With fears of a centralized exchange opaque accounting, embezzlement and other issues are more serious, to the center of the exchange it has been given more and more expectations. Since last year, to the center of DEX Exchange has become one of the hot industry, the introduction of coins Ann DEX platform once again attracted the attention of everyone to the center of the exchange.
For the "decentralization" of understanding, chairman of decentralized exchange WhaleEx whale Exchange of Zhao Yi have their own unique views, he said in an interview PANews, "No need to adhere to the center of fundamentalism, and to the 'decentralization' as a tool for different purposes to decide whether to take the means to the center. for example, the center of the biggest drawbacks of the exchange is that the user can control the assets, he stressed that 'asset custody' at this level We must go on centralization. "
"Decentralized" the road is not smooth, Zhao Yi in view, the current decentralized exchange prevalence of a number of challenges, such as the current lack of adequate quality or attractive assets EOS backbone; Buyer No Bitcoin other mainstream currency, credits resulting bit, Fong Ethernet users do not want approach; approach will is not strong institutional users; poor flowability and the like. But they are a step by step to explore solutions.
"For an exchange, the most crucial is that should those fragmented product integration on their own trading platform, allowing users to stay as much as possible after coming," said Zhao Yi. The WhaleEx whale pay eight months since being formally launched, it has already handed over a good report card:
Nikkatsu users in 11,000, 24-hour trading nearly 8 million transactions, worth about 340,000 EOS, is currently ranked in the decentralized exchange is the world's first; only 15 days to become a super node before EOS ranked 21.
Turning to regulation, Zhao Yi has different thinking, that is, from a technical point of view, prevent evil. Zhao Yi said that the development block chain technology, to a certain extent, solve the problem of the regulatory system. On the one hand, the code of intelligent building contracts to ensure the transparency and openness, transaction data can be verified on the block chain; on the other hand, a credible organization for asset custody for multiple signatures, so that enterprises from the "do not be evil" to "not be evil" .
How whales Exchange is starting from scratch? In the face of strong competition in the center of the Exchange, Exchange whale is how to play the advantages of decentralized exchange snatch users? How to catch whales Exchange encryption Staking hot industry? Future plans and how?
Faced with these problems, Zhao Yi tells the story of the development of a decentralized exchange to PANews, detached thinking and planning on how to encrypt industry to create the platform.
The following is an interview with Record PANews, minor changes without affecting the original intent.
First, decentralized vs centralized exchange Exchange
PANews: According to the data Dapp Review of whale Exchange is currently ranked in the decentralized exchange is the world's first. Do you think whale Exchange biggest competitors? What are the other advantages?
Zhao Yi: The current cross-head whale biggest competitor, the natural or exchange, currency security. The biggest advantage comes from its network of safe currency effect of accumulated earlier. I think there is no doubt the same side of the exchange network effects and cross-side network lines are a very strong business, which is why we say "strong Always the Winner", because liquidity will bring liquidity. This is the biggest secret of the exchange, so the exchange should do it, in fact, a very high threshold. This is why currency security in the No. 8 May lost thousands of bits of money, because it is still unharmed.
PANews: whale Exchange intends to break down the barriers formed by the other network effects of it?
Zhao Yi: we mainly consider two variables: a technical variables, such as the central challenge to the center of the exchange of the exchange; the other is a variable on the regulation, which is variable on the policy.
PANews: When it comes to regulation, which is a problem the industry can not avoid the encryption currency. For example, some time ago announced a currency security DEX geographical blockade of 29 countries from July 1, the United States and shield the user in the main site. Whale Exchange has a kind of regulatory considerations?
Zhao Yi: we have an open and positive attitude to embrace regulation. We have to understand that the main goal of regulation and governments around the world to combat, first, money laundering, dirty money, second, illegal fund-raising fraud.
So, first of all, as a decentralized exchange, we are more self-discipline. For example, we do go to the center of the managed assets, more than sign, KYC, AML, and so on. Second, the post is not 1CO whale, do not touch gaming. Meanwhile, the center of the assets to the trust, allows us to witness innocent. Third, the development block chain technology, to a certain extent, solve the problem of the regulatory system. On the one hand, the code of intelligent building contracts, to ensure transparency and openness, transaction data can be verified on the block chain; on the other hand, is a multi-asset custody signed, and these objects also have signed more than public trust. This enables enterprises from the "do not be evil" to "not be evil."
