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.
The exchange explains that as it builds on the ERC-20 framework, in the future developers hope to add other public blockchains into the mix such as RSK, BCH, and EOS.
Dex.top representative, Fiona Lin, tells us the trading platform’s public launch will begin around the end of May. While giving the platform a tour we noticed that users utilize Metamask as their wallet which gives the exchange fluid transfers with ETH or ERC-20 tokens. Users simply tether their Dex account to the Metamask wallet and when you sign to deposit or withdraw tokens users confirm via the Metamask UI. The Dex team in the future it will also be collaborating with other wallets like Imtoken, Bitcome, and the hardware wallet Ledger. At the moment due to the pre-trial period, the Dex.top platform has very little volume and users at the moment.