This week news.Bitcoin.com spoke with the team behind a new trading platform called Dex.top — a decentralized exchange built using a smart contract. According to the Dex.top developers the exchange has no access to a user's private key and assets are never held on the Dex. This means, much like the cryptocurrency wallets out there that allow individuals full control over their private keys, Dex does the same as it acts a non-custodial trading platform.
A New Bitmain-Incubated Cryptocurrency Exchange Dex.top Utilizes a Smart Contract to Facilitate Decentralized Trades
The Switzerland-based exchange, Dex.top, is an open source decentralized trading platform incubated by the well-known blockchain firm Bitmain Technologies. Unlike traditional cryptocurrency exchanges, Dex.top is built from a smart contract that is compatible with both the Ethereum and RSK networks. The organization claims that all assets are kept within a smart contract and are never held by the exchange. Dex.top says that users maintain full control over their assets and transactions are always signed by the users themselves.
"Technically users do not need to trust Dex.top, as Dex.top neither has a user's asset nor does it have the authority to transfer the user's asset. Lastly, our platform utilizes Raft's algorithm to ensure our system's security and usability," explains the Dex development team.
It initially creates ROC (Replayed-On-Chain) trading mechanism, which supports off-chain and on-chain of two ledgers that secure assets and instant trading.