Decentralization - Increases Security and Accessibility + Throughput (dependent on model)submitted by AnchorEdward to CryptoCurrency [link] [comments]
Privacy - Promotes Autonomy against Central Forces, Freedom, and Liberty in market participation
Interface - Usability from UI/UX Standpoint
Governance - Security, Market Fairness, Community and Platform Evolution
Liquidity - Volume. None of the above will help without liquidity
Though these are just a number of characteristics that i find critical for exchanges to evolve as we're coming to an age of tighter regulation and the increasing risks apparent in centralized exchanges. This is a purely opinionated piece which i'd like to pair with the recent article released by Resistance on it's Overview.
The Resistance Decentralized ExchangeResDEX uses the Resistance privacy coin as an intermediary in private trades and implements many additional technologies, including Tor support, instant swaps, an extremely user-friendly graphical interface, and more.
Liquidity SolvedResDEX has dedicated market makers who ensure liquidity stays high on the exchange and users can perform trades quickly at competitive prices (Huobi & XRP). Anyone can become a market maker on ResDEX and provide liquidity to the market. As an added bonus, makers don’t pay fees on ResDEX. The ResDEX exchange fee (0.15%) is paid by the taker and used to support the platform, fund market making, and donate to privacy projects voted for by the community.
Add Privacy Features to Any CoinAs an added feature, users can add privacy to almost any cryptocurrency, including Bitcoin, even if that currency doesn’t support private transactions natively. By harnessing the power of the Resistance privacy-oriented blockchain, ResDEX will automatically trade the coin of your choice to RES and send RES in place of the original currency, thereby adding privacy to the trade.
Users can also utilize the same trading mechanism to add privacy to a non-private cryptocurrency by automatically trading to RES and then trading back to the original cryptocurrency.
Utilizing ZK SnarksBitcoin is not fungible because it does not provide users with sufficient privacy and anonymity. The transaction history of every Bitcoin is publicly available for anyone to scrutinize. Centralized exchanges like Coinbase, for example, will in some cases block funds based on your coins’ past transactions.
With zk-SNARKs, a form of zero-knowledge proof used to facilitate private transactions on the Resistance blockchain, it’s possible for RES to have no public record or history. If users choose to send a coin through a private transaction, its history is essentially erased.
Democratized Mining (Introducing yespower)Just like Bitcoin and Litecoin, the Resistance blockchain itself is built upon a fast cryptographic hash for performance. Resistance also utilizes yespower as a separate Proof of Work hash, in the same way that Litecoin uses scrypt. Specifically designed for CPU mining, yespower is a hashing algorithm based on scrypt and the newer yescrypt.
It favors the standard CPUs you’ll find in regular laptop and desktop computers and offers no benefit to FPGAs or ASICs. This means anyone can mine on the Resistance blockchain without the high-spec mining rigs that are required to mine Bitcoin, Ethereum, and many other cryptocurrencies.
More on Privacy - TOR Routing - Supporting the CommunityNote that everyone can choose to use onion routing through the TOR NETWORK to hide their ip when making transactions. This really reinforces their whole privacy aspect of the exchange.
It was also announced on their Telegram that they are going to run a program where the COMMUNITY VOTES FOR ONE PRIVACY COMMUNITY TO BE ALLOCATED 15% of ALL EXCHANGE FEES TO BE SUPPORTED.
At times like these, especially in a bear market, I hope to see more collaboration among projects because we are nothing but islands upon islands of dispersed communities that would gain more working in sync.
Resistance is a project i'm curious to see challenge the status quo, along with Binance DEX as CZ also claims that DEX's are the future. Will the traditional Centralized Exchanges die out? I don't think so. But I'd rather opt for a decentralized solution.
Information was taken from the Resistance Release Article
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