Welcome to our first technology team monthly newsletter.
As we continue the work on our decentralized exchange (DEX) platform, we’re also expanding our platforms for communication and consultation with our community. Through this newsletter we will provide regular updates on the latest progress on the OAX DEX, as well as important news and developments in the industry and how it affects the OAX community.
OUR ANNIVERSARY AND OUR FIRST POC RELEASE
We are coming up to 12 months of OAX Foundation with the anniversary of our token sale this month and we are excited to announce that we are well on track with our DEX.
A lot has changed over the last 12 months, moving from our early visions of solving some of the biggest challenges facing our industry and experimenting with different technologies to solve them. We are proud to present our initial Proof of Concept, a basic DEX which offers the ability to trade ERC-20 tokens and uses aggregated order books. This will be fully released with all code for our anniversary.
This has been achieved using the 0x ordering and settlement protocol, with Whisper-based payment channels, a unique solution in that it demonstrates not only off-chain order channels with on-chain settlement (0x’s hybrid model and one of the proposed solutions to the ethereum overuse issue), but it also uses decentralized, shared order books. Here’s the video about the vision behind our project.
https://www.youtube.com/watch?time_continue=1&v=DdPKHA6buO0
WHAT’S NEXT FOR THE OAX DEX
While Phase 1 POC is exciting, to truly achieve the volumes and outcomes we want, 0x’s hybrid model just isn’t enough.
The OAX Foundation is already working hard to deploy our solution using a new technology called SPRITES. SPRITES is special because it allows us to generate fully auditable, immutable transactions which are decoupled from ethereum transaction delays. Click here for more about the amazing potential of this technology and how it could apply to our platform.
This new technology is so promising, the Ethereum Foundation recently provided two grants to our partner Enuma Technologies to further its development!
The full article on our Medium:
https://medium.com/@OAX_Foundation/newsletter-june-2018-f2533e51193d
Official site: https://www.oax.org/en
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