Decentralised Exchange
Last updated
Last updated
Since another powerful use case for the user is to convert their existing tokens into another, we are baking a DEX into the wallet natively, to provide user the facility to exchange tokens from the mobile platform itself. We are partnering with 0x and Kyber network to become token agnostic, since they have already done good work in their projects, as well as have a good backing of the community.
There is a good amount of work being done by projects like Kyber, 0x, Airswap, Atomic Swap etc. We plan to make decentralised exchange as a first layer of the wallet, integrated with the fiat-crypto exchange. This will enable users to get the best prices and exchange digital crypto assets rapidly with ease.
We are building Opoch in a modular manner so that we can easily add or replace third party integrations (as in the case of DEX) with the best project solving the problem for the community.
With the rise of blockchain and use-cases around the blockchain the number of crypto-assets have risen as well. Exchanging of these crypto-assets with each other is one of the biggest economic activity as discussed above.
Allowing this activity of exchange of crypto-assets in decentralized (without a third party intermediary) has been a continuous research area, so that users are not exposed to risk of hacks associated with centralized exchanges. Out of these attempts 0x and KyberNetwork stands out. They use smart contracts to the on chain exchange. 0x allows to create order-book exchange. KyberNetwork allows to do instant exchange of assets using liquidity pools.
As discussed above the there have been multiple attempts to improve the technology over the bitcoin blockchain. In the current ecosystem exists multiple blockchains with niche application of each of those and different crypto-assets. To enable users to be able to use these niche functionality, the cross-blockchain interaction as well asset exchange becomes important. Atomic Swaps are one way to do interaction with one blockchain assets to other. Cosmos [[iv]] and Polka dot[[v]] are also trying to solve cross blockchain interoperability in their own ways. By the time these solutions are live cryptocurrency pool held in smart-contracts can be used to enable cross-chain interaction.
