An eagerly awaited new project that may upset digital currency exchanging is set to launch on April 5. Ethen , a decentralized platform for trading digital forms of money for proficient brokers, dealers and financial specialists, will launch with a one of a kind calculation for getting and exchanging ERC20 tokens. It is decentralized cryptocurrency exchange platform for Ethereum network.
It highlights wallets coordinated with Ethereum-based smart contracts that enable clients to oversee exchanges, stores, and development of assets. Ethen will likewise give a reinforcement include by distributing their open source code for pulling back assets on Github if the fundamental site gets inaccessible.
Its creators states that, “Our main goal in developing Ethen was to make decentralized exchanges more accessible to a wide range of users, not just to professional traders, while incorporating as many convenient features as possible from centralized exchanges. We brought on top-level developers with experience building high load systems to create the most stable system available on the Internet. Our decentralized algorithms for carrying out transactions with cryptocurrency of completely different volumes help to create an unparalleled trading experience for our users. The smart contracts at the trading core of the platform makes our system completely transparent and practically invulnerable”.
The major difference between Ethen and other different exchanges available is decentralization, which enables clients to maintain a strategic distance from the disadvantages inalienable in a considerable measure of “exemplary” destinations, particularly issues identified with wallet security. For instance, a decentralized trade has no entrance to client wallets, which implies that client reserves are shielded from hacking.
Ethen’s calculation contains a double signature confirmation system for every exchange. Both the marked buy and deal information are first sent to the server where these marks are thought about and checked, at exactly that point is the exchange affirmed. It guarantees prevalent security, superior, and finish control over exchanges, keeping up straightforwardness at all phases of the procedure while in the meantime empowering fundamentally quicker exchanges contrasted with different trades.
Ethen enables clients to check the address of the shrewd contract, arrange type, token address, remarkable exchange number, cost and measure of the token, and in addition the termination date of every exchange before affirming their request by marking it with their own particular key. The marked request is then sent to the server, which adds its own mark to the exchange for confirmation. At the point when the beneficiary gets a request or requests marked by the server, the beneficiary can send the exchange to the smart contract.The framework at that point checks the two marks and whether the two clients have adequate assets to finish the transaction. Only at that point are the tokens sent starting with one address then onto the next address. The smart contract creates event logs, which are synchronized with the server, to advise clients of updates to exchange data.
SPECIFICATIONS
- Algorithm: NIST5
- Maturity: 40 blocks
- Difficulty Re-target: 20 blocks
- Total Coins: 110.9 million
Advantages
- Decentralized exchange based on Ethereum smart contracts
- Double-signature verification for transactions
- No user account, no access to user wallets
- An intuitive and user-friendly interface
- Trade recommendations
- Filters for quick search of orders
- Round-the-clock online support
- Low commissions
- Wide range of tokens
- Stable platform
