EXPEX Listing Contest

Expanse is having an EXPEX contest! One lucky project will receive one year of listing on our decentralized exchange at no cost. That is a $10,000 USD value. Here’s how to participate and give your favorite project a boost: 

  1. “Like” the contest tweet:  https://twitter.com/ExpanseOfficial/status/1150950804209250304
  2. Type the name of the project/coin ticker in the comments below the tweet.
  3. Retweet the contest tweet. 

One lucky project will be selected randomly for the free year of listing. The contest ends July 30. Watch for the announcement of the winner in our August 1 newsletter. Spread the word!

EXPEX Plan

Following is the timeline for EXPEX development and deployment. The dates on the infographic represent the various stages in the process. This plan was developed by our Project Management Office (Farwah) and blessed by Christopher and Asim. We will monitor progress closely and report back periodically.

HitBTC to List Expanse

We are happy to announce another exchange set to list EXP, HitBTC. Based in Hong Kong, HitBTC has been around since 2013 and bills itself as the world’s most advanced cryptocurrency exchange. It provides markets for Bitcoin, Ethereum, Litecoin, Dogecoin, Monero, USDT, and more than 300 cryptocurrencies in total.

Created by outstanding technical minds, high-level finance professionals and experienced traders, HitBTC is delivering the most reliable, fast and powerful platform solution on the market.

“The HitBTC platform has earned a reputation for fault-tolerance, flawless uptime and high availability,” said Christopher Franko, Expanse Founder. “Expanse is thrilled to partner with their top-tier team.”

You will find the Expanse listing live for trading later this week. 

Exploring DEX vs EX

Here’s an article submitted by Jitendra Rathod, newsletter contributing editor.

Why a Decentralized Crypto Exchange Underscores the True Philosophy of the Crypto Movement

The term “decentralization” isn’t new. It is almost two centuries old, but never has it been used with such vigor and interest as it has been in the past decade. The invention of Bitcoin and the subsequent explosion of cryptocurrencies created a paradigm shift in the financial markets, and while the underlying blockchain technology was picked up by entrepreneurs and developers to disrupt the status quo, the tangible and tradable cryptocurrencies attracted financial enthusiasts (read=traders) who energetically took to trading in this novel and exciting asset class. To satiate the needs of crypto traders, many developers created cryptocurrency exchanges, akin to traditional stock exchanges, and irony died a thousand deaths.

The literal mushrooming of “centralized crypto exchanges (EXs)” is like a dagger in the heart of the crypto philosophy. Imagine trading decentralized cryptocurrencies on a centralized platform. If it seems counterintuitive, because it definitely is!

DEXs, or decentralized exchanges, though few in number, are seen by crypto purists as the true torch bearers of the movement.

Let us take a quick look at these two types of crypto exchanges.

  • Centralized Exchanges are platforms which are controlled centrally. All the trades and transactions which occur on a centralized exchange are mediated by a handful of “authorized” people, much like how traditional finance works.
  • Decentralized Exchanges also operate similarly to a centralized exchange in many ways, the only difference being that there are always peer-to-peer dealings instead of a mediator being involved. Although the front end of the exchange is managed by a group of people involved in the making of the code, the trade of currencies isn’t interfered with and is always dealt between the two parties involved.

DEX or EX? Weighing the Benefits

Many people turn toward EXs due to the amount of liquidity they offer. The trades on EXs are a fraction of a second faster than those on a DEX. Although it doesn’t make a difference for ordinary traders, the ‘high-frequency market makers,’ who regularly deal on the platform, are affected by this minute difference. Otherwise, DEXs are at par with EXs when it comes to the functioning and operation, and just as reliable as the latter, if not more.

The major benefit of a DEX is that since there is no involvement of a third party in any of the trades taking place on the exchange, all the funds are only accessible and controlled by the owners. This not only provides greater security to traders, but also curbs hackers who are drawn more towards less immune platforms like EXs.

On an EX, you don’t “own” your crypto assets; they are held by the exchange and you have to trust them to keep them safe. But if you see the growing list of EXs that have been hacked, you can well realise the dangers of entrusting your funds to them. EXs also control which tokens to list and which not and also decide on the amount they charge for listing. This, to, is counterintuitive, and, dare I say, counterproductive.

DEXs are more private but can be overwhelming for new players. You are responsible for the custody risks of your assets. DEXs aren’t bound by the stringent AML and KYC compliance requirements. Many DEXs offer only basic crypto exchange functionality and not the whole paraphernalia of trading tools often offered by an EX. DEXs, however, offer complete anonymity, another important tenet of the crypto revolution.

DEXs are faster, cheaper, less susceptible to malicious attacks and offer seamless integration with users’ personal wallets so that funds are always in complete control of their owners.

