The Komodo project is a public blockchain with a related token KMD. The development group also created a decentralized exchange Barterdex. Because of the open source software, the users are able to trade cryptocurrencies through numerous blockchain networks by a technique of atomic swaps. That method lets trading between 2 networks without the necessity of the use of a third party intermediary.
Komodo disclosed that Barterdex had transacted in common 90,663 productive atomic swaps. Barterdex is different from the other Dex protocols (NXT and Bitshares) with its decentralized and peer-to peer order books. Komodo programmers claim the other book system is “analogue of a full relay node and a node that doesn’t relay.” All updated are constantly sprode around the network and every buy (or a sell) is displayed for traders.
There is a huge amount of cryptocurrencies to swap with, but some kinds have a lot of more profits than the others and trading these coins may bring faster effect if you are experimenting. When the app loads, the users are received a twelve-word mnemonic phrase and asked to copy the information. After this, the users are greeted with a window of portfolio data, and recently observed markets. There is also a window for trade history, a debug menu, and a settings section.
Firstly it is necessary to choose the preferred type of cryptocurrency and the digital asset you wish. Then you are to deposit the coin to a smart address to complete the atomic swap offer across the exchange peers`network. For observing the deposit and starting to explore Barterdex you have to confirm your transaction. When the deposit is confirmed you may select which currency you want to buy with the cryptocurrency you just added. After approximately 30 minutes of testing the platform and expecting for a trade to execute, the coins have been finally swapped.
So, the testing has revealed that the platform certainly works, the interface is smart and the charts are updated regularly. Like any other resemble application, Barterdex needs more active traders. It would take some time for traders to leave centralized exchanges for platforms like these.
Price at the moment of press: $2,39 USD (-5,37%) / 0,00034058 BTC (1,13%)
24h volume: $1 597 600 USD (227,73 BTC)
Market Cap: $248 571 748 USD (35 433 BTC)