BANKDEX : A DECENTRALIZED DIGITAL CURRENCY

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INTRODUCTION

The essence of blockchain and cryptocurrency is to distribute decision-making powers from central authorities as well as big powerhouses by decentralization of these bodies.

Blockchain technology allows more trust, ensure security, improved traceability of transactions, have more efficiency and fast. Cryptocurrency transactions are generally based on blockchain technology, the blockchain technology now affects global economy and business transactions. These allow instant, secure, anonymous and peer-peer payments all over the world and helps to prevent corruption and money laundering.

Since the Inception of cryptocurrency, blockchain and the bitcoin technology, there has been different platform and trading opportunities, we also know that the bitcoin is a cryptocurrency, a sort of electronic cash.

2019 marked 10years since the introduction of Bitcoin—the first ever peer-to-peer, decentralized cryptocurrency, as well as the first used case of Blockchain, was unveiled. technically, Blockchain solved the decades-long double spending issues faced that had stopped cryptocurrencies from being created and deployed. Many people, doubted its potentials when it was initially launched.

In most recent, there is a debate as to whether virtual currencies will go mainstream or not. but this has been on high growth rates, financial analysts, Blockchain experts, and enthusiast estimate the number of Bitcoin users to skyrocket to over 200 million by 2024. growth level of a user, there absolutely no doubt that cryptocurrencies are fully ready to penetrate the traditional markets, as a vast majority of consumers, investors, and governments, consumers are already using them.
Despite these remarkable statistics, it is worth agreeing to that cryptocurrency markets have a fundamental distinction when compared to traditional marketplaces.

It's interesting to know that the basic features of cryptocurrency are that it can’t be controlled by any middlemen or authorities. blockchain makes digital identity and record keeping better and so people can create an encrypted digital hub where they can store their personal digital information, being completely in control and giving or revoking access to it.

Blockchain can be used as a tool in supply chain management the working relationship between a business and suppliers of such business, tagged products can be assigned with individual and unique identities, then put onto a transparent and immutable blockchain making it easier to track. the essence of blockchain technology helps with Possible disputes concerning the origin of innovation, could easily be resolved by referring to a tamper‐prove blockchain that could serve as a timestamp of the idea's exact recording.

In the most recent use of blockchain technology fundraising and coin offers for basic startups have yielded so well and positively, it has already made its mark on fundraising activity, by bringing up an entirely new ecosystem for startups to raise the funds they may need to bring their innovations to life.

Furthermore, because of the use tamper-proof characteristics of the blockchain and how difficult it is to be hacked, it is used for voting, can eliminate concerns of voter fraud by providing a clear record of votes.

BANDEX offering solution to the exchanges in blockchain technology. Decentralised exchanges, although not completely functional at the moment, has the potential to overcome the drawbacks of centralised exchanges. Most importantly, they eliminate the need for a third party or middle man in the exchange ecosystem, ensuring smooth and direct trading between the involved. However they do have their own set of challenges.

BankDex is a decentralised cryptocurrency exchange built on an innovative and ground-breaking technology that facilitates inter-blockchain transfer of crypto assets. At present, traders are forced to use centralised exchanges where traders share their control on the assets which creates a huge risk for them. However, BankDex is the first decentralised exchange that solves the transaction problem of cross-chain transfer between different blockchain accounts in a distributed ledger network. On BankDex traders will be able to trade BITCOIN, ETHEREUM, AND other ERC20 TOKENS.

challenges of decentralized exchanges as identified by BANDEX

Low response time
Security loopholes
Lack of flat exchange
Unethical response time
High trading fees

Bandex solutions as tailored to tackle these major problems for both types of exchanges by:

1.Connects different blockchains in a distributed manner
2.Enables both Cross-chain and intra-chain transactions
3.Integrates with any public, private or consortium chain
4.Enables high token exchange privacy
5.Supports low cost transactions

The BankDex platform consists of a Smart Contract, responsible for the storage of assets and execution of trade settlements, a transaction processing arbiter for processing and keeping track of the transaction and a trading engine to carry out the trade.
Although the exchange possesses a centralised order matching system, the order settling is carried out in a decentralized way in the Blockchain, making it a faster exchange platform. It also provides protection from front running by concealing the orders. The orders are paired o chain in a trusted execution environment before getting finally confirmed on the Blockchain. The trade in the exchange is conducted by market makers and market takers. Market makers are those who place orders in the order book, waiting for orders to be matched, while market takers find the existing orders from the order book and match them, effectively taking those orders of the order book.

ROAD MAP

YOU CAN EASILY TRUST BANKDEX
Investor protection will be provided by preserving half of the funds raised by them. This will help to maintain the price of token for a long term, moreover, unsold token will also be burnt to preserve the value of token. In addition, once the exchange is activated and various tokens are listed on it, the amount of 1,000,000 tokens will be burnt every quarter to keep the token value.
If the softcap amount of ICO is not reached, all funds raised by investors will be returned to them and if the hardcap is not reached, we'll forward the project after softcap.

Despite the fall in the cryptocurrency market, virtual currency trade holds the promise of being a fruitful investment option in the near future. We have been seeking an opportunity in exchange environment where multiple blockchain can interact. Our team of experts believe that with BankDex and its technology we will be able help make crypto more accessible for anyone who wants to get involved in trading it.

BankDex aims to utilise the potential of Blockchain Technology to create a secure, fast and easy to use decentralised cryptocurrency exchange that satis-fies all trading needs of investors. We are making use of fully interoperable environment where a user from one blockchain will send funds to another blockchain. In the ecosystem of BankDex di erent blockchains shall be linked
via a ‘Smart Bridge’ that will enable blockchain interoperability. This Smart Bridge acts as an intermediary between di erent blockchains, facilitating the transfer of funds through the network.

Website:https://www.bankdex.io/

White paper : https://www.bankdex.io/wp-content/uploads/2019/07/WhitePaper-ENG.pdf

User name Bounty0x : sobaint1

eth address : 0xd1E7Ff1cf68b9935C7e1aF2a3936bB5e487B0FF6