Block Collider has been reportedly working to on a decentralized exchange for a quite some time. The project is now said to be in the final stages and is due for launch in the next few weeks.
Blockchain and cryptocurrencies became famous due to their innovative approach and uniqueness. However, the two qualities seem to have disappeared from the distributed ledger space over the past couple of years.
This is exactly where Block Collider excels. Borderless unique as compared to other decentralized exchanges. For starters, the fact that it comes with its own blockchain is in itself uncommon. Add to that its ability to perform cross-chain transfers, and block times that are three times faster than Ethereum, with no limits on order size, and Borderless would definitely emerge to be way different from the competition.
The crypto market, which continued to tumble throughout 2018, has seen a resurrection ever since Bitcoin broke its six months long losing trend in February this year. The bears, it seems, are finally leaving the market. Last year’s downfall was kind of a reality check for market elements, indicating that over speculations will cause the market to fall the moment digital tokens become stupendously expensive.
In spite of the fact that the market was at a slump, several giant corporations stepped in the realm of cryptocurrencies. One such prominent name was JPMorgan, which became the first bank in the United States to launch its own cryptocurrency. Social Networking behemoth Facebook will also be launching its own stablecoin aimed at cross-border payments.
Block Collider managed to acquire $7 million via its Initial Coin Offering (ICO). The project is now operational, with its Multiverse block explorer showcasing the blockchain’s current state of affairs. Apart from this, the Block Collider network and its Multiverse explorer have certain other traits up its sleeves, like potent interoperability. Several projects are expected to be launched this year, which will eradicate the hostility towards inter-blockchain communication. Cosmos and Polkadot are two other platforms, apart from Block Collider, which is leading the cross-block movement.
Borderless Exchange will be a high-speed decentralized exchange, which is aimed at a higher degree of decentralization than established crypto exchanges, like Binance Exchange. To attain the desired decentralization, the Borderless platform will not have validators or centralized oracles to act as gatekeepers. Contrastingly, Binance Exchange has 11 validators, all controlled by the exchange itself.
When launched, Borderless will facilitate cross-blockchain transfers between Bitcoin Core, Ethereum, NEO, Lisk, and Waves. It will reportedly have a simple, easy to use interface and will have no restrictions on order size or trading volume.
Block Collider co-founder Arjun Raj stated that users simply need to download the application and upload their wallet. However, nothing stored or sent to a centralized server, he added. Jain further added that when users upload their wallets, it gets encrypted locally, so that whenever they submit a transaction, they will not be required to type their private key.
On the face, Borderless is quite similar to a conventional exchange, having options like order book that displays buy and sell orders, and other conventional heads. In addition to these common options, it has a few unique settings like the ability to set the maximum amount of collateral for the trade, which uses NRG, the native currency used to reward miners, as its denomination. The platform also houses a secondary currency, called Emblem.
Jain claimed that Emblem allows miners to expand their block sizes, which in turn enables them to earn more energy. He also added that emblem would act as a hedge against decaying hardware, tackle the issue Bitcoin maximalists have regarding the correct block sizes.