HubDex Exchange Decentralization Function Description
Author: Dr. Liang Wuwei
Originally published at 00:15 on March 04, 2022, Weibo of Dr. Liang Wuwei
The previous Coinxp trading public chain and decentralized exchange HubDex program development and source code library overview shows the source code library and related development records of the coinxp and hubdex projects. This article combines the HubDex DAPP user interface and application instance to introduce how HubDex uses the characteristics of blockchain to ensure that the asset accounts and transactions are open and transparent and cannot be tampered with.
1. The decentralized attribute of HUBDEX determines that it is more advanced than the widely recognized centralized exchange or the Internet giant platform in the current world
It is understood that Wuxi Public Security has accused the “CoinXP technical team that can modify HubDex background data” to “manipulate currency price and transaction volume”, and the technicians are led by Wuxi Public Security’s question. You can modify the background data “. However, this cannot be done from the design of HubDex’s underlying mechanism based on the underlying mechanism of the blockchain.
First of all, even if the technical team can be modified, it can only modify a ledger, and the essence of the blockchain is a decentralized distributed ledger or database, the ledger and data are stored in each node on the blockchain, the node of the node Betal status is equivalent. HubDex began to design nine nodes, and nine nodes were running, and as the nodes were dispersed and increased, and the transparency of the block browser instantly checked. Essence
Secondly, the processing of each transaction on the blockchain has an encryption algorithm and a consensus mechanism. All transactions and all blocks are intertwined through the hash -Canadian algorithm to generate a serial hash value (digital fingerprint). Due to this technical characteristics, even if there is only one running node, any subtle changes will cause transaction data to be unable to encrypted verification, so each transaction of the user cannot be tampered with without being discovered.
The blockchain does not directly bring absolute decentralization. It is just a tool that can be used for decentralization. In the process of achieving the impossible triangle of the blockchain, CoinXP implements step -by -step implementation, efficiency and security. Hubdex based on the Coinxp public chain has better than the centralized exchange from the technical architecture design and implementation roadmap. If Wuxi Public Security will “technical teams can modify the background data” as a “guilty” crime “evidence”, then all central exchanges and large platforms in the Internet era can be accused of “technical team can modify the background in the background in the background data”.
2. CoinXP public chain solves the innovative professional trading chain of cross -chain transactions and high -performance (TPS) through blockchain, retarded signature and other technologies
The CoinXP public chain is based on the EOS blockchain graphene technology. It will account for asset accounts, order matching and settlement records on the blockchain through a series of smart contracts to ensure the fairness, security, and transparent of the transaction. A cross -chain assets are achieved through independently designed and developed decentralized prophecy machines and assets based on the asset -based assets. At the same time, it provides an efficient and stable underlying architecture, public interface, and graphical interface modules for ecological participants, which greatly reduces the development and operation and maintenance costs of exchanges and DAPPs.
CoinXP is characterized by a public chain:
1. Coinxp public chain is a distributed ledger with open, transparent, and multi -node consensus. No one can check all the data through the block browser without permission;
2. Anyone and organization can participate in the consensus, data verification and writing block through running nodes. It can be found from the Coinxp node investment promotion book that its node participation rules are like the mainstream public chain (such as Solana and EOS). As long as the server hardware meets the basic requirements and participating in the pledge rights, they can compete and become consensus nodes. On February 22, 2019, the CoinxP Development Team publicly published the “Deployment Secure and Highly Available Block Producers on AWS With Kops” to explain the deployment of BP nodes;
3. There are already 9 consensus nodes in the coinxp public chain, and with the growth of the community and the increase in the interest of users’ participation in operation, more nodes will be added to further improve the degree of decentralization. The ultimate goal is to achieve 21 nodes or more of EOS and Binance smart chains. CoinXP’s outlet node (Producer) is displayed as BPA, BPB, BPC, BPD, BPE, BPF, BPG, BPI, BPI in the HubDex homepage and block browser. Later A, B, C, D, E, F, G, H, I are node numbers, respectively.
