Ever since the birth of the miracle of man, his creations have often amazed the world. The twentieth-century Internet has played a vital role in uniting the world to a certain extent, a repository of much cultural diversity. Bitcoin, the first cryptocurrency, was the biggest breakthrough in world trade since the advent of the Internet. At the time of the discovery of bitcoin, Satoshi Nakamoto has not even dreamt that it would conquer the world tomorrow. Since the emergence of the first cryptocurrency, a number of projects have been launched on a daily basis to bring the world's population into the crypto world.
Now, Flowchain is in the process of developing a decentralized digital asset trading platform known as the DEXToken Governance Protocol, in line with the recent emergence of DeFi in the commercial industry. After successfully completing research, development and prototyping, Flowchain launched token sales in 2018 and gave birth to the concept of the DEXToken protocol. But in view of the explosion in the DeFi industry, Flowchain is accelerating its efforts to implement the new plan within December 2020.
Something known as the Speculative Automated Market Maker is the core idea behind this, an algorithm that can create price control and contribute to the development of the next ecosystem of cryptocurrencies.
First of all, hoping to make quick growth in trading market without understanding the protocols is not at all a really good idea! Please, before you invest in cryptocurrencies, learn as much as possible about the rules and regulations. Through #DEXTokenDeFined writing contest, PUBLISH0X is providing better opportunities for us to understand deeply about upcoming DEXToken protocol.
Before entering into the further details, getting some idea about basics will be very helpful for you to criticize these things in your own ways. If you already know that, please do not hesitate to scroll down.
Protocol
The term protocol is commonly used in computer science to refer to a set of rules or procedures governing the transfer of data between two or more electronic devices.
Blockchain & protocol in blockchain
Blockchain is a network of multiple equally important nodes. These are all connected to each other via the internet. Also, it is a LEDGER that stores the record of incoming and outgoing data in p2p form after all participating nodes have verified the transaction.
This ledger operates on pre-defined rules that must be followed by all participating nodes in the network.
This code includes the control of transactions, the algorithm that enables the communication between nodes, and the application programming interface. This code, which governs a blockchain network, is called a blockchain protocol.
Things to know about blockchain protocol
Distributed ledgers:
Distributed ledgers are a type of database that is spread across multiple nodes and continuously collects and stores information.
Consensus Algorithm: An algorithm that defines a network to ensure that transactions have taken place.
Smart contracts: These are a set of logic rules coded. Included in the blockchain to manage the transaction.
Coins and tokens:
The digital assets used to strengthen a blockchain network are coins and tokens. Their value is subject to the market's profit and loss potential.
Coins are essentially specified by the protocol itself. As the ancient digital asset of a blockchain network, coins can be seen.
Tokens are digital assets which are highly defined by intelligent contracts. For instance, ether is the Ethereum protocol's native currency. The Ethereum protocol enables the creation of dApps by its developers. The native digital asset of dApps is tokens.
51 % Attack: The ability to change transaction history and engage in replication by someone controlling more than 50 per cent of network nodes. That is, because 51 per cent of the network is owned by a node or a group of nodes in a blockchain network, they may broadcast the blockchain's private version and build longer networks.
AMM: The automated market maker determines the fair price of an asset in a blockchain network. AMM controls the high market fluctuations caused by excessive speculative trade.
Let us go through the DEXTToken protocol in detail, which puts forward the ideas of giving a scientific minting model for inflation tokens and determine the value of an asset based on the fluctuation of the asset. I try to present the ideas in a concise way that any person can understand.
DEXToken Protocol
Simply, The DEXToken protocol is a framework that focuses on the automated market maker under the Flowchain Foundation. The DEXToken protocol aims to create a fair market system by overcoming the market fluctuations caused by over-speculation using a new AAM Algorithm. After all, the DEXToken protocol envisions an innovative stacking reward and distribution model as well as the emergence of off-chain issuable token technology.
Let us take a brief look at the broader concepts.
Speculative AMM
Speculative AMM, at the heart of the DEXTToken protocol, is unveiling a new valuation method to control market volatility as mentioned above. The valuation will be based on current market value, the number of customers, transactions and platform performance. With the advent of this type of method, price volatility is resolved and smooth trading speculative AMM is enabled.
It mainly includes
-User base full adoption
-Universal price valuation model
-Deflation Token valuation model
Etc...
DEXG Token
Governance tokens play a very important role in establishing an economic and secure model and rules of DEXToken protocol. It has the potential to make a huge impact on crypto infrastructure.
To withstand economic uncertainty, stable coins are created. But due to legal troubles, some of the stable coin projects were closed. DEXG is said to be the perfect token that has all the block chain's features.
It is also an asset to the DeFi project. This is a pre-existing ERC-20 token running on the Ethereum blockchain. Token Distribution Initially 20000 DEXG will be distributed through Unistop and 2000-140'000 tokens will be distributed through Stacking Reward.
Price Tick - User Experience
On the DEXTToken exchange, there will be a single 'buy' button, which will only give the customer a fixed amount according to the purchase price set by AMM. As with all other exchanges, orders are traded in the right order at a reasonable price through the trade engine. If the customer does not receive the required quantity, the trade engine will record and collect it and consider it in subsequent trading.
The DEXToken protocol has its own integrated calculation that can be used both off-chain and on-chain. In addition, there is a plan to expand the Governance token by giving rewards to holders of DEXG tokens.
Properties of DEXTToken protocol in my own views.
-Price volatility is resolved and smooth trading speculative AMM is enabled.
-Decentralized: A blockchain and every node on the network must be stored in a way that can be accessed and copied.
-Consensus Driven: Blockchain transactions are only confirmed after a consensus is reached by all the participating nodes.
-Immutable: All transactions are permanently registered by the blockchain. It can not be reversed once a record is inserted.
-Scalability issues: DEXToken protocol that tried to create answers to challenges of scalability.
-Scientific minting mode is provided for off-chain and inflation tokens.
-Offline transactions can be done and verified using the on-chain smart contract.
-The spread of the token is made possible by $ DEXG owners receiving a portion of the transaction fee profits.
-Another feature of the blockchain is the integrated off-chain calculation and insurance technology.
"DEXTToken protocol" - past to future a quick look
A Singapore-based flow chain foundation led by leading developer Joellen Chen Token sales began in 2018 after successful completion of research, development and prototyping. The project, which launched the DEXToken protocol in 2018, is expected to reach its peak soon, followed by the explosion in the DeFi industry.
There are plans to expand the project next year and expand the product range. The Foundation has expressed interest in working towards compliance with government policies by 2022, given the community's acceptance of the project.
Protocol Analysis
In today's cryptocurrency market, the majority of pricing is controlled by 'whales', exchanges and speculative traders. Users, transaction requirements, platform usage rate, interest rate and other features go unnoticed. When they take advantage of excessive speculative trading that causes high price fluctuations, it leads to huge losses for most investors in the crypto ecosystem.
In fact, it destroys the very idea of a free market.
Protocol by DEXToken. Decentralized exchanges allow investors to minimize losses and the price control power depends on the DEXT group and the DEXG token definition, a perfectly suitable token of governance that does not impact the volatility of the market.
I hope all my readers have been benefited from this small piece of knowledge. Kindly add your valuable suggestions to this article
Thankyou
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