zDEX: World’s first Zerocoin based private DEX.
By Ronak_Sunara - 2018-11-13
Private Instant Verified Transaction or PIVX is a privacy coin based on proof-of-stake algorithm which is forked from DASH. The main aim of PIVX is to be an easy to use digital cash, thus reducing transaction time and fees while maintaining high end privacy and security. PIVX can be completely anonymous, thus preventing blockchain analysis from revealing recipients and senders.
zDEX Exchange Platform
PIVX project lead not long ago announced to launch private decentralized cryptocurrency exchange in November which will remove the need for AML, KYC or any ID-verification. This exchange is called zDEX and it is the world’s first private in-wallet decentralized exchange which makes use of zerocoin that utilizes a proof of stake cryptocurrency. zDEX will run on the masternode tier of the PIXV network.
zDEX and PIVX project lead s3v3nh4cks says:
True DEX’s are important as they should require no AML/KYC and the functionality is controlled by the code and not by personal preference or government restrictions. I wanted to create zDEX because a decentralised exchange dedicated to privacy did not exist yet.
zDEX supports BTC, LTC, DASH, PART, ZEC, and BCH presently and plans on adding more coins to the exchange soon. Trade fees at zDEX is set at 0.25% which is split between buying and selling parties. The fees collected will be divided among zDEX team and the masternodes securing the network. All currencies are initially paired with PIVX though plans for future include trading between all supported coins in case of which zerocoin phase will happen autonomously behind the scenes.
How zDEX workszDEX demo
zDEX offers users with decentralized and anonymous exchange for converting cryptocurrencies to zPIV and vice versa. zPIV is a protocol-level coin mixing service using zero knowledge proofs to sever the link between the sender and the receiver with 100% anonymity and un-traceability.
Users don’t need to undergo in-wallet registration necessarily for using the exchange platform. To add additional layer of security and anonymity to exchange platform, coins are not stored in servers.
Advantages of zDEX exchange
Decentralized and Anonymous: Decentralization removes the need of middleman services. Also, the Use of zPIV ensures 100% anonymity. Moreover, no paper work, KYC, ID-verification or in-wallet registration is required to use the exchange.
Low trading fees: zDEX has kept the trading fee as low as 0.25% which will be split equally between buyer and seller, thus making it better option than other exchanges.
High Performance Blockchain: zDEX makes use of the PIVX blockchain network with improved privacy and anonymity features. The transactions are done within seconds on PIVX blockchain and with negligible fees.
Increased Security: As zDEX is a decentralized platform, it’s not prone to being hacked and the use of zerocoin protects individual users from becoming targets. Also, the coins are not stored in servers which increases the security of funds that exchange holds significantly.