Chief Visionary and Co-founder of PIVX (formerly known as Darknet), s3v3n h4cks announced the beta launch of ZDEX earlier this month. It is the world’s first Zerocoin-based, private, decentralized exchange (DEX). Designed to run on the masternode tier of the PIVX network, ZDEX will provide cryptocurrency investors and traders an avenue to “transact cryptocurrencies privately and anonymously” while eliminating the centralized middleman.
Completing Alpha testing on November 1st, ZDEX has scheduled the public Beta for November 14th. Its full release, however, is yet to be announced. ZDEX users will not be required to undergo any form of AML, KYC, or ID-verification and will be able to trade Bitcoin, Litecoin, Bitcoin Cash, Dash, Zcash, and Particl.
Initially, all coins will be paired with PIVX in order to engage its custom Zerocoin protocol. At some point in the future, it is planned for all supported coins will be able to trade directly, with the Zerocoin phase occurring behind the scenes. According to s3v3n h4cks, the choice for PIVX as the operational infrastructure for ZDEX was a no-brainer because of his involvement in the project and the technology with which PIVX is designed, which is to be used as a viable currency that preserves individuals privacy and security.
Speaking at the launch, project lead for both PIVX and ZDEX, s3v3n h4cks said:
“True DEX’s are important as they should require no AML/KYC and the functionality is controlled by the code and not by personal preference or government restrictions. I wanted to create ZDEX because a decentralised exchange dedicated to privacy did not exist yet.”
ZDEX User Advantages
Decentralized, anonymous, untraceable and focused on privacy, the ZDEX exchange platform offers a secure trading experience requiring no user signup, data logging, middlemen, paperwork, banks, registration or pre-trade deposits. It also promises users high speeds and a 0.25% trading fee split between counterparties.
Speaking about ZDEX, Turtleflax, PIVX support team member and Reddit community manager said:
“What ZDEX means to me in two words are sovereignty and privacy. Recent pushes for regulation or delisting of privacy coins have caused an uneasy atmosphere around privacy coins because, as much as we want to say you technically can’t block privacy coins without blocking Bitcoin or the internet in general, regulation of exchanges would be a large setback. Exchanges are also the best tool for invading the privacy of crypto users as anyone who has completed KYC/AML knows. Privacy at the exchange level is severely lacking, even among privacy coins.”