Blockonix is evident to be the best Etherdelta alternative.
The Ethereum network has proven to be one of the most successful cryptocurrency after Bitcoin and it has a number of issues and scalability is one among the top ones. Many other cryptocurrency tokens and Blockchain platforms were developed, in order to improvise on the bottlenecks of the Ethereum Blockchain. But until now, the original Ethereum Blockchain hasn’t taken firm decisions to meet its requirements. Therefore, other cryptocurrencies which were developed to improve Ethereum have automatically increased their probability of leaving it behind. But Ethereum is still dominating, in fact, many of the crypto exchanges are dedicated for the Ethereum tokens itself. Let us see what is Etherdelta and what is the best Etherdelta alternative.
Etherdelta is one of the most renowned cryptocurrency exchange which was developed initially, in order to provide a helping hand in the development of the Ethereum community. The whole cryptocurrency exchange runs on the Ethereum based smart contracts for various exchange operations such as deposit, withdrawal, transaction, and wallet integration. But the cryptocurrency exchange was experiencing a number of problems when the users started reporting about the bottlenecks of the exchange.
Drawbacks of Etherdelta
The cryptocurrency exchange had to face minor problems from their customers when they were observed to be reporting some minor issues on their website. An infinite loop redirection to the website’s DDoS check was one of them. It was only when, one of the users of Etherdelta pointed out a major flaw in the smart contract code, which rendered the users a huge amount of losses while trading their tokens through Etherdelta.
A big loophole in Etherdelta smart contract
The user precisely observed that the actual Ethereum tokens had a precision of 18 decimal places, but due to the small glitches in the code of the smart contracts which is responsible to run the transactions, this precision was relatively low. Therefore even after charging 0.3% of the “takers fee”, the user observed the lesser amount of the cryptocurrency token in his personal wallet. This discrepancy renders some amount of the tokens to be left on the Ether delta wallet itself, even if one assumes that they have withdrawn their total funds. Nevertheless, this amount is invariably very less but considering many accounts on the exchange, it can’t be neglected.
Blockonix – the EtherDelta alternative
Therefore an Etherdelta alternative can be utilized by the users, by shifting their perspective from Etherdelta to one of the aptest and secure decentralized cryptocurrency exchange, Blockonix. The cryptocurrency exchange completely runs on the smart contract functionality with 0% human interference. It also supports hundreds of Ethereum Tokens, which were listed on the first day of the launch itself and can effectively be used to trade with the ETH or USDT. Also, the transaction fees are kept as low as possible to 0.1%. As the cryptocurrency exchange is inherently decentralized in nature, the developmental team doesn’t need to exclusively incorporate security mechanisms, which in turn results in a decrease in their maintenance expenditure, indirectly resulting in collecting lower transaction fee.
Added features of the Etherdelta alternative
An icing on the cake is that a 70% discount is readily made available to all of its users using the EtherDelta alternative, Blockonix. The only prerequisite to avail this amazing offer is that the users of the Etherdelta alternative, Blockonix, must choose to undertake the transactions with the native token of the decentralized exchange, BDT.
The Etherdelta alternative Blockonix has been bought into existence for the development of the cryptocurrency space and its community members. This is evident from the fact that, all the transaction fee collected in the form of Ethereum tokens are converted into BDT tokens and are burned completely, which would, in turn, increases the value of the native cryptocurrency token. The motive here is the Trading fee is not used by the team members but is used for the development of the community itself.
This selfless nature of the exchange makes it highly transparent and reliable in this competitive and highly vulnerable cryptocurrency domain. The Etherdelta alternative, Blockonix absolutely avails no profit from any sources. It even facilities the easy transfer of the Ethereum wallet, as they support MetaMask extension. Therefore, a peer-to-peer and hassle-free trading is made possible only through this Etherdelta alternative.