Bart
Hello. I'm using Slides for sharing knowledge about blockchain and miscellaneous projects of mine.
A Good Friday Special, by Blockbar • π • March 30th, 2018
If you are using cryptocurrencies, you know how to trade coins/tokens. You can use centralized services like Binance/Poloniex/Kraken/ShapeShift. Or decentralized services like ...
Bisq?
There are not many decentralized exchanges (DEXs) in use yet. Partly this is because of the lack of liquidity. This will change.
In the year 2018 DEXs will become main stream.
What? #1
Ok, so Decentralized EXchanges will become main stream. This is nice, because it makes life safer, easier & more fun.
Using a DEX has many advantages compared to a CEX.
What? #2
One of the most promising decentralized exchanges is BarterDEX. Partly this is because it swaps coins directly from coin to coin without using a proxy token. It's really just a protocol for swapping of coins using the native blockchains of the two coins you want to swap. BarterDEX is also promising because the development of everything related to it goes extremely fast and is well thought out.
You can already use BarterDEX (beta) for a few months now. It works. Now it has to grow.
BarterDEX is a good DEX, in heavy development.
What? #3
No one will use a DEX which order book is empty. From the beginning there has to be an order book of asks and bids to make it an interesting platform to use.
You can be the one that fills the order books with coin pairs for others to swap. If you give liquidity to BarterDEX, you can have more profit on trades than you'd have on centralized exchanges. In example: on every trade done by others you might earn 5% of profit. This gives you some easy money, and you support the adoption of the DEX.
Offer liquidity => Support this DEX & Earn money.
What? #4
LP stands for Liquidity Provider. At the end of this workshop
In this workshop you learn how to be a liquidity provider.
What? #5
To make it easy to have your LP node online 24/7, you could install BarterDEX on a Raspberry Pi (= cheap computer). Alternatives are running a bigger PC full time or renting a server.
A Raspberry Pi is a fairly cheap mini computer that can run Linux, Android, Windows and other operating systems. The computer doesn't need a lot of electricity. Because it's small it can easly run next to your router, fulltime. This makes it easy to use as a 'home server'. In example for videos, photos, your website(s), email, home automation. Or Storj / Golem. Or use the Pi for running BarterDEX.
You could use a Raspberry Pi to run BarterDEX 24 / 7.
What? #6
To make it easy to have your LP node online 24/7, you could install BarterDEX on a Raspberry Pi (= cheap computer). Alternatives are running a bigger PC full time or renting a server.
Basics:
1 Some knowledge of using cryptocurrencies
2 Curiosity (so no fear of using a terminal :)
3 A computer, preferably running Mac or Linux
If you want to be LP & want to offer liquidity to the network:
* A Raspberry Pi
find your shop, i.e. Kiwi Electronics)
* A 2.5 A micro USB connection
your phone charger, or similar
* A microSD card, at least 16G
i.e. this one
If you prepare, it might save time and give some extra understanding.
These are some resources you could check:
* BarterDEX section (Part III) in Komodo whitepaper
* Video showing the BarterDEX graphical user interface
* Download BarterDEX (you need to use a terminal to use it)
More advanced stuff:
* BarterDEX FAQ (in docs)
By Bart
Some info about decentralized exchanges. You could check these slides to get an idea about the workshop on March 30th @ Blockbar The Hague. Meetup event: https://www.meetup.com/blockbar/events/bwwqkpyxfbnc/
Hello. I'm using Slides for sharing knowledge about blockchain and miscellaneous projects of mine.