The decentralized exchange for Ethereum promises lower commissions than rivals



A decentralized exchange states that its trading commissions are significantly lower than those of its rivals – with a commission of 1% reduced to 0.03% each time they use the platform's native tokens.

Blockonix says its exchange is "the cleanest, most user friendly" on the market right now and offers a cheaper experience than EtherDelta, Idex and ForkDelta.

The platform gives users a way to negotiate Ethereum – as well as digital resources based on Ethereum and token – around the world, and his team says he is "promoting a new wave of payment gateways and exchanges with applications futuristic ". Blockonix does not store any assets in its infrastructure, with all the funds remaining with the user at all times. [19659003] Blockonix says that, unlike other exchanges, it earns zero percent – and all taxes collected through the platform are used to buy back BDT tokens and burn them. This includes the five ETH rights for listing on the exchange itself. Considering that other organizations are driven by profit, Blockonix claims to be motivated by the community.

In an article explaining the logic behind its rates, the platform wrote: "Some of you would start to wonder why we are paying so little to offer a very complex service that requires constant monitoring to ensure maximum security. [19659003] "We have developed the right technology that allows us to significantly reduce our operating costs by keeping our system at the highest levels in terms of safety and functionality." [19659007] A change of plans

Blockonix was formerly known as BitIndia, and that platform was to be an exclusive exchange for Indian crypto enthusiasts.The organization said it had to take the "difficult decision" of rebranding, make the exchange purely decentralized and shift its international attention following the negative response of the government Indian to cryptocurrencies.

As reported by Cointelegraph at the beginning of the The Department of Economics The business said some cryptographic assets could be made legal for use in India – with officials claiming to "categorically deny" that the cryptocurrencies themselves would be used "in any way " in the future.

Most of those who owned BitIndia tokens have now replaced them with BDT tokens – and according to Blockonix, nearly 170 million BITINDIA tokens have been burned permanently, with just over 10 million still in circulation.

The decentralized exchanges create "environments without trust" where agreements are stipulated through smart contracts or atomic swaps instead of passing through an intermediary. This is different from a centralized exchange, in which an organization relies on protecting a client's money on its behalf.

As explained here, decentralized exchanges are attractive to some because they remove a single point of authority – helping to reduce costs and improve levels of privacy and security.

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