BaaS Chainzilla Partners with NIX Privacy DEX Manager to Bridge Communications
Chainzilla Partners With NIX
There is a partnership that has come to change the entire face of digital currency exchanges:namely Chainzilla and NIX. Nix is an operator for cryptocurrency exchange, whereas Chainzilla specializes in Blockchain service. The partnership is aimed at closing the gap between communication in external exchanges that are decentralized. The objective is primarily to ensure that any compatible ecosystems are coupled with privacy.
How The Operator And Provider Intend To Go About It
Well, according to Chainzilla CEO, Charles Gonzales, DEX Manager for Nix will be the decentralized application (DApp). The DApp will take up the role of leveraging the operator’s distinct protocol and assets that can be traded via a structure that is multi-listed. He adds that the development of bulletproof, which he says in a more developed version of the zero-knowledge proofs, is underway.
The drive is said to be the need for financial independence which is declining as the use of cryptocurrency increases. Note that for a long time, exchanges have been the to-go for an entry point for a majority of the newbies. It has led to the trade taking place more in the centralized exchanges. For total independence, this has to be done on decentralized exchanges.
Initial Efforts Towards Decentralization Of Exchanges
There have been several projects in place, all looking to decentralize the market. The target has been on major exchanges such as IDEX, Crypto Bridge, OpenLedger, and BarterDEX. Some exchanges like Coinbase and Binance are already buying and building DEX capability. In as much as the efforts give leeway to decentralized trading, there still are loopholes. Privacy and liquidity are still inadequate, if not lacking entirely.
Roles In The Partnership
In the partnership, Chainzilla has been tasked with facilitating tech communities. As such, they have been able to bring Nix and Komodo together with a goal of employing NIX into the ecosystem of BarterDEX. NIX already has some work done: implementing the Blocknet’s protocol layer. The operator has gone further ahead and made integrations of DEX which will consequently increase the capacity that DEX manager holds. That way, NIX can now boast being the first-ever platform to connect several DEXes and improve their privacy and usability.
NIX is currently employing the Ghost Protocol to facilitate decentralized transfers. The Ghost Protocol works with privacy and automatic swaps for cross-chain transactions. Privacy has also been effected during payments, whereby the identity of a sender and the recipient is kept anonymous. The amount being transferred is also hidden.
However, most of the digital currencies lack confidentiality making it one of the significant limitations in the decentralizing efforts.
Why Choose NIX?
It allows users to work with two-way proof anonymity on the chain. Additionally, the operator has more layers in its privacy protocol that makes it entirely bulletproof.
The developments have led to more decentralized exchanges and the users being provided with the most private transactions of the time. In as much as DEX platforms have over the time been faced with some challenges, NIX has made great strides in settling interoperability and liquidity issues.