komodo atomic dex
Komodo’s AtomicDEX Now Runs A Full P2P Node In Web Browser
December 7, 2019
komodo atomic dex
Komodo’s AtomicDEX Now Runs A Full P2P Node In Web Browser
December 7, 2019

Developers of multi-chain architecture project Komodo has created an implementation of its AtomicDEX that runs a full peer-to-peer (P2P) node in the user’s web browser.

On Dec. 5 a press release was shared by Komodo developers stating that the platform allows for non-custodial cryptocurrency trading through atomic swaps.

Expansion Of Atomic DEX

The company has expanded its AtomicDEX mobile decentralized exchange (DEX) to work in web browsers on all major platforms.

Atomic swaps are a smart contract-based technology that enables users to trade digital assets without any third-party involvement.

The firm announced:

“Users who wish to make trades using AtomicDEX will be able to do so by simply visiting a URL and logging into their account; there is no need to download an application. Once a user visits the page, the AtomicDEX application will load into the browser and spin up a standalone p2p node. The application will be entirely client-side; no sensitive data or private keys will be transferred to a third party over the course of an exchange.”

The beta of the mobile DEX launched its public beta earlier and saw over 3,500 beta testers so far.

ALSO READ :  How To Implement Blockchain In Your Business?

Komodo chief technical officer Kadan Stadelmann the lack of decentralization of many competing DEX implementations:

“While it’s common to hear industry participants throwing around the terms ‘DEX’ and ‘atomic swaps’ to describe their tech, most solutions on the market have been pure hype or have seriously compromised their stated commitments to decentralization. Komodo’s AtomicDEX is the undoubted industry leader, and we are fully prepared to back that statement up, full stop. We’ve been working on atomic swaps since 2014 and have even collaborated with their inventor, Tier Nolan.”

Stadelmann further claimed that the firm has conducted over 100,000 swaps so far. The objective of the firm is to allow its user base to trade cryptocurrencies without middlemen by typing a URL or using the phone.

When asked by on whether having a centralized server distribute the software to web browsers at each use could have negative cybersecurity implications, Stadelmann said:

“Not really, as it’s no more centralised than any other software distribution platform/channel for any other DEX. By that metric, other websites and repositories where people can download a DEX (or any other decentralised app) can also be seen as a sort of centralised distribution medium and central point of failure.”

Implementation of Atomic Swap

Stadelmann points out that GitHub can remove specific projects as can Google Play and Apple App Store.

ALSO READ :  Asian Countries To Adopt Blockchain Technology For Securing Their Data Amidst COVID-19 Pandemic

Also, additional steps have been taken to prevent modified software from joining the network:

“The DEX software itself has validation mechanisms (digital signature) that would ensure that users are using the real and authentic DEX software. […] Unsigned and thus potentially malicious software won’t be able to access the real DEX network.”

Stadelmann explained how AtomicDEX handles swaps between crypto-assets across blockchains:

“A swap between two chains actually takes place between those two chains — and not between proxy tokens and other “intermediate” layers. […] We firmly state that no other DEX comes close.”

When asked on Komodo’s solution to the lack of volume affecting decentralized trading platforms, Stadelmann explained that the firm hopes to achieve it by sharing liquidity between all the third-party implementations that use the firm’s application programming interface (API).

The CTO hopes that users will also integrate the DEX with centralized trading platforms to address the issue:

ALSO READ :  Getting ready to enter the Blockchain industry? But Confused!

“AtomicDEX is natively compatible to be used with the APIs of various centralized exchanges (CEX). So any end-user could attach his DEX node to a CEX through their API key – this way the user can mirror the CEX orderbooks over to the DEX and just add a small margin to even make profit out of the deal.”


Source: Cointelegraph

Image: CryptoNewsZ | The Crypto Show |Blockonomi


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Industries to be Disrupted by Blockchain

Industries to be Disrupted by Blockchain

Technologies bring innovation and better opportunities across the globe by transforming the way how businesses work and because of which we listed out industries to be disrupted by Blockchain. Blockchain is one of the...

Blockchain in Journalism

Blockchain in Journalism

Journalism is the activity or profession of writing for newspapers, magazines, or news websites or preparing news to be broadcast. It can be distinguished from other activities and products by certain identifiable...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.