For those of you that have been keeping up with the latest development of ResDex, the upcoming decentralized Exchange led by team Resistance, here is the latest announcement from the Team. Here is a quick & sneak preview of ResDex, the user-friendly and privacy-focused DEX that is scheduled to go live in Q2, 2019! For more information, visit the official Medium Post or visit the official Telegram community, feel free to ask any question
This article will cover the core features of the Resistance decentralized exchange (ResDEX). In future articles, we will discuss, in depth, the technology that powers the platform, our innovative masternode network, our unique hashing algorithms, and how Resistance is set to dramatically improve usability for users who prefer trading on decentralized exchanges.
ResDEX uses the Resistance privacy coin as an intermediary in private trades and implements many additional technologies, including Tor support, instant swaps, an extremely user-friendly graphical interface, and more.
In addition, ResDEX has dedicated market makers who ensure liquidity stays high on the exchange and users can perform trades quickly at competitive prices. Anyone can become a market maker on ResDEX and provide liquidity to the market. As an added bonus, makers don’t pay fees on ResDEX. The ResDEX exchange fee (0.15%) is paid by the taker and used to support the platform, fund market making, and donate to privacy projects voted for by the community.
Desktop App & Easy Trading
When a user wants to trade on ResDEX, all they have to do is open the ResDEX interface in the Resistance Desktop Application and enable the coins they are interested in trading. The user then deposits coins into a special exchange address derived from their exchange secret seed phrase that only they know. This address is specific to the coin they are trading and each coin has its own derived address.
Add Privacy Features to Any Coin
As an added feature, users can add privacy to almost any cryptocurrency, including Bitcoin, even if that currency doesn’t support private transactions natively. By harnessing the power of the Resistance privacy-oriented blockchain, users can enable this privacy feature at the click of a button. ResDEX will then automatically trade the coin of your choice to RES and send RES in place of the original currency, thereby adding privacy to the trade. Users can also utilize the same trading mechanism to add privacy to a non-private cryptocurrency by automatically trading to RES and then trading back to the original cryptocurrency.
Trade History & Fungibility
Bitcoin is not fungible because it does not provide users with sufficient privacy and anonymity. The transaction history of every Bitcoin is publicly available for anyone to scrutinize. Centralized exchanges like Coinbase, for example, will in some cases block funds based on your coins’ past transactions. With zk-SNARKs, a form of zero-knowledge proof used to facilitate private transactions on the Resistance blockchain, it’s possible for RES to have no public record or history. If users choose to send a coin through a private transaction, its history is essentially erased.
Democratized Mining (Introducing yespower)
Just like Bitcoin and Litecoin, the Resistance blockchain itself is built upon a fast cryptographic hash for performance. Resistance also utilizes yespower as a separate Proof of Work hash, in the same way that Litecoin uses scrypt. Specifically designed for CPU mining, yespower is a hashing algorithm based on scrypt and the newer yescrypt. It favors the standard CPUs you’ll find in regular laptop and desktop computers and offers no benefit to FPGAs or ASICs. This means anyone can mine on the Resistance blockchain without the high-spec mining rigs that are required to mine Bitcoin, Ethereum, and many other cryptocurrencies.
Visit the official Source: An Introduction To Resistance (ResDEX)
Website: https://resistance.io (U.S. visitors restricted)
ResPool Mining: https://respool.io