CoinEx is Building Public Blockchain “CoinEx Chain” for Its Decentralized Trading Exchange
Digital asset exchange CoinEx has been operating since 2017. Recently, the exchange announced that it is developing CoinEx Chain, a public chain, for the purpose of decentralized trading. The website for the new decentralized trading platform launched on March 22 and the CoinEX DEX is set to go online at the end of 2019.
CoinEX has some promising features, such as a high-speed machine engine that will ensure faster secondary transaction confirmation and better processing capacity – about 10,000 transactions in just one second. According to the CEO Of CoinEX, Haipo Yang,
“A brand new pattern of the ecosystem, a new era of exchanges. No more centralized drawbacks, users can control their private keys in their own hands, easily create a secured wallet, issue and manage their own tokens, and then freed of the fuss of prolonged listing procedures. Since all operations and account addresses are traceable and positions and transaction data are crystal clear, the only mission for the platform (CoinEX DEX) is to provide efficient and stable wallet and transaction services.”
Another prime feature of the platform is that it enables users to maintain control of their private keys. The platform will neither host nor transfer a users’ assets or save their private keys. Instead, it will simply ensure that an efficient and stable wallet is available. With this type of system, users can store assets, use their own wallet, and they simply need to verify signatures using their private keys when it comes to orders. Further, transactions take seconds to confirm and most are executed instantly.
CoinEx Chain is also planning on preinstalling a token issuing module to promote efficiency when it comes to issuing tokens. Users can issue tokens anywhere and wherever they want. This is different from smart contracts, which tend to require specific steps to be followed before tokens are issued. At least here, users have more control.
The platform is set to be open source, high performance, and convenient for those who use it.