Ever since decentralized exchanges became popular, we’re all familiar with their features and we basically love using them. Unfortunately, if using one, you have noticed that user-friendliness isn’t its bestselling point. This time, I would like to commit the article to a new decentralized exchange, launched by PivX, called zDEX.
What makes zDEX different?
First of all, zDEX stands for Zerocoin Decentralized Exchange. If you’re willing to use it, you’ll have to download the dedicated application from the platform, which is available for Linux at the moment but from next week on it will work with every operating system.
It’s better using an app since web hosting servers frequently become a tasty bite for hackers. Do you remember what happened with EherDelta (ForkDelta)? Their DNS server was compromised by an attack.
zDEX is depending on PivX Masternodes system, which has multi-signature accounts and order-book matching. Where does it come from? For those of you who can’t imagine, PivX traded the zPIV coin, which is a zero-coin protocol edition of the original PivX.
Anyway, what makes these coins interesting is their anonymity. Bitcoin or Ethereum aren’t private at this exchange but if you trade them for zPIV you’ll receive an off-chain and anonymous version of PIV coins itself.
As a privacy-orientated coin, PivX aims to reveal the anonymity features even to those who still haven’t explore them.
Premium feature
User accounts expire after the period of 24 hours. This means that you’re supposed to transfer your funds either to a new account or a new wallet. This is integrated for the purpose of keeping the exchange decentralized. Thus, you avoid the need of a centralized control to remove accounts. According the main developer, this is “an automatic fail-safe mechanism”. Your assets get automatically unlocked to move them without getting frozen.
Payouts a zDEX node operator can expect
The transaction fees are going to be split between the development team (80%) and the zDEX nodes (20%). If you would like to fully support the PivX network, you can always become a Masternode by locking 10 000 PIVs into computer, which is going to perform online all time long. Setting up a zDEX node aims to provide you with a profit of up to 0.025 BTC per month in an average trade volume of 100 bitcoins per day. Each trade requires 15 randomly selected nodes to group and confirm it. When it occurs, the nodes will receive a share of the fee depending on the coin which was initially traded. What do we mean? If you trade a DASH transaction, you’ll receive the rewarding fee in DASH.
Bottom line
Each node can participate in multiple transactions. If you choose the zDEX node as an addition to the nodes fees, you’ll also receive some Masternodes rewards. Currently, in an alpha stage, the zDEX supports Bitcoin, Bitcoin Cash, Litecoin, Dash, Particl and Zcash. You can try the testnet now, but you’ll need to wait several weeks for the mainnet edition. Stay tuned for the public launching and check out this helpful tutorial: zdex.exchange/tutorials