Phantasma Chain x NEX
From the beginning we have known that connecting our ecosystem to a trusted exchange would be essential to drive the Phantasma Ecosystem forward and make it as easy to use as possible. Our next partnership is crucial to build our Ecosystem according to the way we envisioned it.
Phantasma Chain is proud to announce our partnership with NEX!
What is NEX?
NEX is a high-performance decentralized exchange and payment platform. By using a publicly verifiable off-chain matching engine, NEX combines the performance and functionality of centralized services with the trust and security properties of blockchain-based solutions. NEX is pushing for the broader adoption of blockchain technology both by engaging with regulators and developing products that offer a simple, intuitive user experience.
Each person will be able to access all of the dApps in the appstore with the Phantasma account, along with its embedded economic system and have login options to websites that support the Phantasma extension to access content and paying for products/services in a secure and easy way. By having a Phantasma account, users can opt for anonymous access and payment to this type of content online, as the only thing that is being provided is the public wallet address (that verifies whether they have access to each content).
To understand how the Appstore and Extension are connected to the main net of Phantasma Chain, please refer to our latest articles: http://bit.ly/PhantasmaEcosystem & http://bit.ly/PhantasmaBridgeToInternet
NEX and Phantasma Chain
Phantasma Chain allows users to pay for and access certain products and services online via the Phantasma Ecosystem. They can use our SOUL token, but we also want to support other popular cryptocurrencies, such as Ethereum, Bitcoin and NEO. We will make exclusive use of NEX to provide this option once our mainnet goes live. By connecting their SOUL account to the NEX APIs, users will be able to purchase products and services with other cryptocurrencies.
When a user makes a purchase with a coin other than SOUL, they are in fact placing an order on NEX’s exchange. Their cryptocurrency of choice will be traded for SOUL, but in the front end this will appear as an automatic currency conversion. Official supported pairs will be announced at a later date.
Our interconnection with NEX will allow less tech-savvy people to use our ecosystem seamlessly, without having to get to grips with an external cryptocurrency exchange. Nonetheless, the process will be completely transparent: for each transaction, users will know exactly how much cryptocurrency is being converted and at what price.
In the future, our partnership with NEX will allow new features to be added to the Phantasma Ecosystem. Make sure you follow NEX’s roadmap progress to stay up-to-date!