æternity invests in weiDex To Develop The First Decentralized Exchange On The Platform
æternity Ventures will provide $100,000 USD investment to support weiDex decentralized exchange efforts
Vaduz, Liechtenstein — 8 January 2019 — æternity, the blockchain 3.0 platform designed to deliver unmatched efficiency, transparent governance and global scalability, has partnered with weiDex, a decentralized cryptocurrency exchange. As well as guidance and support from æternity's team of developers, the partnership includes an investment that will facilitate the development of the first decentralized exchange by weiDex, which will operate on the æternity blockchain and will make use of the protocol’s unique technological stack. The collaboration will let users carry out cross-chain, trust-free atomic swaps between AE tokens and a variety of other cryptocurrencies, including bitcoin, ether, and NEO. In addition, a decentralized exchange that can be integrated in æpps will provide a convenient gateway to æternity's ecosystem, as well as enable new users to quickly acquire AE tokens for use on the platform.
Nikola Stojanow, CBDO of æternity and CEO of æternity Ventures, said: “Users of centralized exchanges face a number of issues in their day-to-day transactions, the main ones being the significant risk of hacks, unannounced downtimes, blocked funds and personal data leaks. We’re excited to see a growth in the usage of decentralized exchanges like weiDex that address these issues. æternity is the ideal platform for weiDex to build on, as it can handle large amounts of secure trades, allowing users to swap tokens privately and as quickly and conveniently as possible.”
In addition to helping to develop the exchange, æternity will provide weiDex with $100,000 USD in funding, which the company will invest in its ongoing research and development. Initially, weiDex will develop a version of the exchange with current Ethereum smart contract combined with contracts on the æternity blockchain, allowing users to trade ERC-20 tokens and æternity tokens from the same interface.
Tito Titov, CEO of weiDex, said: “It is clear that decentralized exchanges are the future of crypto trading. Trading decentralized assets in a centralized way, as is the status quo, renders the main ethos of blockchain technology — decentralization — void. This is why we have partnered with æternity to develop the first decentralized exchange on the æternity blockchain, letting users trade tokens in a way that is safe and transparent.”
For more information about æternity, visit https://www.aeternity.com/
About æternity:
Founded in 2016, æternity is an open-source, blockchain-based ecosystem and computing platform that builds on decentralized cryptographic P2P technology. Designed to deliver unmatched productivity, transparent governance, and global scalability, æternity has built a consensus mechanism with maximum efficiency and cost-effectiveness.
æternity's unique state channel design enables the off-chain execution of transactions and smart contracts. This lets all interactions be independent of one another other, thereby increasing transaction speed and scalability while also ensuring increased privacy.
æternity’s underlying unit of account is the AE token, which can be transferred between users and is used to compensate participants for their value-generating efforts, including providing security and useful information to the network. All AE token users will be allowed to participate in the governance of the æternity blockchain through a voting process, weighted by the number of tokens each user holds.
About æternity Ventures:
æternity Ventures is established with the goal to support and enable projects, building applications on the æternity blockchain. The company oversees the global incubator and accelerator program “Starfleet”.
Posted from my blog with SteemPress : https://hodlitbro.com.au/2019/01/09/press-release-aeternity-invests-in-weidex-to-develop-the-first-decentralized-exchange-on-the-platform/