.
Today i want to distinc non-BTS chain coins and other things.
I may do some tech mistakes here but logic wise, its how it works so please excuse if i do that - i will try to do not.
Currently when you enter exchanges, they host loads of wallets on different systems where you deposit and withdrawal.
OpenLedger or BTS DEX work different - they host all assets on their chain without installing anything else.
First step is to get free account by CLICKING HERE i read this as i urge you to register. This is the technology of the future and having account doesnt hurt.
Now you can trade Bitshares and assets build on it ie bitUSD [equivlanet of 1USD] bitCNY [same but for CNY], GOLD and whatever else. There is also assets built on BTS [like you can build tokens on Ethereum] ie or @zappl here.
So you can go to OL get some Bitshares and build a coin [token] doing whatever you want - to be your companys asset, be pegged to OIL/GOLD, be a prediction market of when is the hottest day etc.
But what when.. you want to trade coin that has its own chain like ETH?
This is what i want to explain in this post. Prolly one of my longer text posts but lets do it.
There is alot of coins to deposit but the ones i use are:
BTC DASH DOGE ETH EXCL LTC MAID PPC SBD STEEM USDT
The moment you deposit any of those they became OPEN.X (which X is a name) asset.
This way they are now on BTS blockchain but the gateway that let you deposit them ie OpenLedger hold collateral in real wallet.
So now non-bitshares coins became stored on BTS chain while actually being full usage coins of themselves.
Now we go to markets and seek for our pairs each has bitUSD/BTC/BTS/OBITS right away.
So if you followed steps now you trade on exchange which cant get hacked and cant get closed - because its decentralized and all trades are p2p.
OpenLedger Volumes
Not all, seems CMC needs some updates.
TLDR; REGISTER TO DECENTRALIZED EXCHANGE HERE
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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