The Waves blockchain platform is launching its decentralised exchange (DEX) today. The developers explain that DEX is designed to avoid the problems that plagued earlier decentralised exchanges and prevented them from gaining a critical mass of users.
Waves’ DEX offers asset-to-asset trading as well as crypto and fiat tokens integration. It promises to operate very quickly as trades will be executed on the matching engine, while still being settled on the blockchain. The interface will be similar to the centralized bitcoin exchanges that are most popular in the cryptocurrency world.
The Matcher enables decentralised cryptocurrency trading in near real-time, according to the developers. Matcher nodes pair buyers and sellers, executing trades instantly whilst still ensuring that these are ultimately settled on the blockchain. Matchers will receive fees for the service they provide, adding another revenue stream for Waves full nodes.
At the same time, Leased Proof-of-Stake (LPoS) is being released, allowing anyone to lease their mining power to a full node and receive rewards while increasing network security. Ordinary users will be able to lease their mining power and receive rewards from the fees from transactions that the node processes – yet the holder maintains full control over his funds, and can cancel the lease at any time.
“The release of DEX and LPoS signal that the Waves platform is open for business. Whilst we have many more developments in the pipeline, the existing functionality allows anyone to launch, transfer and trade digital tokens – making the benefits of blockchain technology freely accessible to a wide range of enterprises and individuals,” commented Sasha Ivanov, founder and CEO of Waves.