Essentia integrates leading dEx-exchanges ForkDelta & IDEX
Today we are proud to present some exciting developments! From now on, such decentralized exchanges as ForkDelta and IDEX are available in the Essentia App. Here’s a closer look.
ForkDelta
At the beginning of the framework’s development, when considering which dApps to integrate, a dEx-exchange was an obvious first choice. At that time, EtherDelta was setting the pace and was used by an overwhelming majority of cryptocurrency holders. That is why we added it to Essentia.
Unfortunately though, ever since EtherDelta was hacked and compromised in December 2017, its popularity declined as people lost trust in its security. Then, EtherDelta’s fork — ForkDelta — emerged. With the same design, but enhanced by an updated interface for ED’s smart contract, it quickly attracted a large audience.
Keeping up with the situation, we took note of this migration from ED to ForkD. A wider choice of ERC20 tokens are available for exchange, and what is even more important, it’s constantly adding more to remain updated. So taking into consideration the situation at hand, we have decided that — if we also want to remain up-to-date and useful — then the only possible solution was to replace EtherDelta with ForkDelta in the framework. You may recall us mentioning this in our last monthly update.
IDEX
IDEX is an Ethereum-based decentralized exchange that features Ethereum and ERC20 token trading pairs. The main difference of IDEX from other exchanges is that it leverages its smart contracts to conduct transactions for its users. This means that, even though you still sign a transaction with your private key, IDEX will broadcast it to the Ethereum blockchain for you.
Overall, this exchange is an excellent choice for security-minded users. The platform has also gained a reputation for its efficiency and speed, hence it has become such a big player in the market.
Essentia has always placed users’ security and convenience above anything else, so from now on users can enjoy simple and secure exchanges. All within the Essentia framework.
Make sure to try out the Essentia App to see the functionality for yourself!