ORYXCASH - CROSS-CHAIN EXCHANGE - SYSTEM QUESTIONS (PART2)

ORYXCASH - CROSS-CHAIN EXCHANGE - SYSTEM QUESTIONS (PART2)


 
ORXCASH is a fully decentralized platform that includes a decentralized browser-based decentralized cryptocurrency wallet, decentralized cryptocurrency exchanges, and decentralized cryptocurrency IEO launch platform .

 

 

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.

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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.

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WHY WAS MY EXCHANGE/SWAP REQUEST DECLINED?

All exchanges are conducted directly with other peers using our platform. Therefore, we can never intervene with your swapping processes & delete orders in any way. The only explanation of why your request was declined is because the other user did not want to perform an exchange/swap with you at this point of time.

Common causes of rejection:
-Your account is not credible (few exchanges = low ratings)
-The other party has found another user for the swap
-The other party does not have enough funds to actually perform the swap

When the order maker & taker are matched, the actual time taken for swaps do not take any longer than 10 minutes (assuming that both parties have enough funds on their wallets). For example, BTC -ETH typically takes less than 40 seconds to receive ETH and up to 3 minutes to receive BTC.

HOW LONG DOES IT TAKE TO SWAP MY COIN?

If you cannot access your wallet because the ‘Bitcoin Node’ is down, use external wallet services such as blockchain.info to import your wallet & withdraw funds. 

 

ORXCASH WEBSITE : https://orxcash.com

PART 3 SOON 

 

 

 

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Pi Ṇ̣̣̣̥ ky LeṆ̣̣̣̥a
Pi Ṇ̣̣̣̥ ky LeṆ̣̣̣̥a

I'm Lena, I'm interested in crypto and blockchain, CMO at ORYX, Follow me around the world. Welcome to my Profile 😍 #Bitcoin #Bounty #BTC #TRON #ORYX #Blockchain #Crypto


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ORYX Official Publish0x Blog, The ORYX project is dedicated to building valuable dApps that solves real world and cryptocurrency issues. We are building unique decentralized apps that offers services from social media networking to payment portals. These applications we are building, are all in one project of what the ORYX project envisioned. https://oryx.network

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