Review on EtherFlyer by Fanuel PORPORTY
EtherFlyer: Decentralized cryptocurrency exchange platform (Open Source project)
EtherFlyer is a decentralized Ethereum exchange platform that will allow all kind of Ethereum wallets to partake in the trade. The trading platform will work through some technologies which meet the latest software development required to have a trading system. The system will adopt a hardware-accelerated and an efficient memory matching model which facilitate order-making and order processing peaks for the trader. The values for the heights are more than the typical average standards, and this means there is a full guarantee of no delay or lag during any order process while trading on the market. Consequently, EtherFlyer can support more trades per second in real time compared to other forms of exchanges
The exchange platform understood of different smart contracts running on the Ethereum blockchain. Each contract interacts with the rest of the ecosystem to allow users to make trades. For any exchange to take place, each user will need to enter the trade information and send the intended funds to their respective parties. Additionally, the trading framework supports a digital currency, TCASH. The utility token is ERC20 crypto operated and distributed by the platform. And as a means of expanding their reach, EtherFlyer also have an EOS platform to support more mainstream tokens within the blockchain.
Pros
- Incentives and bonuses for token holders and traders
- Diverse transactions- EtherFlyer supports transactions through cross-chain exchanges, cryptocurrency cities and other kinds of blockchains.
- Transparency- the decentralized nature allows users to monitor any transaction
- Revenue sharing- token holders get a 50% revenue fund from EtherFlyer as a relief from the transaction fees.
- User power- the devolved structure allows users to have control over their identity, funds, transactions and any other personal details
- Decentralized- EtherFlyer's structure works on a peer-to-peer trading model with a deterministic nature of the contracts
Cons
- EtherFlyer looks to be borrowing a lot of their developments from already existing ventures
- As decentralized exchanges operate primarily on-chain with the use of smart contracts, achieving consensus and executing trade orders can take more time than on a centralized off-chain transaction platform.
