“The path of a crypto pioneer is not an easy one; destiny uncertain, driven for reward, fraught with risk and fuelled by passion” @cryptocurator Nov 18
You have to applaud the new tech pioneers that tread the path in this dynamic crypto-sphere, they demonstrate real passion for their projects whilst at the same time they must have a high tolerance for risk. I’m writing today about two pioneer blockchain technology companies and a partnership between them arranged to bring about more scalability to a top crypto exchange.
Digitex Futures
A few months ago, I caught all the buzz about Digitex Futures, I was interested in how they were pioneering the build of a new crypto futures trading exchange to trade futures on Bitcoin, Ethereum and Litecoin with zero transaction fees. This was being made possible by the minting of a new crypto currency the DGTX token. The native token is an ERC 223 Ethereum Token and is used as the base currency for all transactions taking place in the exchange, at the time of writing the cryptocurrency has a market cap of close to $50million.
“Instead of charging transaction fees on trades, the exchange covers costs by minting a small number of new DGTX tokens each year and selling them in well publicized and transparent token sales.” [Source: Digitex]
Back in January 2018, the initial DGTX token sale was a massive ICO success when all the tokens were sold for ETH valued at $5.2m dollars. The sale lasted just 17 minutes with the tokens being bought by 2,530 investor buyers, and furthermore the token sale was oversubscribed with refunds having to be made to 10,000 other buyers after all the tokens had sold out. The project will run with this initial funding round for the first two years, at which point newly created tokens will be sold to fund the project.
This year the company has been focussed on delivering the roadmap, with a recent milestone being their demo at the Malta Blockchain Summit on 1st November, and their focus has been building the number of registrations for the exchange launch. The impressive waitlist now boasting approximately half a million registrations. You can join the wait list [here https://digitexfutures.com/get-early-access/?kid=RT84R).
I saw the live stream demo from the Malta Blockchain Summit and you would have to conclude it does look like the exchange will be unbelievably simple to operate. The simple ladder is used to buy and sell futures, enabling users to make real-time trading decisions with a simple one-click functionality.
Digitex founder Adam Todd meets the definition of a pioneer having found this niche idea and you can see that his journey is fuelled by passion and a determined entrepreneurial spirit. The baton is surely now with the Digitex developers to deliver a beta version of the digitex futures exchange by the end of Q4, and then further down the line in 2019 is the new pioneering partnership with Matter Inc which will bring about the next transformational change.
Matter Inc
If you have spent more than a few hours acquiring knowledge about cryptocurrencies you will have realised that Bitcoin and Ethereum were the first paradigm shifting blockchains. Bitcoin creating a secure sovereign value, the ability for people to have complete ownership of their own banking; and the Ethereum blockchain with smart contracts creating the opportunity for the ICO phenomenon through which projects and companies, like Digitex Futures, raise capital to fulfil their ideas.
Criticism is sometimes levied in the direction of thhttps://digitexfutures.com/e Bitcoin and Ethereum blockchains for being slow and lacking capacity, and now pioneers in the world of blockchain technology are looking at the implementation of scaling solutions that will increase the speed and bandwidth of the networks significantly and, in turn, this will massively reduce the cost of transactions.
One such solution is called a "sidechain", the original design and idea for a sidechain on the Ethereum blockchain came from Vitalik Buterin and Joseph Poon and they called the solution Plasma. It is basically a solution for conducting off-chain transactions at speed but still with the security of the underlying Ethereum blockchain. It’s like a tree, where the branches ("sidechains") do all the transactional work and then the completed transactions are stored back in the trunk ("main chain") once completed.
Pioneer developers at Matter Inc are on the road to realising an implementation of the Plasma protocol which they claim could see transactions volumes increase from 15 per second to 22,000 per second. The Plasma protocol will mean high volume data intensive applications can run on the blockchain and the new speeds mean that decentralized apps will actually work without causing major backlogs.
The team at Matter Inc consists of many experienced software developers and cryptographers and they see one of the first applications of Plasma being well suited to decentralised trading exchanges and the tokenisation of financial instruments. With this in mind, it was interesting to read in the cryptocurrency news about the partnership being developed between Matter Inc and Digitex Futures to implement the Plasma protocol for the Digitex exchange in 2019.
Plasma Partnership
The crypto news within the last few weeks informed me that Digitex will be one of the very first companies to incorporate Plasma into their technology and it will be the only hybrid cryptocurrency exchange that will offer this innovative solution combined with commission free transactions and a native cryptocurrency.
“We’re extremely excited and honored by the opportunity to work with Plasma’s core development team and to be one of the first companies to implement this technology, the long-awaited solution to Ethereums’ scaling issue. It seems very fitting that Digitex should be the first hybrid exchange to adopt this technology. We’re breaking the mold with our commission-free non-custodial trading model and now we’re able to offer our traders the most cutting-edge technology solution available. We couldn’t be happier.” Adam Todd CEO Digitex Futures
This sounds like a true pioneering partnership, cutting a new pathway to a brighter faster future.
Digitex is one of the pioneers at the frontier of blockchain technology, their hybrid exchange is looking to combine the best parts of centralized and decentralized systems and you can join the waiting list for the launch, [herehttps://digitexfutures.com/get-early-access/?kid=RT84R), the first 5,000 who are granted access to the platform will receive 1,000 DGTX tokens as a running start to their futures trading on the new top exchange.
You can learn more about Digitex Futures: The Zero Fees Exchange here:
- Project Website: https://digitexfutures.com/
- Products & Services:
https://digitexfutures.com/exchange/
https://digitexfutures.com/dgtx/ - Digitex Team: https://digitexfutures.com/about-us/
- Digitex Story:
- Facebook: https://www.facebook.com/DigitexFutures/
- Medium: https://medium.com/digitex-futures
- Twitter: https://twitter.com/digitexfutures
- YouTube: https://twitter.com/digitexfutures?lang=en
- LinkedIn: https://www.linkedin.com/company/digitex-futures-exchange/
DISCLAIMER
The information contained within this post shall not be taken as a financial advice. I am not a financial advisor and none of your investment decisions should be carried out based on any information presented here. You can lose all of your money by investing. The information presented in this article is for educational and entertainment purposes only.