As for, CoinXP issues coins on Ethereum, and it is not a public chain for launching CoinXP. On the contrary, this is the conventional practice of the global mainstream blockchain projects, and many mainstream projects are issuing coins in Ethereum. Both Binance (BNB) and EOS were issued in Ethereum in the early days, and later issued coins on their public chain after mature and stable in their public chain. The most powerful public chain, Solana, is also issued on Ethereum. This website (https://ethereumprice.org/tokens/) lists the digital currency ranked among the top 100 market value issued on Ethereum, including some public chain and side chain projects.
In 2018, after the establishment of CoinXP, legal compliance was strict and did not do ICO. Issuing tokens (CXP), raising virtual currencies (Ethereum) from professional investment institutions with KYC for private equity financing. HubDex’s platform currency (HUB) is similar to a decentralized exchange equity voucher. Investing and holding HUB has the right to govern the governance and handling fees for HubDex. Real blockchain technology, and mature exchanges profit models, whether it is Coinxp or HubDex’s tokens, does not constitute a “air currency”.
3. HUBDEX is an open and transparent exchange based on the coinXP public chain
HubDex was built on the decentralized CoinXP trading public chain blockchain from the beginning. All trading activities were completed by smart contracts on the blockchain, and all transaction data were stored on the blockchain. The attributes on the blockchain itself determine that all transactions and data on the blockchain are open and transparent. Each block verifies all the blocks of the previous blocks through the encryption algorithm to ensure that the data cannot be tampered with or fake.
HubDex provides a block browser on the homepage (see Figure 1). Any user can via a block browser (see Figure 1) to view all transaction information from the first transaction (see Figure 2). The coinxp trading public chain starts from Hubdex operations. Every 0.5 seconds have a node generating a new block, which has generated 113,674,160 blocks. These blocks have preserved all operations or transactions (Transaction) records since the beginning of operation. Users can not only verify their assets or transactions through the block browser, but also view the assets and transaction records of all other users. This decentralized function determines that the exchange cannot modify the user assets, because from the user account generated to each deposit, the currency withdrawal, the transfer currency is recorded on the open and transparent chain. In the same reason, the exchange cannot forge assets or modify trading data.
Note 1: All tasks or actions in the blockchain are decomposed as the most basic operation called Transaction (handling, handling, transaction [transactions in a wide sense, not only financial transactions]. This concept is the term from the database, which refers to the most basic operation, either complete, or not executed at all, and cannot be in a state of semi -completed. The most common transaction of blockchain is to transfer money from one user to another, but for the blockchain that supports smart contracts such as Ethereum and CoinXP, the operation of performing a smart contract is also a transaction.
4. Comparison of HUBDEX block browser and the world’s most mainstream public chain (Ethereum and Bitcoin) block browser
The block browser mainly displays two pages: (1) the homepage of the block browser, and (2) a single transaction record page. From the comparison in the table below, it can be seen that the block browser of HubDex is exactly the same as the content displayed by Bitcoin and Ethereum block browser. Because CoinXP’s function is mainly implemented through smart contracts, its single transaction records usually include smart contract information in addition to basic information, which is also consistent with the Ethereum smart contract transaction records. Because Bitcoin has a weak smart contract and is not commonly used, the transaction almost only includes basic transfer information.
- As a reference, the Taipeng block browser below: Show the list of blocks (blocks) and transactions
As a reference, the screenshot of the Ethereum block browser below shows a detailed detail of the transfer of 0.01162 Ethereum transaction
2) As a reference, the Bitcoin block browser in the figure below: Show the list of blocks and transactions (blocks) and transactions
As a reference, the screenshot of the Bitcoin block browser below shows a transfer amount of 6.45803152 Bitcoin transactions.
3) The following series of HUB block browser screenshots show how users view various transaction records. Each transaction (Transactoin) records generally include data information information about block numbers, outlets, transaction types, transaction accounts or address information, and transaction amounts.
HUB block browser: query the transaction record of a single user “CXPVXJWZZ”
HUB block browser: user request to generate the transaction record of USDT address
HUB block browser: allocate the USDT address to the user’s transaction record
HUB block browser: Use 345.608549 USDT to buy 185.911 HUB coins for buying transaction records
HUB block browser: user requests a TRANSACTION, amount: 2,044 USDT
HUB block browser: User requested a TRANSACTION, amount: 4081.5 HUB (Note: HUB coins are issued on the Ethereum chain. After the proposal can be kept, you can also go to the largest decentralized exchange Uniswap transaction)
