Trading platform Coinex recently announced the creation of a public decentralized exchange (dex) blockchain that leverages the consensus protocols Tendermint and the Cosmos SDK. This month, up until the mainnet launch, Coinex is in the midst of its pre-election process with new node participants preparing to partner with the Coinex Chain ecosystem. To further promote decentralized innovation, Bitcoin.com has joined the Coinex Chain network by planning to run a validator node on the blockchain.
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Global Participants Join the Coinex Chain Ecosystem
Since the inception of Bitcoin and various alternative digital assets, centralized exchanges have lost customer funds every single year. Exchanges like Bitfinex, Mt. Gox, and Bithumb have lost millions of dollars in cryptocurrencies. The trading platform and blockchain business Coinex wants to tackle this problem with a dex chain that bypasses single points of failure and censorship while also providing a transparent process. Essentially, Coinex has created a distributed ledger system that allows for decentralized exchange functions, onchain privacy protection, and the ability to make programmable cash a reality.
In addition to the dex functionality, Coinex Chain aims to provide anyone with the means to issue a token and trade tokens onchain noncustodially. Users will participate in a governance system that allows for more transparency and user-base decision-making. Coinex Chain users will also be able to leverage the framework to issue pegged tokens and digitized assets.
The Coinex Chain Foundation held an event in Shenzhen, China on Oct 16 and started the Coinex Chain pre-election process. The conference was an important event for Coinex as global validator nodes joined the ecosystem
