JOYSO suggests a hybrid design for token trading, combining the advantages of a centralized exchange — fast and fully-featured — with the advantages of a decentralized exchange — improved security and privacy.
This hybrid exchange (HEX), able to handle all ERC20-compatible tokens, eliminates the need to trust a central exchange with your private key or personal information, reducing to a historical minimum any opportunities for hacking. It takes order placement and order matching off-chain, substantially improving the user experience compared to decentralized exchanges. In brief, the benefits and innovations of the JOYSO model are these:
● All orders are limit orders, giving users the best possible price
● Smart matching is done off-chain, providing fast processing and one-to-many matches.
● Smart matching eliminates security issues like front-running and makes arbitrage by the exchange transparent.
● One-to-many matches merge multiple orders into one transaction, so gas fees are substantially lower than in first generation decentralized exchanges.
● The exchange cannot alter the balance in a user’s account, and has no access to the user’s assets.
● Users do not need to log on to a website; they just sign the bid or ask using their own wallet and send ether directly to the smart contract.
● Users have the ability to cancel transactions up until they are matched and can even lock the smart contract themselves.
● Completed trades are published on the blockchain in a transparent, traceable way.
Compared to its competition, JOYSO has a low cost structure and offers users lower transaction and settlement costs.
For more information about JOYSO :
Website : https://joyso.io/
Facebook : fb.me/joyso.io
