Blocknet and VSA Partners reveal decentralized exchange UI

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Blocknet and VSA Partners reveal decentralized exchange UI

The Blocknet and its UI/UX partner, VSA, reveal the frontend design for its class-leading decentralized exchange.

Chicago, 06 Dec – After revealing VSA Partners to be the design agency developing its decentralized exchange UI/UX, the Blocknet has now revealed what a decentralized exchange should look and feel like. The answer: effortlessly familiar.

Few things are more critical for widespread adoption than a successful user experience, yet UI/UX is sorely neglected by the majority of blockchain technology projects. In recognising this, the Blocknet has entrusted its frontend design to VSA Partners, the design agency responsible for naming IBM’s Watson, and which counts Facebook, Alibaba, and GE among its clients.

The prototype revealed over a livestream and posted on YouTube showcases elegant, responsive, and intuitive design that seamlessly packages the Blocknet’s breakthrough decentralized exchange technology into a form that traders and crypto users are familiar with. Featuring TradingView‘s industry leading chart and analysis suite, a depth chart, an order book, and other tools most valued by traders, the Blocknet ensures that the key difference between using a centralized exchange and their decentralized one is exactly what it should be: greatly enhanced security and freedom.


Why a decentralized exchange?

Probably the single greatest perceived need in the crypto community is for a real decentralized exchange. An estimated one in sixteen bitcoins have been stolen. More exchanges than may easily be kept track of have been hacked, defrauded, or stolen from. A change is necessary, and a clear solution is now in view: the removal of the root cause of the problem, namely the need to trust an intermediary. Moreover, in a fundamental sense, Bitcoin cannot achieve its purpose of decentralizing money without decentralized exchanges. After all, if one is required to trust centralized, traditional businesses in order to buy or spend bitcoins, then money has not been disintermediated. If, on the other hand, money can be traded directly between counterparties, a key aspect of the ecosystem is no longer at risk from third parties.


A decentralized ecosystem

Decentralized exchange is not only a key enabling technology for the decentralization of money, but it will have the further effect of enabling digital services to be paid for in virtually any token, frictionlessly, anywhere in the world. This will change e-commerce as we know it. Currently, to monetise an API requires a cumbersome, costly integration to a third party payment gateway, and the high transaction fees of card networks prevent the emergence of entire business models, like micropayments and global bankless payment apps. The Blocknet’s decentralized exchange is designed to enable a world of new digital services via its API.

Upcoming Milestones

Several milestones are in the run-up to the production release of the Blocknet’s decentralized exchange app:

  • An SPV multiwallet (no need to download entire blockchains)
  • A “toolkit” site for integrators and developers,
  • Preview builds of the TradingView integration
  • A trading API –
  • A bot “skeleton” in Python that enables easy building of trading bots that use the Blocknet’s API
  • Order book enhancements
  • An inter-blockchain explorer, so that decentralized trades and other inter-chain services are made accessible in the same manner as, for example, chainz.cryptoid makes blockchain transactions accessible.
  • A new Blocknet website
  • An analytics site for the decentralized exchange
  • Preview builds of the frontend
  • 0x integration
  • Ethereum integration (including all ERC20 tokens)
  • Ethfinex integration (and, with it, Bitfinex’s order book)