We are months away from the 10th anniversary of the first cryptocurrency exchange, the now-defunct BitcoinMarket.com , where the first Bitcoins were traded at $0.003. The landscape has radically changed, as technological breakthroughs and a few stumbles along the way (Mt. Gox exchange) have contributed to the maturing of the crypto industry.
Exchanges have evolved to a new breed, featuring decentralized functions, native tokens, crypto derivative products, and even their own blockchains. Hybrid exchanges definitely seem to be the new trend in the crypto exchange market, as they combine the best of both centralized and decentralized technologies.
One of these exchanges is Tokens.net , which has successfully combined the speed and scaling of centralized technologies while implementing the security and transparency of decentralized technologies.
The trading volume on the Tokens.net exchange is proven through smart contracts and is 100% transparent. Fake trading volumes have been a recurrent problem that has plagued even some of the major exchanges in the industry. By completing eradicating the possibility of fake volume, Tokens.net becomes an example for other exchanges to follow.
The Tokens.net platform has its own native token, DTR (Dynamic Trading Rights), which is part of the mechanism that ensures the transparency of the trading volume. Not only that, but DTR is also used to pay for all the trading fees on the platform. The DTR token is burned periodically in Destruction Events , increasing in scarcity and in value for every burn.
Tokens.net is in a partnership with Bitcoin.com and Tokens.net exchange was a facilitator for first SLP implementation of $GOC from ERC-20 token to SLP, the new token system enabled by Bitcoin Cash smart contracts. With built-in support for light wallets, all tokens created through SLP will enjoy the benefits of efficient and cost-effective value transfers enabled by Bitcoin Cash blockchain.
An interesting feature of the Tokens.net platform is the voting system . Using another token, DTRvoice, the platform enables users to vote every 10 days which decentralized cryptocurrencies they wish to see added on the platform. With its own set of rules , the voting system is a progressive feature included in the Tokens.net ecosystem.
Available for both iOS and Android, Tokens.net also has a simple and easy to use mobile app . Very similar to the Tokens.net desktop version, the mobile app is secured with Face and Touch ID features. Another interesting service Tokens.net offers is the public API. It allows users to retrieve information like order books, trades, tickers, and even voting information.
Tokens.net offers its clients to enter the cryptocurrency world from traditional currencies via digital banking infrastructure provider Banxa. Fiat gateway on exchange has industry competitive prices with 0% for bank transfer and 1.99% for credit card purchases. Fiat currencies accepted as a form of payment are Euro, British pound, US-Dollar, Australian Dollar, Canadian Dollar and Singapore-Dollar.
Tokens.net is constantly improving its platform , adding new functionalities and trading pairs periodically. Just this March they enabled Collecting Dust for the smallest units of cryptocurrencies which amount is too low to place an order because of minimum order size. Dust gets converted into exchanges’ native DTR every night. While just last September, the platform added bigger features such as crypto loan services through the DTR token and made the market making bot free and public for users. Although a relative newcomer to the space, Tokens.net has established itself at the forefront of technological and financial progress. It is part of the new breed of exchanges that will take the crypto industry to the next evolutionary step.