PANews: When it comes to the center of the exchange, ideal DEX public mind is transparent and efficient and fast, but also to the center of the exchange of both centralized exchange, open and safe. You think this is "fish and bear's paw" it? These areas where the whale pay what efforts?
Zhao Yi: I do not think this is the "cake and eat it," because it is the whale to cross the goal to do this - it is necessary to secure, transparent, but also efficient and fast.
First, we attach great importance to security issues. As a truly decentralized exchange, we jointly do a slow fog security audit, have jointly signed a 1 + more than three partners include EOSLAOMAO eight EOS main network node as our contracts.
And, we also launched the "Noah's Ark" program, even if we pay extreme physical destruction of whales suffered will not lose money, you can call whaleextrust contract on the EOS intelligent backbone, automatically retrieves all assets within 10 days.
In an open, transparent aspect, because we are truly decentralized, our trading data, address and other information is on the chain, it can always be viewed through the relevant browser.
As for the transaction itself, in order to make transactions faster and more efficient, we use match the line, the result of the way the chain, so the user will feel the whale Exchange up very quickly and very smooth transaction.
PANews: In an interview before the fire station CEO of global currency Seventh Lord, he said, the current situation as a whole to the center of the exchange or "little toy." Some just to the center in some areas, such as user KYC, etc., the real deal maker or part of the center. How do you see this view?
Zhao Yi: I think we do not need to adhere to the center of fundamentalism. We do not all have to go to the center of things, but to understand that decentralization is a tool or method. The key is what your purpose is? Depending on the purpose to decide whether to take the means to the center.
For example, we say the "do not be evil" to "not be evil", which is the most important goal. In my opinion, the center of the biggest drawbacks is that I can control user assets, so the first thing I emphasize, go to the center of certain assets hosted on this level, which is the essence.
And if the match can solve the efficiency problem chain, on the use, because you only then will we be able to issue PK efficiency with centralized exchange. And what it means to bring together the chain? Each transaction must be subject to the sum of the resources of EOS, how may reach the level of megabits per second TPS it?
Second, let the wife's mother three minutes to buy coins
PANews: Well, currently in the process of development to the center of the exchange, there are not encountered any problems?
Zhao Yi: Of course, we will face some difficulties, but for all these problems to the center of the exchange have to face, such as: the current lack of adequate quality or attractive assets EOS backbone; no major Bitcoin and other temporary credits, causing bit credits, and other users do not want Ethernet Square approach; approach will is not strong institutional users; poor flowability; and the like. These are step by step we explore solutions.
PANews: You mentioned institutional users, there is a saying, institutional users demand for decentralized exchange is not large, the real situation is that right? Whale portrait Exchange users have institutional users do?
Zhao Yi: In fact, while for institutional users, they value these things:
First, the safe assets. They are often not very reassuring asset custody, because today the currency exchange is also at the center of fact, there is quite a big risk, these centers of exchange in find many institutional users - or quantitative trading team - the counterparty. These centers of Exchange can see all your cards, but also has unlimited chips, resulting in institutional users do not trust.
Second, the stability and liquidity of the API, including the richness of trading, transaction varieties.
To solve these problems and needs, we used to pay whales API, derivatives, futures contracts as well as to the center of the asset custody to serve these institutional users.
PANews: In addition to institutional users, whale Exchange target audience also includes what group?
Zhao Yi: whale Exchange's target audience is "the whole population", which is the whale post keywords a very important strategy. This includes 1.2 million accounts EOS, EOS 500 million for the holding cash at hand, 50 million bitcoins Square and Ethernet users, more than one thousand of institutional users, more than 10 million users legal tender.
Of course, when we service these sub-groups, using a different product features and strategies.
EOS accounts for 1.2 million, through our WEB end, wallets, etc. embedded.
For those who currently also at the center of the currency exchange, not used to create these 5 million ordinary users EOS account, we create a "safe account" to serve them, so that we may be able to complete the account opening within 30 seconds, to forget create trouble EOS accounts, we are free.
For users Bitcoin and Ethernet Square, we use a chain across mentioning charge and other services, so that a user can bitcoin bitcoins anytime, anywhere with the chain across mentioning charge come in the way, into the EOS ecology.
Finally, we and our future legal tender legal tender OTC channels in other countries, to make users more legal tender approach.
PANews: whale pay approachable location, ease of use has done a lot of effort. Whale Stock Exchange in the future there are further plans?
