PIVX finally announced the release of the alpha version of zDEX in 2 weeks. What does this mean? There will be a decentralized exchange based on the PIVX network. That means that you won’t need to register or provide any personal information to use the platform.
While this doesn’t necessarily sound interesting or unique, it’s one of the first DEXs to provide a fully decentralized experience powered by the Masternodes on the network.
How does the platform work?
While the full documentation for the zDEX is not available for the public audience yet, we have a good understanding of how exactly the platform is going to function. Let’s give you some insights into it. Every time a user puts in an order on the platform, they are actually using the Masternodes on the network to exchange his own funds. No one can stop or prohibit any trades since everything is automatically set without any external influence from the project’s team or a third party. Why is this so important? Simply because there is no centralized authority, controlling the network when it comes to this particular kind of exchanges. Ultimately, this is what makes is a decentralized one – inability to bother and manipulate the process.
Remember, this is the alpha release.
The public release will be using a Test net and it will be working with Test net coins only, instead of real coins. In order to use it, you’ll need to type in < -testnet > when you’re launching your daemon and use a faucet to get the coins. For more information, you can visit their official Discord channel and stay tuned to everything that come up for the next two weeks.
When it’s going to be released in a Main net edition?
Once the alpha stage is complete and everything looks stable enough and no nasty bugs appear, the team will release it in a Main net version. At the moment when the platform goes live, Masternode operators will have the option to act as a zNode operator. It’s basically the same as performing a Masternode, which is on the Main net but it will be directly connected to the zDex, as well. Masternode operators will also receive all the transaction fees provided by the zDex platform. This means that running a Masternode on PIVX will attract higher incentive to use ever since they’ve been created.