Decentralized Exchange TokenJar Adds 400 Ethereum ERC-20 Tokens Support
TokenJar Lists Additional 400 ERC-20 Tokens
As days go by, additional altcoins are launched into the crypto space, a significant pointer that the global economy is shifting towards decentralized platforms. Besides the widely-known cryptocurrencies such as Bitcoin and Ethereum, there are several thousand that are still unknown to enthusiasts. Among these minnows are Experty (EXY), a cryptocurrency based on Ethereum's ERC20 protocol, and TokenJar, a digital asset trading platform that currently lists of 400 ERC20 tokens on its portfolio. Despite having a relatively low profile now, these two are gaining at a fast rate, and are likely to rise to fame within a short while.
TokenJar intends to take over the crypt trading space by using an aggressive approach. The platform operates on the 0x protocol and regularly updates its digital asset listing. Most recently, the exchange added little-known altcoins such as Ankorus Global (ANK) and 0chain (ZCN), as well as established altcoins such as Zilliqa (ZIL).
Moreover, TokenJar is presently working towards the inclusion of promising altcoins, including Gambling Porn Network (GPN) and Thug Life token (THUG). Furthermore, it is easy to list a token on the TokenJar exchange, as the only prerequisite is the token’s ERC20 compliant smart contract.
Why Are ERC-20 Token's Turning to TokenJar?
Although TokenJar is still an underdog when compared to established cryptocurrency exchanges, its contribution to the digital asset trading sphere cannot be overlooked. This is because such platforms providers a cheaper and more accessible alternative to join the crypto space as compared to ‘big names' such as Binance and Huobi.
To put this into perspective, Huobi and Binance are an established large-scale business within a secure premise, while TokenJar is the small-scale enterprise. Typically, the larger store has safer goods, but the smaller business offers lower prices. Therefore, TokenJar has significantly fewer restrictions as compared to the household names
While the TokenJar platform is open to listings from any interested party, such additions must satisfy particular criteria before being officially added to the portfolio. The requirements are;
- The project must display substantial promise
- The number of token holders must meet a certain threshold
- The project must have backing from a stable community
Due to the requirements mentioned above, at least 67% of applications for custom tokens usually turned down by TokenJar. Similarly, other decentralized platforms have imposed restrictions to control the addition of altcoins.
Notwithstanding the popularity of digital currencies, many investors still have reservations about trading in the crypto space. Usually, more massive exchanges invest in top-notch solutions to prevent the possibility of fraud. In 2017, Coinbase made a mess by adding Bitcoin Cash onto its crypto asset listing, and the platform is not expected to add another crypto until after six months. Contrariwise, decentralized exchanges (DEX) permit the addition of any digital currency.
The exorbitant listing fees (over $1 million) charged by first-rate exchange platforms are the reason that small projects abscond from such platforms. On the other hand, DEX’s such as TokenJar provided the same services as Coinbase, Binance and Huobi, albeit at affordable fees. For this reason, they are the preferred option for nascent blockchain-based projects.