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Ethereum (ETH) Lowest Fees Claimed on Decentralized Platform, Also Vitalik Buterin on the State of Ethereum

The team behind Blockonix, a decentralized exchange, has set a very major target in front of them. Crypto-verse market domination with a very attractive argument: having the lowest fees. The company promises that the platform will have top quality in being user-friendly and very low fees if their native token is used.

Ethereum Trading Exchange

The firm has made it public that if the user during the trades is not using the native exchange token then the fee will be one percent. If instead you choose to use it, will be 0.03 percent. This way the team wants to bring an environment very cost-effective in comparison to other popular platforms.

This platform is focused on trading Ethereum and Ethereum-based digital tokens and it has a worldwide reach. According to the team, the company is promoting a new wave of payment and futuristic apps that will help the clients. The exchange is fully decentralized and it does not store any of the assets of its clients.

One way of doing things, makes Blockconix stand out of other decentralized platforms. The individuals behind the exchange do not earn from the platform. The fees that are gathered by the use set to buy BDT tokens and burn. Taking it to another level, if you want to list a token in the decentralized exchange, you have to pay a 5 ETH stepping-in fee. Even these are burnt with the BDT tokens. So money is not hoisting the energy for the good team behind Blockonix but by the crypto-verse.

Ethereum Co-Founder

Vitalik Buterin – the much respected and for many role model to lead a crypto-verse project like that of Ethereum added his opinion on various topics related to the platform, decentralization and blockchain latest improvements. The thought-sharing took place during and event in San Francisco, hosted by Blockchain at Berkeley.

When asked what the mind behind Ethereum is working right now, he replied with having his hands full with the PoS and Sharding protocols.

“Recently, I am spending a lot of time working on the proof-of-stake and sharding protocols. This is what the Ethereum research community is focusing on more than anything else at this point. We think that proof-of-stake and scaling are both really important and there has been a lot of progress on improving the algorithms and the development of multiple limitations over the last couple of months, Buterin told me. I’ve also been looking at the economic analysis of transaction fees and how transaction fee algorithms can be improved to basically cut fees down and make the protocol alignment centers better and more efficient. Those are the main things I’ve been working on myself.”

When it comes to Casper Protocol, he spoke very highly and full of hype around it adding that it is truly making progress.

“I think that there has been a lot of frameworks for state channels coming out recently. The Casper protocol is getting much closer to being finalized at this point. It’s just pending review on academic analysis,”

Alex Tomzack
About author

Alex Tomzack is a crypto-enthusiast and has been fascinated since first hearing about it. Loves technology, writing, culture while being a regular trader and holder of digital assets. Email: alex@ethereumworldnews.com
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