The DEXON foundation is behind the development of the DEXON exchange. It recently announced that it would launch its testnet.
This will make it possible for developers to benefit from the platform.
— COBINHOOD (@COBINHOOD) November 12, 2018
DEXON testnet will be a tool that makes it possible for developers to create DApps that are Ethereum compatible. This will be used as proofs of concept to show what DEXON can do. While the tokens will have no value, they will be used to test trades between DEXON nodes.
This simulated blocklattice will have the same function as the DEXON mainnet.
DEXON was created in 2018 by the COBINHOOD team. COBINHOOD is a crypto platform that offers various services and serves as an exchange. The aim is to scale the blockchain using a credible and secure blocklattice system.
This testnet will work together with the DEXON explorer called DEXSCAN. The explorer will be user-friendly. It will be used to showcase, confirm, and validate transactions. There will also be a DEXON wallet called the DeEKuSan.
The wallet will make it possible to enter the blocklattice using a browser, run DApps, send tokens, and view transactions. The testnet performs at 10K TPS, and it has three-second latency. This is a record-breaking result in the crypto world.
A Word from the Leadership
According to Popo Chen, the COBINHOOD CEO, the team working on DEXON is finally ready to make their first step in bringing DApps to the masses. This testnet launch is an important milestone for them. It will help to create proof of concepts for the company’s blocklattice ecosystem.
With the launch, the CEO said he hoped they would continue spreading the benefits of the technology to the masses. This would be achieved by educating the developer community. He added that launching the testnet would be important for DEXON. It would ensure that developers have firsthand experience of this technology.
Funding for DEXON
Besides the $20 million funding that was led by IDG Capital in August, DEXON announced that its transaction speed for 50 blocks per second.
This occurred with the aid of 25 nodes . It has an estimated one million transactions a second and with a block size of 2MB, it means each transaction is about 100 bytes.
COBINHOOD is a crypto exchange that launched in December 2017. The exchange has zero transaction fees. To offer the zero fee transactions, the exchange charges for margin loans, ICO fees, and other subscription features.
To deposit and withdraw funds on the exchange, a user has to go through a strict verification process. Once a user signs up, they can pick the level of verification to get past various limits. While anyone can sign up, there are certain places where there may be limited or no access. This could be due to regulatory issues.
The exchange actively works to reach the entire world. Popo Chen, the CEO of this exchange is just 27 years old. He skipped a year of high school to join the National Taiwan University.