Today BlockchainBrad speaks with IDEX CEO, Alex Wearn, in an exclusive Crypto Interview. IDEX is the first Ethereum based decentralized smart contract exchange to support real-time trading and high transaction throughput. IDEX is the most advanced Ethereum DEX, supporting limit and market orders, gas-free cancels, and the ability to fill many trades at once.
00:47 What sets you apart in sense of decentralized exchanges (DEXs)?
02:40 Why should we be using IDEX?
05:48 What’s the main value prop in terms of tech?
09:00 How do you really address the issue of security as you start to make major improvements to the scalability?
11:24 About the increase of the use and interaction with IDEX’s exchange
13:48 About the competitors
16:50 About wash trading
17:57 About transparency of fees & income
20:33 About market makers
25:42 About the utility token
31:20 The risks of the token
32:46 How did you come up with the design of your token?
35:23 About the listings that IDEX have
41:03 About the security token
44:11 The future of IDEX
47:00 Final statements
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How does IDEX work?
IDEX consists of a smart contract, a trading engine, and a transaction processing arbiter. The smart contract is responsible for trustlessly storing all assets and executing trade settlement, and all trades must be authorized by the user’s private keys.
However, unlike other decentralized exchanges, the IDEX smart contract is designed such that only the exchange is authorized to submit signed trades to Ethereum. This enables IDEX to control the order in which transactions are processed, separating the act of trading from final settlement. As users trade their exchange balances are updated in real-time, while simultaneously their private keys are used to authorize the trade in the contract. This authorization prevents users from rescinding any completed trades, and prevents IDEX from initiating any unauthorized trades.
Authorized transactions are passed to the arbiter which manages the queue of pending transactions, dispatching them in sequence to ensure that each trade is mined in the correct order and that the smart contract balances stay in synch with the exchange balances. By controlling the transaction sequence, IDEX provides the speed and user experience of centralized exchanges combined with the security and auditability of decentralized exchanges.
IDEX staking allows users to run specialized nodes that execute or manage specific functions related to IDEX. In return for helping decentralize various “tiers” of our product architecture, node operators are compensated in ether (ETH). Learn more about IDEX staking.
This interview update was entirely, 100% free from both me & BlockVera. In every way, no tokens, no under the table deals. I believe that sponsored content is NOT a problem if disclosed openly to the community. This is not Financial Advice. Please #DYOR
I have not invested in IDEX. This is not Financial Advice. #DYOR always.
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#blockchainbrad #DEX #IDEX #CryptoExchange #AlexWearn