Deviant Coin (DEV) is focused on providing users with a wholesome and secure crypto experience. Deviant team aims to do this by developing their own DEX (Decentralized Exchange) and a specialized Hardware wallet which couples as 3FA – The first in the Crypto space. This is made possible while also keeping user’s interest by making this a utility based coin (POS/ Masternode).
We all know that any unexpected sudden policy changes at the centralized exchanges may sometime put the crypto communities at their mercy. There’s nothing one can do about it. A delisting for a certain currencies can prove devastating and may shake the community trust in the very platform. No coin would want to be in that position. In order to be fully reliant on in-house liquidity, Deviant coin intends to offer Decentralized Exchange Service(DEVX) that will implement multi level security features unlike any other.
Decentralized Exchanges are the next big thing, as it eliminates the hinders in what the Crypto space is meant for. A free, seamless, trustless transition in the global trading was long due. And we felt that need when China swung the regulatory sword on a few giant exchanges hailing from Chinese region. It was only then when people realized that BitShares wasn’t just another platform, but more than that…
Since then, many BitShares based projects have taken off. But none have actually fulfilled their promises of that seamless, user-friendly experience. DEVX claims to change that.
DEVX — Deviant Decentralized Exchange
DEVX will be a hybrid exchange leveraging Smartcoins on the Bitshares (BTS) blockchain, in order to get to market as soon as possible. It will be launched as a new crypto-assets trading platform extracting the best components from both decentralized and centralized exchanges.
DEVX will be built as a wrapper around the Bitshares (BTS) blockchain, and will have the capacity to accomplish the sub-second latency offered by centralized exchanges. All finished trades will be buffered and later pushed to the blockchain in cluster batches to ensure transparency and integrity with each trade.
All the user funds sent to DEVX will be collateralized using BTS (the native token to BitShares blockchain). In the event of fraud or theft of funds, the user can simply claim the BTS collateral received for deposit.
In addition, DEVX will have the ability to perform additional optimization, such as picking the best time and best order to transact trades to the blockchain, and caching. To each user, the experience will resemble trading cryptocurrencies on a centralized exchange, while furnishing the trader with a more transparent process, and with a greater control over movement of funds.
The DEVX Transient Protocol
Generally, Blockchains are slower than traditional databases, which brings in comparatively slow confirmation times and higher fees for blockchain users. While BTS is among the fastest blockchains, and is following an amazing trajectory in terms of continuous upgrades and enhancements, it is still too slow and expensive to meet the demands and expectations of active traders and for the likes of centralized exchanges.
To counter this problem, recent exchange projects have adopted hybrid, off-chain solutions rather than remain 100% on-chain. Such hybrid approaches are meant to enable the resulting solution to process more intensive market related and trading related tasks using modern, time tested approaches off-chain, but also conduct final settlement on-chain. This helps diminish exchange costs yet providing a trustless setup for many of the most important components.
DEVX handles the order creation and matching outside the BitShares blockchain since the alternative would make the trading too expensive and slow. The DEVX Transient Protocol (“DEVTP”) empowers the platform to remain deft while quick upgrades are made to guarantee versatility of the network.
DEVX coin will be utilized for the fee’s on the DEVX platform. All the fee’s charged for exchange will be in DEVX. The proposed fee’s are about 0.25% of the amount of order – half of the fee’s i.e 50% will go to the community vault for maintenance purposes and 50% will go to the HODLERS of DEVX.
Additionally, if you are holding 1000 DEVX, you will be able to trade for free along with other value-added benefits.
In conclusion, so far all the features offered by DEVX is never seen before (to the best of my knowledge) or implemented in a way that DEVX plans to. None of the exchanges came with a better UI despite tall claims – OpenLedger does a pretty good job in that sphere but it has failed in listing variety of coins. I think If DEVX goes as per plans and deliver on their promises – it will make a huge difference. BitShares true potential is yet to come to fruition and I have no doubts whatsoever that the DEVX team is fully equipped to pull it off.