VDEX : A DECENTRALIZED EXCHANGE

Introducing Volentix

Volentix is a decentralized exchange platform that built on the EOS.IO smart contract. Volentix will be be introducing a project known as VDex. Members of the public if interested can get more enlightened by visiting this site https://github.com/Volentix/ezeos.

The VDex project will wholly concentrate on building a better user experience, community development and governance. Volentix has the mindset of testing their designs and assumptions through the custom EZEOS software. They will also assemble portfolios of decentralized applications and also access established technologies and to plan strategic new protocol.

Security Concerns

As we very well know that security is one of the most important feature of the VDex project, the Volentix platform will take strategic methods to ensure the security of the community.

Below are the threats confronting security:

Forged identities : hostile users goes ahead to create forged/ fake identities in order to send large number of small orders to attack loopring nodes. Notwithstanding, most of these orders are rejected for not yielding a satisfactory profit when matched.

Double spend : this is a situation where a cryptocurrency is used to carry out two different transaction, when this happens the race attack also takes place. A race attack is when two contradictory transactions are sent in rapid succession into the network.
Timing attack : this situation takes place when a third party observer reduces the content of an encrypted data, they do this by recording and analyzing the time taken to execute cryptographic algorithms.
-Insufficient Balance : baleful users sign and spread orders that has the value of which is non-zero but the address of which has a zero balance.

Security Measures

These are ways by which we fight the security challenges to a standstill

Log inspection: Log inspection helps to forward a transaction on forks that do not involve the referenced block. They also send signals to the network to notify them about a particular user and stake on a specific fork.
Auditing Rogue Processes : The Artificial Intelligence ( AI) analysis of rogue processes will assemble and reside on the aggregators.
Transaction as Proof of Stake (TaPoS) : this stops the replay of transaction on the forks that do not involve the referenced book. They then signal the network that a particular user and stake are on a certain fork.

Randomization : The RAFT protocol ensures randomization by using different lengths of timeouts.

True Decentralization

EOS.IO is a trustable, reliable and scalable infrastructure that encourages decentralized applications. Its main objective is a fair and transparent block producer ( The BP ), the election process makes use of a democratic delegated proof of stake ( DPoS ) consensus.

Since the system recently begins to multiply there is bound to be a temporal malfunction. Due to this situation, to some extent centralization is inevitable and obligatory. One of the philosophies that guides us is the importance of decentralization and our continuous effort are aimed at promoting a reduction in the level of dependence on central authority.

The distribution of VTX

VTX Allocation: 2.1 billion
Public: 78%
Public treasury: 455 million
Staking transaction: 800 million
Public distribution: 364 million

Contributors and facilitators: 19%
156 million contributors
130 million prior work
130 million future work
Seed funding 3%
65 million

Conclusion

The Volentix team has worked tirelessly to ensure that the exchange market becomes better and comfortable for users all around the globe, they have put their heads together to eliminate all forms of threats confronting security and also built a fortified infrastructure that repels hacking and intrusions from an unwanted persons. The community has been promised an improved user experience and satisfaction, in no time soon the cryptocurrency exchange market will experience a dramatic turnaround that will stand in for all times.

Useful Links

Website : https://volentix.io/
Telegram : https://t.me/volentix
Twitter : https://twitter.com/Volentix
Whitepaper : https://s3.ca-central-1.amazonaws.com/volentix/VDexWhitePaper.pdf

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