Barterdex to test Cryptocurrency Atomic Swaps

Komodo (the creators of Barterdex exchange) is testing the method of atomic swap trading by validation of user interface and software
30 March 2018   31657

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)

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   145

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
 

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.