Hi Everyone! It’s Quoc from QUANTA here. Thank you for joining the AMA. I’m happy to answer questions. I’ll be taking questions until 5 PM PST tomorrow (Friday). Apologies for any delays when it is our night time in CA, I will answer the first thing tomorrow morning.
Question 1 by Creditease
“So, what safe guards will I have with your cross-chain platform. Specifically, my keys ?”
Security is the most important aspect to our platform next to latency. The keys are generated locally, and only you have access to the key. They keys are based on standard https://en.wikipedia.org/wiki/EdDSA Ed25519 public-key signature key system. Credits and deposits are verified, endorsed, and signed by all the cross-chain nodes, each holding a separately key. By relinquish authority to credit/deposit across different chains, and leveraging Multisig nature, the approach safeguards against any human element. All of signature, and endorsement, would be made transparent to the user.
“So, key generation consumes new randomness but new signatures do not. Thanks for the reference.”
The key generation is guaranteed to be so large that there is no two key can be generated at any give time (even exact same time). Btw, we will generating you these keys on the token sale. Quanta keys are expected to start with Q.
“Could you explain how my dex is ‘tied’ to the blockchain.”
I think you are referring to your own “DEX”. If you run your own DEX, you can reference our to be, open-sourced QUANTADEX, as it shows how to integrate with the QUANTA Chain. You can specify your fee account to receive transaction fees generated on the blockchain. Order book can be queried from the blockchain, and all orders are signed and submitted on the blockchain with the user’s private key.
Question 2 by crypppty
“Hi there! What do you think about current solutions and why is QUANTA solution the way to go?”
Great question. The biggest challenge to today’s liquidity, lies in two problem… 1) centralized is charging enormous listing fees, limiting projects to be listed (<200 tokens), and open to tampering, 2) decentralized exchanges are slow and unusable, often only support “off-chain” order-book. Off-chain order book means no one trust each other run the order book, which is why there is a lot liquidity fragmentation by relayers: https://0xtracker.com/relayers . Not only that, ETH based DEX, vs NEO based DEX cannot trade amongst themselves.
So this leads to QUANTA solution….
QUANTA Order book — provides an on-chain order book with less than 1 sec trading latency, clearly addresses the trust and speed.
QUANTA Chain — provides the the fast settlement necessary, with the future support for many other financial assets.
QUANTA Cross-chain Architecture — integrates with other public blockchain to enable cross trading across any blockchain. (ETH, NEO, EOS, Stellar, etc)
The solutions enable fast, scalable decentralized exchange with on-chain order book, across any blockchain, and any number of tokens.
Question 3 by ricmech2307
“What advantages does quantadex exchange have over other exchange companies on the market and will you offer wallets where i will be able to keep my funds in case i wan’t to keep my funds on the system?”
The promise of blockchain is that everything can securely transmitted, executed on the blockchain, including on-chain order-book matching. While today’s exchanges are built on centralized system for expediency, due to the fact that building fast order-book is a very difficult problem (as seen by the usability of other DEXs). There’s a famous quote that goes, “The best way to predict the future is to create it”. Our team is building just that, a fast exchange capable of challenging CEX, with the security & benefits of the blockchain.
The cross-chain wallet technology (as i answered on another question), securely authorizes deposits and withdrawal into the blockchain by consensus, and signing. To transfer your funds back out to say ETH, you can transfer back to the QUANTA issuer, and the cross-chain/blockchain will release, and transmit your ETH back to the Ethereum main-net.
About QUANTA
QUANTA offers the only trading protocol with on-chain token custody, fully decentralized security, and an auditable, anti-front-running ledger.
To learn more visit quantadex.com and check out our white paper.
Official links:
- Join our Telegram Community and ask our team a question
- Join our Telegram Channel to get first-hand updates
- Follow us on Twitter
- Follow us on Medium
- Follow us on LinkedIn
- Follow us on Facebook