Zhao Yi: we are surrounded by "Let the wife's mother three minutes to buy currency," keynote to do. In fact, this slogan comes from a friend of my story. My friend's wife's mother fried A shares a lot of money, so the friend recommended her to currency speculation. But for people outside a circle currency, the currency speculation that a process is too complicated, so my friends wife's mother later abandoned. If such a high-quality user to enter, then the user's body mass currency circle will not increase substantially.
Specifically, we continue to optimize the recent "legal tender OTC" and "one-click buy money" to provide more legal tender currency OTC model, to attract more businesses to join, to optimize the depth of trading. At the same time, we also set up a "safe account" mechanism, phone numbers can be registered, while protect user assets. Progress is currently legal tender OTC well, although just on the line for about 10 days, but our current EOS OTC depth and prices have legal tender OTC and other exchanges is almost the same.
Third, the integration of products to retain users
PANews: Staking block chain industry this year is also a popular concern. Whale Exchange recently launched the whale tank mine and a good response. What Will the experience of success? This experience is unique to the center of the exchange it?
Zhao Yi: Assets decentralized exchange hosting guarantees Staking of open and transparent, it does attract some users; however, many problems are not technical issues, but other aspects.
For example, the "motivation" of the problem. Why do you use the Exchange user? Why do we get the money to trade here? Only by technical superiority and a little simple reason, they are useless. For example, before we had launched a "raise money movement": in the center of the currency because the exchange is not completely on the chain, so it's often more than the number of real numbers, if we are to put money raised there may be some runs on the Exchange will appear. However, in response to this event, not many people. why? Because we did not do this thing motive.
May we do "Whale mine pool", so that we keep the EOS mine to the pool, on a lot of user response. why? Because 100% of our earnings node returned to the user, our current interest rate is around 7%, with these tangible benefits, users naturally come.
PANews: whale Exchange is currently running on EOS, then locate the whales diplomatic relations with the EOS How?
Zhao Yi: Our current position is, EOS is well chain, we are DApp.
For example, we need EOSIO company behind Block.one to solve the problem of cross-user awareness education chain, other problems we can solve yourself. For example, Block.One put up Bitcoin integrated into EOS, whale Exchange on us is a huge positive. Because Bitcoin community with EOS communities are two types of people, which is not very attractive to the former.
However, we in the process of using Bitcoin, the encounter some problems, for example, the transfer is very slow for a surcharge, and so on. If the middle Block.One the company has 140,000 bits coins through a technology - a gateway or other means - made on the issue of EOS 140,000 "Bitcoin", ready to exchange, transfer and are instantly reach free, then it becomes the equivalent of a lightning Bitcoin network. If this thing really did come out, whether it is for the entire EOS ecology, whale Exchange or the user, are of great significance.
PANews: whale tank mine is currently 100% bonus, then the future how to achieve profitability?
Zhao Yi: For Exchange whale, the whale mineral pool is just a public project, we do not expect to make money from this project, on the contrary, we will subsidize some of the costs themselves node operations. Whale mine pools dividends are from the EOS node reward, we do in fact Jiehuaxianfo thing. Like our "chest" in reward currency, it is the same as provided by the project parties. We do this is to create a platform for future gather popularity, accumulated brand.
PANews: development model whale Exchange is to create a platform, on this basis, re-build eco, your plan is how ecological?
Zhao Yi: For the platform, we have a very in-depth thinking, but now is not convenient to disclose too much. If you see a platform feature itself is very clear, that it is not necessarily a real platform. The core measure of a quality platform that the new species did not occur. For example, most understand the platform of Alibaba in China, and it's Taobao platform on the emergence of many new species, such as Amoy girl, Amoy and other partners.
In addition, in many ways we can learn from traditional financial platforms other than the block chain.
First, the transaction. For example, why do we need to do a leveraged product? Because, according to statistics tiger securities, their users probably more than 60% of people use the leverage. This is to some extent characterize humanity. Well, if I do not provide the leverage offered by competitors, and my users would go to someone else.
Second, the community. For example, there are stocks Tiger securities community, Eastern wealth is by the "Shares" started. why? First, because in fact, most people own what to buy is not particularly understand, here there is a huge information gap. Block chain assets and encryption is the truth. So we whales Exchange will focus on creating community.
Secondly, the community will be showing a clear "emotional" information, which the trader is also a clear trading signals. As another example, the East Fortune and flush these financial App, the market is just to be. So, we need to do is to integrate those separate products on my platform, allowing users to stay as much as possible after coming.
While drainage, the maximum left to attract users. Our ultimate goal is, "exchange everything".