QUANTA chain launches with 300k registrations for December DEX launch
QUANTA reckons it might have found the solution to the scaling problems experienced by decentralised exchanges.
Like most other blockchains, QUANTA Chain is different.
It intends to be the new framework for the QUANTA decentralised exchange (DEX), due for launch in December 2018 and intends to utilise QUANTA Chain architecture to solve a few of the pain points currently afflicting decentralised exchanges.
Specifically, it's hoping to effectively use cross-chain transactions and speedier on-chain order matching at less than one second latency to deliver real-time trading on a public blockchain.
The trouble with DEXs
"QUANTA is on a mission to develop the first public blockchain infrastructure to provide instant liquidity many orders of magnitude faster than existing solutions" said Quoc Le, QUANTA co-founder and CEO. "We predicted that current blockchains were not suitable to built the fastest decentralised exchange and Mr Vitalik Buterin recently confirmed when he said - 'every present-day' blockchain sucks (even BTC And ETH).
"We are building a public blockchain with the fastest order-matching which provides a true alternative to the centralized exchanges which still dominate, and a DEX which abides by the ethos of egalitarian blockchain technology."
In his full comment, Buterin went on to advocate for a switch to proof of stake.
QUANTA Chain also employs a proof of stake-esque variant where wallets containing QUANTA tokens are able to participate in network consensus. It refers to this as a Dual Ledger Byzantine Fault Tolerant (DLBFT) Consensus.
The dual ledger part refers to having separate ledgers for the order book and for settlement. The order book is stored in distributed memory, while the general settlement ledger keeps accounting information for each user.
The general idea seems to be to push information between the two layers as quickly as reasonably possible without breaking everything, while using the dual ledger system to facilitate cross-chain trades.
"Tokens are in development across every prominent vector of innovation, and every economic sector where entrepreneurs are exploring the adoption of a token-powered business strategy," says QUANTA co-founder and director of marketing operations Alfonso Barbosa. "We have the technical expertise and vision within our QUANTA team to deliver a solution which meets the needs of an ever-expanding, rapidly advancing and technologically evolutionary demands of asset exchange on blockchain. We are working with a number of market leading partners to provide the most comprehensive blockchain infrastructure for DEX available today and we welcome all blockchains to partner with us and increase their liquidity."
QUANTA Chain says it already has 300,000 registrations ahead of the launch, so it might have quite an impactful launch by DEX standards. Time will tell whether its infrastructure can deliver.
Disclosure: At the time of writing, the author holds ETH, IOTA, ICX, VET, XLM, BTC and ADA.