Thanks to the Blockchain solution, which has spurred various new technologies that have been providing useful real-world Applications. Facilities like smart contract, decentralization, Proof of Work consensus mechanism, Distributed Ledger are connected and put forth before us in a way never imagined before. Precisely, it is the interconnection and the usage methodology that is the power of the Blockchain technology that Satoshi Nakamoto has invented. Decentralization specifically is the key to the security of the cryptocurrencies. But the cryptocurrency exchanges are not Decentralized up to the mark. Hence, due to their centralized nature, and in turn lack of security, we constantly witness various hacks where huge amounts of funds are stolen from the exchange. Therefore Decentralized exchanges have come into the picture more recently.
Blockonix is one such decentralized crypto Exchange which was initiated in April 2018, from Malta. Blockonix is highly popular and reliable among many other decentralized Exchanges for a number of reasons.
Below are some of these reasons which makes Blockonix one of the best Ethereum based decentralized exchange.
Decentralization of Blockonix
Blockonix is highly decentralized, specifically 100% decentralized in nature, as there is absolutely no human intervention when it comes to the transnational confirmations and order matching. The Blockonix exchange uses smart contract functionality in order to achieve so and therefore there is absolutely no room for the discrepancies or errors caused by the humans as the computer takes care of everything.
Security at Blockonix
As the cryptocurrency exchange is inherently designed to be decentralized in nature, security is automatically incorporated within its domain. It is well known from the fact that the Centralized exchanges store all the funds under their domain, but in case of decentralized exchanges, the funds are absolutely held by the owners itself and not any other person. Even the private keys are which are used on Blockonix are not recorded by the team members.
Amazing fee structure at Blockonix
When it comes to the trading, Blockonix probably stands at number one position relative to its centralized and decentralized counterparts. Blockonix offers a great deal by offering 0.1 % of the transaction fee. Also, an additional 70% discount is available on this fee, if the users choose to undertake a trade with their native cryptocurrency token BDT. This particular feature is probably the one which makes Blockonix one of the best Ethereum based DEX in the market.
Development is the focus of Blockonix
The project members at Blockonix are highly dedicated to improving the crypto exchange and do not look out it as a way to generate revenue. This can be clearly evident from their policies as all the transaction fees which they will be receiving would be converted into their native cryptocurrency token bdt and would be sent to a burn and risk which would indirectly increase the market price and valuation of the token profiting all the BDT to converters token holders Blockonix and name not exclusively spend their time money as well as energy on security as due to decentralization takes care of everything.
Blockonix has a wide range of Ethereum based tokens
The Blockonix listed almost 100 Ethereum based tokens on the first day of its launch itself and further additions have been made since then subsequently. Having such huge screen of options to choose from, at a single place is hell rare. Therefore Blockonix integrates each and every aspect required, in order to provide a world-class experience to its customers with a minimal fee.
Decentralized Crypto exchange Blockonix is one of the best of its kind due to the amazing functionalities and interfaces that the exchange provides. It would absolutely gain lots of attention within the crypto domain, as more number of centralized exchanges would experience downfalls.
Closing thoughts on Blockonix
Luckily due to the cryptocurrency regulations in India, the team members availed an opportunity to convert their initiative to a global scale and launch an international decentralized ethereum based cryptocurrency exchange Blockonix. Otherwise, they would have been left with a normal domestic cryptocurrency exchange in India. It offers amazing referral incentives, in order of increasing the popularity as well as the reach of the ecosystem towards more number of people throughout the world.