Legalities Surrounding EX and DEX

One of the major differences between an EX and a DEX from the government perspective is that EXs will, and can, thrive only in crypto-friendly countries. Countries that do not look favourably upon cryptocurrencies will, and have, ban(ned) EXs. Take the case of China, which has banned EXs from operating within the country. EXs can still function in such countries, but if the governments have created roadblocks, EXs will find it difficult to function. India hasn’t banned cryptocurrencies, per se, but doesn’t allow banks from transacting in crypto. This stops traders from cashing out their assets through their bank accounts. This has led to many EXs shutting down, or relocating, in recent months.

DEXs, on the other hand, are distributed worldwide, since they aren’t hosted on a single server, in a single location. That is to say, a DEX is not country-specific. And hence, no government can intervene in the working of a DEX and cannot, legally, shut it down.

For an EX to function, it needs to have the appropriate operating licenses from government institutions and are, in turn, regulated, by them. Again, because a DEX is distributed worldwide, it is immune to governmental institutions and regulations.

An EX needs to disclose its physical location and its ownership details. DEXs need no such declarations to be made. User accounts in many EXs are insured. DEXs do not provide any insurance and you are responsible for your own funds and the risks associated with their custody. If you lose your funds, nobody is going to give them back.

Different countries have started bringing DEXs under legal purview. In Australia, for instance, under the Australian Encryption law, DEXs could be blocked and denied access to unless regulated by the developers. Most other major countries, do not have DEX-specific laws, but may bring laws to (somehow) regulate DEXs.

Parting thoughts

Currently, DEXs are less popular than EXs, however, so as long as DEXs remain outside the ambit of stifling regulations and are closer to the decentralized spirit of crypto and blockchain, they offer clear advantages and are an attractive alternative to trade crypto assets.

Exchange Listing Update

Expanse has partnered with Cryptofacil, the largest cryptocurrency exchange based in Latin America. Cryptofacil launched in early March 2019 using cutting-edge trading platform technology from one of the global leaders in the Blockchain industry, Bittrex. Crytofacil currently lists over 260 digital currencies, including EXP. Read more here: https://www.einpresswire.com/article/479147576/expanse-partners-with-cryptofacil-for-exchange-listing

Developer Updates

Tokenlab

Tokenlab 2.0 is about to be handed off to beta-testers. This version brings many updates and new features, including:

  • Additional templates/protocols
  • New deployment methods
  • Ability to use a coupon code for payment
  • New token management tools through the Admin Panel

Beta-testing begins this weekend, with deployment of 2.0 happening in time for the next newsletter, 3/1.

UKYC

We could not be more proud of the progress made on the alpha version of Universal Know Your Customer (UKYC). Christopher Franko wrote the specifications, followed by wireframe design by Omar Alvarez and coding by @Bitjohn. It’s exciting to watch this BIG Idea come to life.

UKYC is trustless identity middleware. Customers can enter their identity information one time and receive verification badges that are transportable to other systems. This eliminates the hassle of inputting KYC information on multiple platforms and decreases identity fraud possibilities in that information is entered in only one place, with the information encrypted and verified by only one entity. Customers receive badges based on the verification results. Companies can then create gateways they can use to filter traffic based on badge identity criteria.

Exchange Listing Update

Expanse (EXP) and Tokenlab (LAB) are both now trading on Graviex Exchange, Graviex.net. At press time, Beaxy Exchange has communicated that Expanse will be announced as a round-three listing next week. EXP will be available for trading when the exchange first launches later this month.

Developer Update

It’s been an eventful two weeks since the last newsletter:

  • Tokenab launched on 1/23.
  • EXP and LAB Listed on Graviex Exchange.
  • Beaxy Exchange recommitted to listing EXP, with the announcement coming next week in regard to which listing tier EXP is in.

Over the next few weeks, we will launch another version of Tokenlab, incorporating the feedback from community members and Tokenlab users. The Admin Panel is almost ready to go, and Chris is working on Universal Know Your Customer (UKYC) utility. Last but not least, EXPEX is also set to launch first quarter.

EXPEX Update

As you know, EXPEX, our decentralized exchange for peer-to-peer trading, has been through beta-testing.The feedback from the testers was very positive, with just a few outstanding user interface items left to be addressed. With Tokenlab about to launch, it is more important than ever that we deliver EXPEX so that the newly-minted tokens can be listed on it.

Subsequent to the beta-test, the decision was made to have EXPEX reside within the Luna Wallet. This will require some additional programming, but it will allow for more frictionless trading.

At the same time, our founder, Christopher, is creating another Tokenlab component, UKYC, which will be made available.on the Module Marketplace. Universal Know Your Customer provides user identity verification for your products or for members of your organizations―anywhere validating identity is required.

Here’s how it works: Tokenlab UKYC creates a profile for each user that signs up and completes the KYC requirements. Once approved, the profile is assigned a “badge” in the form of a barcode. This badge can then be used wherever KYC is required. There is no need to complete the cumbersome KYC process ever again. Simply scan your badge anywhere the UKYC symbol appears. Companies everywhere will leverage our UKYC badge system for a nominal fee. Watch for the release of UKYC late in the first quarter.