What is the exchange union?
Exchange union is a "decentralized network" that connects various digital asset exchanges worldwide. The team is working on a mission to solve the most important issues of cryptography - acidity
Most investors have experienced this first time: Find out which digital assets you like and want to invest. However, there is a handful exchange of currency available. Above that, you can use Bitcoin or Ethereum for trade only for it. It sometimes completes hours-long process with multiple manual transfers at least two exchanges.
And, the significance of Advaita is the problem
The Exchange Union connects order books from different exchange to bring you instant, believable businesses for a faster price and overall improved trading experience.
In this exchange union guide, we are going to cover:
★How does the union union work?
★Execution Token
★Exchange union team and ★progress
★Trading
★Where to buy XUC
★Where to save XUC
★Conclusion
★Additional Exchange Union ★Resources
How does the union union work?
The Exchange Union team describes the platform as a "meta-exchange" because they are building it on the level of existing centralized exchange. It is an exchange of effective exchanges. To do this, the project uses the popular second level scaling solutions, such as:
★Payment channels
★Nuclear swapes
Payment channels
Payment channels provide an instant way of transferring off-field of digital resources between the two parties. Transaction is only recorded in Blockquan when the payment channel is first opened and it is closed. You can think of it as the update of the balance on both ends of the channel for each transfer. Once you close the payment channel, both parties will receive their respective final balances.
Payment channels dependent - a dispute is automatically resolved through cryptography. And, depending on the blockcoin itself as the exchange, protected by blockcoin moved using them.
Bitcoin's Lightning Network and Atream's Raiden Network are two of the most popular examples of payment channels.
Exchange union has been used to connect the payment channels in the hashed Timelock contracts (HTLCs) exchanges. Through this agreement, the platform allows XU Nux to set up trust-less intermediaries to route routes to multiple groups through player channels. It prevents exchange of money from every participant on the network to open a payment channel. Instead, they can use a channel root to facilitate the transfer of their final destination.
For every platform participating in the Exchange Union, there should be an X-ray node, and for each digital asset, at least one other exchange must be linked to the payment channel.
Nuclear swap:
A trade always covers two transfer payment channels. Because of this, there is an inherent risk of unexpected behaviour of one party. After taking part of the trade, the first party can not simply transfer their funds to another group. Through nuclear swaps, it has crypto logically confirmed that both aspects of the trade will be completed successfully. This exchange union makes safe and faithless trading.
The nuclear soup uses the corrected HTLC to enable it to trade on a paid channel. For example:
At Sally Exchange, Atmumu wants to trade his Lightkayen for Classic.
Bob wants to make his Etherem classic trade for Litecoin at the exchange.
The exchange sends the Sally Fund to Exchange B at a Litecoin payment channel.
Exchange B Atremom sends Bob's funds from the exchange of classic payment channels.
The unique HTLC guarantees that both aspects of the trade are successfully completed
The Lightning Network is currently living in Bitcoin, Light Coin and several other chains, and Raiden Network supports all ERC20 tacons because you can already swap a significant amount of digital resources in this method.
Supply and distribution
Total 3, 000, 000, 000 XUC tokens are available only with circulation 65,000,000 The union of the exchange was not an ICO - a rareness these days. Instead, 60,000, 000,000 Execution Token (2%) for the project was sold to private investors. Minimum distribution:
Exchange union team and progress
Team
James Wai (CEO), Terry Calvers (CSO), Mikel Wang (Principal Blockchain Architect) and Kylian Rice (Product Director) Exchange Union management team have some of the impressive posts in their rematch of the group's extensive blockchain experience.
Oo is the founder and chairman of the Digital Finance Group Board - the world's leading blockchain focus business group. Wang is officially the CTO of BTCCI and a major solution architect at Ericsson. Before Rousseau P.O. There was a pioneer digital wealth wallet.
The team has also been given some impressive names. JavaScript, Mozilla Firefox's creator Brendan Eich and bold browser (bit token), a lead adviser. Other advisors run or are involved in popular trading platforms such as Yukokin, Repo, Okakein, and Crankan. This group should be good for the group when integrating with the exchange.
Progress
The project is still relatively comparatively to its infant mortality - at the beginning of the third quarter of 2017. This year (2018) the team will publish technical specification in the second schedule and will open the test net on 1st June, 2019.
Competition
There are numerous blockchain projects to address the incomplete problem. Trying to solve this problem by giving a new example for the developed Exchange Protocol Exchange like 0x and Kyber Network.
QASH is another similar project that combines a number of orderbooks into numbers with their unique Milling Algorithm.
The Exchange is the unique group that is working to integrate with already established exchanges. One of the only platforms to use payment channels for trades Developed exchanges like 0x, Etherdale, and Kibara use nuclear swap, but not the payment channels. That is why they tend to be slow and / or more expensive
Trading
Execution Token starts trading at the end of October 2017, so there is not much trading data for analysis. The price is almost impossible, around $ 2 to less than 00 (~ 0.00028 BTC) a higher 00 (~ 000 000 BTC) above $ 17. Recently, prices seem to have settled between the $ 8- $ 9 range.
It will be difficult to predict price movements until the platform is nearing, but there are some things that can affect it. The price of the key items can rise up to the milestone announcement of the development fair and the increased use of the network.
Conclusion:
The exchange union connects existing exchanges with payment channels to bring more liquidity for the cryptoconance ecosystem. Although the project is relatively new, the team behind it and the advisor has a lot of experience in the block space.
Like most other decentralized exchange central projects, the exchange union is working directly with the centralized exchange to integrate their technology. Stay in search of this year because the team started developing their products and welding. You can stay up to date with all Exchange Union news and announcements through their blog.