Digitex Futures Exchange Development Update

As usual, a lot has been going on at Digitex over the past two weeks since the initial SmartDec development report. Not only have we announced our plans of becoming a DAO but we’ve also put forward a token reallocation proposal to the community. And, of course, behind the scenes, SmartDec has been working hard.

SmartDec Development Status Report Number 2

As promised, SmartDec is producing bi-weekly reports (that means every other week, not twice a week, as some people understood) so that the community can see the work that they have been doing. These reports include what has been done so far and what’s going to be worked on over the coming weeks. You can check out their report by visiting the company blog.

As the report is technical in nature, here we break down some of the jargon into plain English for those less familiar with some of the terms used.

Digitex Futures exchange developers (left to right) — Evgeny Marchenko, Alexander Seleznev, Sergei Pavlin (SmartDec)

Working on the User Interface

As you know, when it comes to cryptocurrency trading, the user interface (UI) is critical. This is often where many decentralized exchanges and applications fall down. They fail to offer a seamless working interface that has a logical flow and allows traders to place bid and sell orders at lightning speed.

One of Digitex’s many selling points is its one-click ladder interface that allows traders to stay in the zone and keep their eyes on the price action as it moves up and down to the left and right of the ladder. As you know, this particular part of the exchange was built by our Dublin team and recreated by SmartDec with all vulnerabilities removed.

What SmartDec has been working on over the last two weeks in terms of UI is making it as simple as possible for users to sign up and open an account. This is vital when it comes to onboarding new traders.

How many times have you visited an exchange only to be put off by the unfriendly signup experience or complicated interface and processes?

SmartDec is ensuring that opening an account is seamless, that authorization is fast, and that there is a simple and robust password recovery system in place. Work on this will continue over the next two weeks.

Ensuring a Robust Futures Engine

Remember, our Dublin team already carried out an excellent job when it came to the order matching engine. Many times, it’s almost impossible to take someone else’s code and build it and make it run. 

What SmartDec has been doing when it comes to the futures engine is auditing it, removing vulnerabilities, ensuring that future development is easy, and the code is sustainable for the long term.

This has required the team to eliminate certain parts of the code and create new parts that remove the dependencies. The team will continue to work on this task over the coming weeks as well. However, they have already succeeded in optimizing the architecture and removing the redundant code.

Development Status Overall

SmartDec’s report provides greater technical detail about work they’re doing on involving the Postgres database, and other development elements. The team is already working on developing the specs they’ve been building–moving forward with the rest of the exchange development the way that they see fit.

Things are looking good. The team is working well together, and development is in the right hands. Thanks for your continued support!

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