Ninance: A Decentralized Token Exchange Protocol

[Guest Emmanuel]

 

Ninance:

 

A Decentralized Token Exchange Protocol

Blockchains have been revolutionary by allowing anyone to own and transfer assets across an open financial network without the need for a trusted third party. Now that there are hundreds of blockchain-based assets, and more being added every month, the need to exchange these assets is compounding. With the advent of smart contracts, it is possible for two or more parties to exchange blockchain assets without the need for a trusted third party. Decentralized exchange is an important progression from the ecosystem of centralized exchanges for a few key reasons: decentralized exchanges can provide stronger security guarantees to end users since there is no longer a central party which can be hacked, run away with customer funds or be subjected to government regulations. Hacks of Mt. Gox, Shapeshift and Bitfinex have demonstrated that these types of systemic risks are palpable. Decentralized exchange will eliminate these risks by allowing users to transact trustlessly - without a middleman - and by placing the burden of security onto individual users rather than onto a single custodian. In the two years that have passed since the Ethereum blockchain's genesis block, numerous decentralized applications (dApps) have created Ethereum smart contracts for peer-to-peer exchange. Rapid iteration and a lack of best practices have left the blockchain scattered with proprietary and application-special implementations. As a result, end users are exposed to numerous smart contracts of varying quality and security, with unique configuration processes and learning curves, all of which implement the same functionality. This approach imposes unnecessary costs on the network by fragmenting end users according to the particular dApp each user happens to be using, destroying valuable network effects around liquidity.

 

HERE IS NINANCE

 

Ninance is an open protocol for building decentralized exchanges. Ninance operates as a public set of smart contracts responsible for trade and settlement, with an off-chain group of actors aggregating and communicating orders. The protocol is free, extensible, and serves as a standardized building block for decentralized applications (dApps) that incorporate exchange functionality. Its interoperable standards facilitate trustless, anonymous trading. An important improvement over current decentralized exchange protocols is the ability for orders to be mix-and-matched with other, dissimilar orders, obviating the constraints of two-token trading pairs and drastically improving liquidity. Ninance also employs a unique and robust solution to prevent front-running: the unfair attempt to submit transactions into a block quicker than the original solution provider. Ninance is blockchain agnostic, and deployable on any blockchain with smart contract functionality. At the time of writing, it's operable on Ethereum under construction.

 

READ MORE ON OUR WHITEPAPER LINK - https://www.ninance.io/docs/Ninance-WhitePaper-En.pdf

 

OUR MAIN WEBSITE - https://www.ninance.io/