It's the purest form of a Decentralized Exchange and the most decentralized DEX currently known to man.  Other projects have cut corners to building a "DX," which has rendered them centralized in some form or fashion.  I think one of the main reasons other projects have cut said corners is because it's very difficult to properly build a true DX from scratch and average users aren't familiar with the technical issues and major security risks related to cutting corners.

every single one of you are pajeets except for Flux

one of you @awakpane even answered the question twice

By far the safest method which also provides a layer of anonymity since there is no KYC/sign-up/accounts is Blocknet's Block DX exchange.  The DX showcases pure atomic swaps directly from your core wallets which is the safest most decentralized method currently known to man.

Check it out as people review the orderbooks regularly looking for orders to take:

https://blocknet.co/
https://blocknet.co/block-dx/


Also, this DX is highly recommended for any parties out there looking to do planned OTC swaps vs something high risk like Escrow trades with admins overseeing the process.  There are over 100+ compatible coins on the DX so whatever you're trading is bound to be compatible.

You pay a fee to the service node who makes sure no duplicate utxo's exist with regards to your counterparty's collateral so that the decentralized orderbook isn't bloated and taken advantage of - the trade itself is strictly a P2P atomic swap and the fee transaction has absolutely nothing to do with the entire atomic swap process.  The fee is only charged to the order Taker too, so you don't need to have any BLOCK if you make orders, only if you take orders.

Your personal definition of an atomic swap is clearly wrong.

The entire exchange is completely decentralized so Blocknet itself can't do anything to block access to people to swap with.

As was mentioned above by trucie months ago, Blocknet has 100% real atomic swaps on their Block DX exchange (requires full nodes in order to create and verify the transaction scripts you're referring to for now... a lite client is currently being developed though that'll leverage the XRouter network to do this vs full nodes).

For example, here are some links where you'll see the movement of funds to and from the p2sh addresses that are created as part of the atomic swap algorithm:

LTC (order maker) traded for BLOCK (order taker):

1.  Maker deposits LTC into p2sh https://chainz.cryptoid.info/ltc/tx.dws?36986143.htm
2.  Taker deposits BLOCK into p2sh https://chainz.cryptoid.info/block/tx.dws?2476278.htm
3.  Maker spends BLOCK from p2sh, sharing secret https://chainz.cryptoid.info/block/tx.dws?2476283.htm
4.  Taker spends LTC from p2sh with secret https://chainz.cryptoid.info/ltc/tx.dws?36986148.htm

This is so incorrect it's hilarious.

But on the topic of safe DXs out there, Blocknet is extremely safe since it allows you to use actual full node wallets where you have direct access to the entire blockchain to verify DX transactions on top of owning your private keys.

Full node trading maximizes security and eliminates risk as you are confirming utxos, raw transactions, etc involved in trades directly on your own fully synced node.

>Multicurrency Wallet

Where is this wallet?  I can't find it anywhere.  Regardless of such this is already capable on Blocknet - there is a group right now utilizing its XRouter technology that have built a working prototype which will be finished soon.  However, anyone is free to make their own - the Service Nodes on the network are running full nodes of blockchains and provide access to all the necessary calls needed in order to create a lite client.  As I hinted at before this is nothing unique for XSN.

>Atomic Swaps

Yes Blocknet utilizes Atomic Swaps and has a current working product you can download and use: https://blocknet.co/#downloads  I can't seem to find XSN's DX... is it working yet?

>Lightning Swaps

If correctly written, these are also atomic swaps.  The difference here is one is on the LN and the other isn't.  Lightning is all based on channels.  "Superior" is highly subjective - there are many limitations and added risks when dealing with channels because within the channel the activity isn't recorded to the chain... only once the channel is closed does a transaction post to the respective chain.  The way the channels are interconnected also poses issues for traders which can rack up fees considerably as your transactions tries to find the best route, so they're definitely not always cheap or fee-less!  Channels can also become centralized based on how the network is currently designed, which makes them targets for foul play.  I'm not saying it's bad to support LN - it's actually good practice to support as many features as possible, but in lightning's case users should be aware of the risks involved as its security guarantee as far as trading is concerned can't be compared to a pure CLTV swap that records to the respective chains during and after the exchange.

Sounds like XSN is not only ripping off Blocknet, but are also trying to reinvent the wheel for whatever reason and are subsequently wasting time doing so.

There are already plenty of projects doing these things, Blocknet to name one.


Liquidity Strategies for DXs are quite simple:  start providing liquidity.  It's unbelievably simple to make and use market making bots for DXs too, for example: https://github.com/blocknetdx/dxmakerbot

However at the end of the day, unless people finally commit to using DXs and start actively trading on them, we'll continue to have these chicken and egg liquidity discussions.

Well said. This is precisely what Blocknet has done with their DEX.  If you initiate a trade with confirmations, it's literally 100% bullet-proof.  No aspect of the exchange process whatsoever can compromise your funds... ever.  Your client verifies and confirms terms and trade amounts by checking the raw transactions themselves (in a CLTV atomic swap) and you're always in full control of your funds.

