Volentix multi-functional decentralized exchange platform

Cryptocurrencies have attracted attention of several sectors of the economy for quite some time now, some country have even developed their own natonal cryptocurrency. When Satoshi Nakamoto released the white paper to the blockchain-based Bitcoin, a brand new industry of digital tender was born.

Cryptocurrency exchanges are platforms where digital assets (cryptocurrency) can be exchanged for another cryptocurrency or for fiat currency. Cryptocurrency exchanges operate on the basis of trading cryptocurrencies with other assets. The core purpose of an exchange is to allow for buying and selling of digital assets.

Basically, there are 3 types of cryptocurrency exchanges namely, Centralised exchanges (CEX), Decentralised exchanges (DEX) and Hybrids.

Centralised exchanges are own and governed by a company of central organisation which offers cryptocurrency trades from either fiat-to-cryptocurrency or crypto-to-crypto tender. Assets of users are controlled exclusively by the central body.

A decentralized exchange is an alternative to a traditional, centralized exchange. This type of cryptocurrency platform does not depend on a company or a service to control the assets of a customer. Instead, the trades or transactions are controlled by an automated process without any central presence. These trades are considered peer-to-peer or customer-to-customer.

A hybrid cryptocurrency exchange combines the features of both centralized and decentralized exchanges. Taking the best from platform concepts, a hybrid exchange offers the trustless nature combined with the low latency and fast transaction speeds of centralized platforms.

COMPANY INTRODUCTION

Volentix is building a decentralized digital assets exchange connected with a secure multi-currency cross-blockchain peer-to-peer wallet.
The Volentix aims to be a decentralized autonomous organization (DAO). According to Wikipedia “A decentralized autonomous organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization that is run through rules encoded as computer programs called smart contracts. A DAO’s financial transaction record and program rules are maintained on a blockchain.”

WHY EOS PLATFORM?

Volentix choose EOS platform because VDex will benefit from the following standard features which has already be incorporated into the EOS platform, the software provides accounts, authentication, databases, asynchronous communication, and scheduling across clusters. Components and protocols are already built into the platform, and a subset can be used to satisfy our VDex requirements.

THE VTX TOKEN.
VTX is native digital asset of VDex decentralized exchange. VTX is built on EOS platform.

UTILITIES OF VTX TOKEN

To reward participants in the consensus process and in Venue campaigns.
To pay and redistribute transaction fees on the VDex exchange.
To submit and vote on proposals to the Volentix ecosystem, using the voting rights allocated to VTX holders.
To stake support for reviewing proposals and implementing projects.
To incentivize users to participate in order book settlement by becoming nodes via their Verto wallets.
To incentivize users to lock funds in for >24 hours by HTLC time-bound transactions.

TOKEN DETAILS
Token: VTX
Platform: EOS
PreICO price: 1 VTX = 0.17 USD
Price in ICO: 1 VTX 0.3300 USD
Accepting: BTC, BCH, EOS, ETH
Soft cap: 3,000,000 USD
Hard cap: 48,500,000 USD
Total Supply: 800,000,000 VTX
Available VTX for Supporter: 65,000,000 VTX
Total token for sale: 364,000,000 VTX
Total token 455M VTX for public treasury: 455,000,000 VTX

DISTRIBUTION OF VTX TOKEN

As at the time of submitting this article, Volentix is considering that the distribution of VTX will depend on the outcome of the private pre-sales and possible public sale.

TEAM

For more information check out the whitepaper: https://volentix.io/documentation/vdex-whitepaper
Website: https://volentix.io/
Bounty0x username: Joyjoyce0