ROOTREX Exchange is coming soon
The exchange has always been the core element of the blockchain industry. Since June, with the help of concepts such as dividends and mining, cryptocurrencies issued by exchanges has attracted a lot of attention. Although having created a new round of wealth, this model has also caused plenty of criticism. Whether it is a benefit for people or a manipulated game has prompted a heated discussion.
In any case, exchanges should provide users with a safer, more equitable and more convenient trading experience. With the support of this concept, ONEROOT team has developed a distributed digital currency trading matrix. As an important part of the product sequence, ROOTREX, the representation of distributed decentralized exchanges based on R1 protocol, will be officially launched on July 1.
What is ROOTREX?
ROOTREX is the first distributed decentralized exchange based on R1 protocol. ROOTREX achieves such functions off-chain order relaying, on-chain settlement, transaction record auditability, and decentralized asset custody. Compared with centralized exchanges, assets are more secure and transactions are more transparent. Without black box operations, the transaction speed and experience of ROOTREX can be comparable to centralized exchanges.
What is a distributed decentralized exchange?
Bitcoin gives us the freedom to control our assets, and Ethereum brings us the freedom to distribute assets. At the moment, the control of the transaction is still firmly held in the hands of centralized exchanges. From currency issuance to transaction, the issuer of the asset and the individual trader can only comply with the rules of the exchange.
While distributed decentralized exchanges provide everyone with a simple and easy-to-use template, reducing the threshold of transactions, and returning the freedom of transactions to individuals. As the first implementation of the distributed decentralized exchange based on R1 protocol, ROOTREX is like a “model room”. In the future, anyone can use R1 protocol to build a decentralized exchange similar to ROOTREX and retrieve the freedom of trading!
The six characteristics of ROOTREX based on R1 protocol
1. Asset security
The security issue has always been the blade of Damocles hanging on top of everyone’s heads. Centralized exchanges have gathered a large number of assets and have repeatedly become the target of hackers. The assets of ROOTREX users are stored in the smart contract and are controlled by users independently. Therefore, even if the exchange is attacked, there is no risk of asset loss, which greatly enhances the security of assets.
2. Trading transparency
Every transaction record on ROOTREX is stored on the blockchain, and the corresponding transaction details and fee deductions are also transparently disclosed. Each transaction carried out through R1 protocol is searchable and traceable, and once the transaction is submitted to the chain, it is authentic and reliable and cannot be tampered, which fundamentally put an end to human intervention behavior, such as black box operation, transaction rollback, etc.
3. Strong privacy protection
Different from the tedious registration process of centralized exchanges, ROOTREX does not require registration, and it does not need KYC. As long as you have an Ethereum wallet address, you can use ROOTREX at any time. By this way, users’ personal privacy is perfectly protected.
4. Liquidity sharing
Like ROOTREX, all distributed decentralized exchanges will have access to R1 protocol to enable the circulation and sharing of transaction, providing users with better transaction depth and stronger asset liquidity.
5. Smooth experience
ROOTREX’s innovative separation of order matching and order execution makes it possible that the completion of orders is done in the background, and increases the transaction experience of decentralized exchanges to the level of centralized exchanges.
6. Trade fairness
ROOTREX completes order matching in the background, and can perfectly execute the principle of first order first trade. ROOTREX uses the smart contract to realize the trading mechanism of decentralized exchanges, which effectively eliminates the common malicious behaviour of increasing GAS to make the order, and ensures the fairness of transactions.
This week, R1 back-end submitted code for 97 times, ROOTREX webpage submitted code for 952times, ROOTREX mobile submitted code for 16 times.
[R1 Optimization] Deep full and incremental data additional version number
[R1 Optimization] Added order status Socket push
[R1 Optimization] Added one-second creation of new transactions to background
[R1 Optimization] Currency conversion cache
[R1 function] Completed 90% of the API interface of R1 management back-end
[R1 Bug Fix] Fixed the trade limit calculation problem for transactions on non-ETH situation
[R1 Protocol Function] Added API document page and entry
[R1 Admin Function] Completed login function
[R1 Admin Function] Introduced rich text editor
Web version front-end:
[ROOTREX Web Optimization] Added setting button for top navigation bar merged skin, language and currency setting
[ROOTREX Web Optimization] Optimized the acquisition and processing logic of the current pending order
[ROOTREX Web Optimization] When entering ROOTREX for the first time, the user’s browser language is set as the display language by default
[ROOTREX Web Optimization] Optimized the display logic of the price change of transaction pairs
[ROOTREX Web Optimization] Adjusted the number of lists displayed per page
[ROOTREX Web Bug Fix] Fixed the issue that data loading error may occur during weak network
[ROOTREX Web Bug Fix] Fixed the display error when clicking 100% buy without filling in the price in the transaction page
[ROOTREX Mobile Function] Different transaction pairs have their own deep merge digits
[ROOTREX Mobile Optimization] Announcements and other interfaces request corresponding contents according to the current language environment
[ROOTREX Mobile Optimization] Logic optimization of the price change of transaction pairs
[ROOTREX Mobile Bug Fix] Fixed the error reporting issue when take an order
[ROOTREX Mobile Bug Fix] Fixed the issue that the price of the current transaction pair is not updated in time after taking an order
[ROOTREX WEB Use Case Execution] Completed cycle 1 of the transaction-related function test
[ROOTREX WEB Use Case Execution] Completed transaction-related browser compatibility and multi-language test
[ROOTREX WEB Use Case Execution] Completed transaction-related weak network test
[ROOTREX WEB Use Case Execution] Completed the regression test of the transaction fee configuration
[ROOTREX WEB Script Design] Completed 30% of the web platform automation framework build
[ROOTREX Mobility Use Case Execution] Completed mobile end function test
[ROOTREX Web Use Case Execution] Completed cycle 1 of the non-transaction-related functional test
[ROOTREX Web Use Case Execution] Completed non-transaction-related browser compatibility and multi-language test
[ROOTREX Web Use Case Execution] Completed non-transaction-related part of weak network test
[ROOTREX WEB Use Case Execution] Completed the web test after RNT as a base token (non-transaction)
[ROOTREX WEB Use Case Design] Completed 90% of the design of mobile terminal function test case (non-transaction)
[ROOTREX Web Use Case Execution] Completed 90% of the execution of mobile terminal function test case (non-transaction)
[ROOTREX Web Front-end Performance Test Case Design] Completed 40% of the performance and progressive web application
[ROOTREX Web Front-end Performance Test Case Execution] Completed 80% of home, commission, commission history, my assets and asset history
[ROOTREX Web E2E Use Case Execution] Completed 20% of E2E test of RNT as a base token
[ROOTREX Web Use Case Execution] Completed 10% of the daily build of the interface automation test
[ROOTREX Web API Performance Test Script Design] Completed 80% of the script writing for bulk transfer between wallets
[ROOTREX Web API Performance Test Script Design] Completed data configuration of the performance test
ONEROOT upholds the concept of win-win, aiming to build business infrastructure based on consensus agreements, and co-build a shared economic ecological system that is more suitable to the characteristics of the digital asset era with all parties. To be more specific, ONEROOT hopes to reach a consensus among all co-builders of digital asset ecology, co-constructing an open, peer-to-peer blockchain information data platform, as well as facilitating the full circulation of the industry resources. ONEROOT also provides information, investment, trading and liquidity solutions for the co-builders by constructing digital asset infrastructures, which facilitates more external resources to enter the industry and create a win-win, sustainable blockchain economy.
Official website: https://www.oneroot.io