ResDEX Demo + Community Q&A
With Resistance CEO & Lead Tech Consultant
Our community is at the heart of this project and for that reason, we decided to conducted two live ResDEX Demos. In the first demo, we invited nine active community members to a private live demo of ResDEX, our decentralized exchange. In the second, we had an interview with Boxmining as seen in the video below.
Our goal was to show the product our team has been diligently building and create an open forum allowing the community to share its questions. The result is the Q&A you see below.
Deliverables & Deadlines
Is Resistance planning to release a new whitepaper?
The team is currently working on a new version of the whitepaper. This will include more information about our governance model. The release date is still pending. You can download our current whitepaper (v1.5) here.
How close is Resistance to offering Ledger support?
We already have the technology integrated with our wallet, and we are working with the Ledger team to review and approve our code. We are aiming to have this completed as soon as the Resistance masternode network is operational.
Are there plans for a mobile version of ResDEX?
At this point, we have no plans in our roadmap to develop a mobile version of ResDEX. Because TOR is not supported, and other privacy features won’t work on mobile, it does not align with our core mission to provide premier user privacy and security. At the moment we have an executable for macOS, Windows, and even a GUI version for Linux.
Are there any plans for a crowd sale or community participation to acquire RES?
Absolutely. We are applying to a number of exchanges to host our Initial Exchange Offering, giving users that wish to acquire RES tokens a low barrier of entry. Also, keep in mind that the community can earn RES coins via Mining, Researching, and running Masternodes.
When will a Linux wallet be available?
It is currently in testing but will be available at the same time as macOS and Windows wallets.
On Mining & Respool.io
How will testnet RES on Respool.io transfer to mainnet RES?
RES in testnet will not be converted nor transferred to mainnet. When we go live, the entire Respool.io system will be reset. It should be noted that contributions that have been made thus far are in fact beneficial for the organizations utilizing BOINC.
When will mining be available to users? Any plans to offer a testnet CLI miner soon?
When mainnet is live, we will provide a CLI miner, but not before.
When ResDEX is launched, will there be an economic difference between mining or using BOINC?
Miners and researchers both earn 30% of the block reward in an equal distribution. For those researching, there is a financial incentive to mine because there is potential to earn more RES. Users, however, can do both at the same time.
Is it possible to pull more data and feedback from Respool.io and BOINC?
Certain information is handled by BOINC, and the rest by the project sites that the mining is being contributed to. At the moment it depends on what data is being requested and if it’s possible to pull through our API. We can look into pulling more data if requested by the community.
Can you mine to the same wallet from multiple computers?
Yes, you can point multiple mining instances to the same address. This is not implemented in the GUI, but is possible from the command line.
ResDEX & Technology
Will there be a beta test?
Tests are currently being done internally, but we don’t want to give out the code before the sale and mainnet is launched. We want to be utterly sure the technology is ready to launch and set up with the appropriate exchanges before releasing.
Are there any plans to limit spam entry/throttling on ResDEX?
There are already mechanisms built in to prevent people from spamming ResDEX. In simple terms, when a buyer commits to an order via a swap, the taker pays a non-refundable DEX fee. In addition, both sides commit a deposit to prevent spamming. So if someone is trying to open a bunch of orders they don’t plan on filling, they would end up losing money.
ZEC is built with C++, ResDEX is built with electron.js, where is Rust being utilized?
Rust is only a small part of the core blockchain code.
Do nodes run on Electrum? Where does Electrum come into play?
The Resistance desktop application and RES do not run on Electrum. When you are running the desktop wallet it starts its own local Resistance full node that you are connecting to — that part is native and keeps you more secure and private. This allows features like TOR to also be utilized. On the exchange itself, you do have the option to use other coins that are enabled via Electrum, or to run native, thus providing more options to the user.
Are there plans to provide charts and/or trading views for more experienced traders?
This feature isn’t a particularly novel technology so it depends on how much demand there is. At the moment it is not part of our core feature set but we will consider it if we have the time before launching ResDEX & mainnet.
Are there any plans to introduce 2nd layer protocols if ResDEX experiences a use surge?
We have masternodes which are capable of communicating peer to peer and potentially supporting 2nd layer protocols. This isn’t a part of our roadmap, but it is possible to add in if demand is high enough.
Will ResDEX report the atomic swap phases through the API?
Yes, there is a streaming API that peers send swap phases through.
How long does it take to generate a shielded transaction?
Shielded RES transactions are completely separate from the exchange. With our upgraded network, shielded transactions take only a few seconds to generate.
Who creates the transaction for an Instant Swap?
During an Instant Swap, RES is deposited as collateral. So if you wanted to trade 1 Bitcoin with the value of 100 RES, you would need 150 RES deposited as collateral to trade that 1 Bitcoin instantly. When you are trading instantly you are skipping the block confirmation stage, so it requires a certain safety mechanism to ensure both parties involved in a trade are protected.
Are there any local web sockets that allow data capture via the exchange?
There are two types of data that are being transmitted. The first is when communicating with the P2P orderbook via the network. The second is when you find the person you are exchanging with, which then initializes the p2p communication websockets.
Is there a programmatic way to access the ResDEX API?
Yes! If you are more advanced and want to interact with ResDEX through script, we have a RESTAPI and RPC API that you can use.
Governance & Economics
How will projects be whitelisted? When will that process begin?
The Resistance team will decide what projects are whitelisted until mainnet. As soon as masternodes are up and running, governing community members via masternode votes will be in charge of deciding what new coins should be listed.
Will Resistance attribute a tiered system for coins or tokens when listing on the exchange?
We currently don’t have a voting system in place that does this but it could be looked at in the future.
When Resistance launches, will the current development team stay on board? Or is it expected that the community continues development?
Initially, the current team will stay on board. We are strong believers in Resistance, but anyone can be a part of the development team, just as anyone has the option to leave if they want. We will open the gates to the community so that everyone can be a part of the platform. We didn’t work super hard for a year for the project to fail on launch. We all want Resistance to succeed!
Will Shyft still be the decentralized KYC provider?
We are currently working with Shyft and plan to continue doing so.
Will a FIAT gateway be operational during the initial coin offering?
The FIAT gateway is operational, but it is important to note that it has its own KYC process. If you want to use the FIAT gateway on ResDEX, it is done through a third-party integration with Simplex. It appears to take place in the wallet, but it is happening on the Simplex server which requires their own KYC process.
Website: https://www.resistance.io (U.S. visitors restricted)
ResPool Mining: https://www.respool.io