CryptoCurrency : CryptoCurve’s Decentralized and Centralized Exchange Features
My previous post had entailed a bunch of different features offered by CryptoCurve. Within this one I’m going to detail the Exchange Integrations both Decentralized and Centralized, as extracted from their whitepaper. Here’s the breakdown:
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**Decentralized Exchange:**
+ Trade directly from inside the Curve Wallet
+ No need to manually track trade history
+ Save time by using only one trading platform
+ Users will be able to trust in the blockchain – not a centralized database
+ Decentralized back end, ease of use similar to a centralized interface
+ Wide variety of liquidity pools provides consistency
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Utilizing the 0x protocol, it allows an off-cain order relay with on-chain settlement. First as an OTC platform for p2p order matching, 0x has off-chain relayers. Now these are essentially distributed hosts that maintain and broadcast the order books like how a blockchain does (hence decntralized). Market makers release signed orders backed by on-chain confirmation, and market takers buy these. Once it is bought it is backed by on-chain settlement.
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**Integration:**
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+ Connect to CryptoCurve Ethereum node clusters
+ Connect to CryptoCurve Øx relayer
+ Retrieve the current Øx exchange contract address
+ Retrieve the WETH and ZRX token addresses
+ Setup an account
+ Set a spending allowance (user configurable)
+ Generate WETH (Converts ETH into ERC20 compatible WETH)
+ Transact with the relayer
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**BENEFITS :** Low Fees, (CurveWallet has its own relayer therefore discounted rates, Make Orders, Take Orders, Finds best Matching order for Taken)
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Decentralized Exchange: Allows for Spot Trading, Margin Trading, Futures
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**Centralized Exchange**
There are two notable ways whereby CryptoCurve invloves centralized exchanges into their ecosystem.
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Phase 1- Users add their trade API keys directly and has full control. The keys are stored with the user and will interact directly with their exchange wallets
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Phase 2- Shared State Channels. Users will just need to activate an exchange service and be given full access to functionality
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– Instant Transfers + Low Fees: Thanks to State Channels
– Payment Processing: Multi-channel state channels will allow for third parties desiring to receive payment in cryptocurrency to accept payment via state channels. (Free, Instantaneous Payments)
– Beneficiaries: Adding beneficiaries is key to improve security. A beneficiary will need to be added before a payment can occur. Beneficiaries will also have a privatized trust score.
– Transfer Limits: Able to set limits on a certain basis per currency.
– Detailed Reporting
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This is just the gist of the overall spectrum from what I’ve analysed. I’ll be back to post more on CryptoCurve’s features. Till then, do comment your opinions and concerns!
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Author: cryptohype
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