ORXCASH - DECENTRALIZED CRYPTOCURRENCY PLATFORM
ORXCASH is a fully decentralized platform that includes a decentralized browser-based decentralized cryptocurrency wallet, decentralized cryptocurrency exchanges, and decentralized cryptocurrency IEO launch platform .
WHAT DO YOU MEAN BY ATOMIC SWAP?
ORXCASH Wallet is a completely decentralized cryptocurrency wallet which supports Bitcoin, Ethereum, ORX and some popular ERC tokens, ORXCASH Wallet is a unique wallet which features a truly peer-to-peer coin-coin and coin-token exchanging feature, this feature is powered by the ‘Atomic Swap’ technology, which is just another way of explaining the act of combining multiple blockchains into a single interface for users to directly interact and exchange coins with one another.
ORXCASH supporting p2p BTC ⇋ ETH and BTC ⇋ ERC20 Token swaps via Atomic Swaps, ORXCASH does not store your data, keys or coins. It operates directly on your browser with no software or plugin installations and downloads required.
You’re able to store your crypto assets without any fees, your private keys are encrypted and never leave your device. You fully control your funds.We do not store any information about you or your account and private keys. It is your responsibility to save your private keys. Once lost, your wallets and coins will be lost forever and it cannot be retrieved.
WHY SHOULD I USE A DECENTRALIZED?
Over $1 Billion+ were lost up until today as a result of hacking incidents on centralized wallets and exchanges. Transparency is never always guaranteed with centralized services. Hence, many avid cryptocurrency users are quickly shifting away from centralized services to decentralized/non-custodial platforms.
Another reason is the hectic fees involved with centralized services. Market makers/takers are usually charged around 0.1% for each exchange activity and there are deposit/withdrawal fees involved. Remember, we are not here to sell anything and we charge 0 fees for any of the services we offer. We have simply created this decentralized wallet + p2p exchange because we are passionate about bringing solutions to the existing problems within the industry. By using Bitcoin.js, web3.js and the libp2p library in IPFS, we allow users to seamlessly swap coins and tokens (cross-chain) directly with one another without any 3rd parties involved & without any fees involved.
Many centralized services additionally require you to complete KYC as funds are received directly into their wallets. We do not require users to verify their identifications as we do not handle your funds nor do we store your data anywhere with us. Nobody can freeze or suspend your account or funds and prevent you from performing transactions. It’s the way it should have been and will always be.
WHICH COINS CAN I ACTUALLY USE FOR 'ATOMIC SWAPS'?
- Bitcoin ⇋ Ethereum or ERC20
- Ethereum ⇋ Bitcoin
- USDT ⇋ ERC20 Tokens
- ERC20 Tokens ⇋ Bitcoin or USDT
Swap Support for BCH, EOS, TLOS are coming soon.
HOW DO 'ORDERS' ON THE 'ORDERBOOK' WORK?
The orderbook itself is decentralized as we keep no records of users and no data on our servers. Each user stores orders and sends them in the form of data to other users via the IPFS pub sub network – which is based on the principles of IRC (Internet Relay Chat), an application-level protocol for real-time messaging.
How are orders created?
1. The user selects a pair in the interface and indicates the amount he/she wants to sell (amount should be available on the wallet).
2. User’s browser creates a message based on the protocol, signs it with the user’s private key (for identification) and sends it to the IPFS pub sub network
3. Other users receive this message via their browsers and adds the order to their local copy of the order book.
4. If someone wants to execute the order, this message is sent directly to the creator of the order only.
ORCASH WEBSITE : https://orxcash.com