What's the reason in being in this space if we're going to appease to the current (problematic) status quo 

Seems rather counterproductive if you ask me 

Additionally though, centralized entities with distinguished reputations are free to run their own Service Nodes with custom plugins and provide services to customers who only wish to deal with them specifically.  This allows them to have the freedom to do as they please without needing to worry about the network upkeep, security, and overhead that is provided by Blocknet.

This isn't true decentralization when 1 entity controls the hosting across numerous cloud servers.  When you say gateways, are you referring to original endpoints providing data or simply just a gateway to Quant's cloud servers?


There is certainly no drawback as developers are free to do as they please whenever they want to - there is no waiting, permission, or green light involved whatsoever.  It most definitely is providing 100% interoperability as assets and information alike are enabled to interact and move freely on any dApp imaginable that can be built leveraging XRouter.

Quant runs centralized servers that users have access to... Blocknet is decentralized across hundreds of "Service Nodes" owned and operated by random people and projects around the world.  This maximizes uptime as well as security through decentralized consensus per the user's liking.

Blocknet's XRouter also allows Service Nodes to create and offer custom API endpoints for users in a completely permissionless fashion - if you were wanting to provide the ability to launch an asset on the Syscoin blockchain, with XRouter you could spend 2 minutes creating a custom plugin to provide this service via your own Service Node.  For Quant, you'd have to ask the Quant project to add this feature to their product offering.

Blocknet being fully decentralized is one of the major differences... and an extremely important difference at that.

Chainfiles are now available on our Github:

https://github.com/BlocknetDX/blocknet-blockchain-bootstrap/releases

How's this for a true DX UI/UX (Blocknet's Block DX):

Just chiming in here.  UNB is currently compatible with Blocknet's Block DX... however I'm not sure if you guys are still experiencing extremely long block times.  The last I checked, your difficulty adjustment here is still quite a ways away... is there a plan to fix this in the near future?  The reason why it's a burden to a DX is because you won't be able to retrade funds until they attain at least 1 confirmation... it also opens the door to issues where anyone buying UNB on our 0-conf trading could run into problems too if the mempool is lost as peers here and there go online/offline.  Looking forward to hearing back from you guys here at UNB!

It sounds like you need to build on the Blocknet Protocol.  It hits all items in your list and you can build your own white label DEX on it.

1.  It is fully decentralized and can't be shut down by any government agency.  The order book is validated and broadcasted by a decentralized network of community owned and operated service nodes running full blockchains to validate utxos being used in orders, effectively maximizing security (absolutely no centralized entity is required for the exchange to operate).

2.  When an order is accepted, the trade is executed p2p via an OP_CHECKLOCKTIMEVERIFY-based trustless atomic swap.

3.  The project is open source, the Github repo can be found here: https://github.com/BlocknetDX/BlockDX ... contributed by both anonymous and non-anonymous devs (if your fear with the non-anonymous contributor is related to the blockchain being able to be squeezed by regulatory bodies: no contributor or entity for that matter has total control over the blockchain project and the blockchain cannot be stopped by any current contributor).

4.  As was mentioned in point 3 and point 1, no government can shut down the exchange because service node operators are completely anonymous and literally spread across every continent in the world (Antarctica too probably  ).  Additionally, anyone can operate a service node with a sufficient amount of BLOCK and the exchange can function with a minimum of one service node.

5.  As was also mentioned in point 3, the blockchain is entirely open source.


Blocknet features a Proof of Stake consensus mechanism utilizing the Quark algorithm.  Service nodes are similar to a masternode in that there is a list that is validated by locked utxo collateral (5000 BLOCK).  The BLOCK token is used as a fee paid to the service nodes in order to trade on the exchange so as to compensate them for the services they are providing to participants in the ecosystem.  The blockchain also features a block reward of 1 BLOCK per minute where 0.3 BLOCK is awarded to the staker and 0.7 BLOCK is awarded to a random service node.  BLOCK is also needed to operate a service node in order to receive trading and protocol fees alike (5000 BLOCK is a required lock-in per service node as was mentioned above).  Service nodes also receive a vote in the governance system built into the blockchain itself.

As I mentioned before, you can easily build your own DEX on the API.  This will allow you to additionally monetize your own exchange after fees are paid to the underlying Blocknet protocol itself.  Doing this will also save you the hassle of launching your own blockchain and creating a brand new ecosystem, and instead allow you to leverage the already existing super decentralization of the Blocknet protocol itself.

All these projects should head over to Blocknet's DX (Discord:  https://discord.gg/2e6s7H8).  Listings are completely free and their exchange is completely decentralized from its orderbook to order matching.  Pure wallet-to-wallet atomic swap trading so your funds are always in your own possession - no middle man or centralized entity/3rd party.

The following link details how to setup a service node: https://github.com/BlocknetDX/blocknet-docs/blob/master/blocknetDXservice-node.md

As for the 20 service node thing, it sounds like you're referring to the "winners" list masternode blockchains use to pick a valid node to receive payment.  In a nutshell, the 0.7 BLOCK reward is paid to a valid service node in the top 20, and once paid, that service node rotates out of the top 20... making the aggregate service node list rolling.

The easiest way to do this is to dump your wallet to a .txt file and then import it into your new wallet.  You can also dump the private keys of each address with a coin balance and import those into your new wallet too.

No - you will receive node rewards with or without running wallets, however you will not collect any trading fees.