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Bithumb launches its DEX days after stakes acquired by BK Global Consortium

Priya

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Bithumb launches its DEX days after stakes acquired by BK Global Consortium
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Bithumb, one of the biggest cryptocurrency exchange platform in South Korea and the world’s leading exchange platform, has launched its decentralized exchange, Bithumb DEX. The announcement was made by One Root on their official blog earlier this week. This comes in the limelight days after the exchange platform’s 51% stake was acquired by BK Global Consortium for $354.09 million.

The decentralized exchange platform will be based on the Ethereum blockchain and will be using One Root’s R1 protocol as a core part of the exchange. The decentralized exchange platform will allow users to control their assets. Along with this, the assets will be stored in smart contracts as opposed to the centralized exchange. This would add on an extra layer of security as the asset would be safe even if the exchange platform is attacked.

Moreover, all the information related to transactions will be recorded on the blockchain. This includes the corresponding transaction details and cost deduction open and transparent, thereby eliminating covert operations.

The R1 protocol, developed by One Root, which acts as the core part of the decentralized exchange will be playing the key role of segregating matching and settlement orders. In addition, the decentralized exchange will be executing the work of matching orders off chain. This would result in the increase of transaction speed and also provide a better users experience in comparison to centralized exchanges.



Furthermore, the decentralized exchange’s order data and liquidity will be shared will all the R1 based exchange platforms. This is noted to be one of the key features of the R1 protocol, based on the concept of win-win and sharing. This would provide higer asset liquidity to traders.

The blog read:

“With R1 protocol as core, different exchanges can carry out cross-regional cooperation, which was defined by ONEROOT team as DDEX. This trading system is significant for the overall ecosystem of Bithumb, and contributes to the establishment of global distributed business system”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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Coinbase is a huge net positive for not just cryptocurrencies, but for the world, says Bitcoin Cash proponent Roger Ver

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'Coinbase is a huge net positive for not just cryptocurrencies, but for the world', says Bitcoin Cash proponent Roger Ver
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Roger Ver, a well-known Bitcoin Cash influencer and CEO of Bitcoin.com, spoke about the controversy surrounding #DeleteCoinbase campaign, where he stood by the exchange. He also explained the reason behind why he does not consider BTC to be Bitcoin, in an interview with BreakerMag.

Coinbase, a leading cryptocurrency exchange platform, recently made an uproar in the cryptocurrency market over acquiring Neutrino, a blockchain analytics firm. This acquisition resulted in the majority of the cryptocurrency space joining the #DeleteCoinbase movement as the Neutrino team was previously associated with Hacking Team. More so, it was further revealed that the acquisition took place because Coinbase’s providers were selling its data to outside sources.

However, while the majority of the space was chanting #DeleteCoinbase, Roger Ver, on the contrary, spoke in favor of the exchange. On his official social media handle, Ver had stated that the exchange has made a lot of contribution towards driving the adoption of the cryptocurrency space and that space should “be grateful despite a few poor decisions along the way”, adding “Don’t #DeleteCoinbase”.

In the interview, Ver was asked whether Neutrino’s association with Hacking Team did not bother him, and the reason behing why he chose to stay beside the exchange. To this, Ver stated that he was “incredibly troubled” with the association, adding that this was a “really stupid mistake”. He went on to state,



“But people make mistakes sometimes, and I don’t think that it was an intentionally bad mistake on Coinbase’s part. Once they saw the error of their ways, they fixed that. And Coinbase has onboarded millions and millions of people to cryptocurrency. I think Coinbase is a huge net positive for not just cryptocurrencies, but for the world.”

This was followed by Ver speaking about the reason behind his belief that BTC is not Bitcoin. Ver has been previously criticized because of the same topic, so much so that there were people who were considering taking legal action against him. This was because of propagation that Bitcoin Cash [BCH] was the real Bitcoin.

On this, Ver stated there were several people who have called him a “scammer” because of this, adding that there were barely any who was up for an argument, instead of name-calling. He also stated that there was a possibility of him believing that BTC was indeed the real Bitcoin, but stated that there weren’t “any arguments that are compelling at this point”. He said,

“I came to those conclusions based on the logic and reason and evidence and arguments that favored those positions. And if someone wants to try and convince me that BTC is bitcoin, even though it’s not a peer-to-peer electronic cash system, I will listen to those arguments and evaluate them based on their merits.”





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