- BYTEDEX WHITE PAPER (ENG)
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Byte Decentralized Exchange
Crypto assets that joined our lives by someone or some people using the nickname Satoshi Nakamato in 2008 have reached a market volume by 1.5 Trillion Dollars worldwide as of April 2021 when this document was written.
The world of crypto assets, where Bitcoin is the flagship, is developing day by day, and with this development of the crypto ecosystem, blockchain applications and infrastructures are also increasing at a dizzying speed. Exchanging crypto assets play a very serious role in the crypto world at the point of buying and selling crypto assets, changing hands or converting them into any goods or services.
Our country has become one of the leading countries in the world that is in demand for crypto assets and as of February 2021, the total crypto asset trade in Turkey has reached 218 Billion Turkish Liras (Approximately 27 Billion Dollars). (Reuters Chainanalysis,2021). According to the “2021 Turkey Crypto Currency Awareness” report of CoinGecko website, which tracks crypto assets and crypto exchanges traded on exchanges around the world, 91% of crypto assets change hands in Turkey through crypto exchanges. Roughly $27 billion of Turkey Crypto asset trade is made through crypto exchanges. Again, according to the same report, while Turkish users conduct their trade with Binance with a rate of 61%, the remaining market share is shared by BTCTurk, Paribu, Thodex and other large and small exchanges. At this point, Binance stands out as the stock exchange with the most trading opportunities in the world with 949 trading pairs, while BTCTürk, the exchange offering the most trading pairs in the Turkish market, can only offer 55 trading pairs.
On April 15, 2021, Turkey banning the use of cryptocurrencies in purchases of goods and services and companies with payment point licenses from trading cryptocurrencies had a negative effect on the stock exchanges in our country and the payment points that provide services to these exchanges. Unfortunately, nearly 70% of the crypto money trade in our country is carried out by foreign exchanges. (Two days later this document published, 2nd biggest crypto exchange owner run way with more than 110M Dollars worth crypto currency.1 Day later another exchange shut down operations suddenly and Masak (Turkish goverment unit against financial crimes) blocked bank accounts of exhange finally anothe exchange closed operations. All of these exchanges were centralized.)
In this, the constantly changing legal regulations in our country, the rumors that tax will be charged, the infrastructures of the stock exchange in our country are not flexible and diverse, the constantly experienced capacity and collapse problems cause our crypto asset capital, which is a cash value, to be evaluated abroad.
In the developing technology and globalizing world, it is not possible to draw limits on crypto assets today. For the reasons mentioned above, it is possible to solve these problems in accordance with the technology that develops every day. As Bytedex, we want to make a new start for our country in light of the experiences gained to date by using the developing blockchain technologies in the highest form. We believe that the services we will start locally will develop us to join the world arena and ultimately make ByteDex one of the world’s leading crypto asset exchanges.
As Bytedex, we want to make a new start for our country in light of the experiences gained so far by using the developing blockchain technologies in the highest form.
Crypto Assets and Exchanges
In Turkey, where 1 out of every 5 people use crypto assets, crypto assets have started to be used frequently as an alternative to traditional inflation protection methods such as gold and silver and other convertible currencies against the rapid depreciation of the Turkish lira. The fact that crypto assets do not contain the restrictions of the current banking system, can be stored in electronic devices or private cold wallets, and can be traded globally, reinforces the feeling that users have full control over their assets. Due to the fact that it can be easily bought and sold within the existing structures and the risk and profit rates of the crypto world are high, users can earn serious income by trading the crypto assets they own with full control, and they have the opportunity to earn a continuous passive income by lending the crypto assets in their hands. We know that crypto assets create an unavoidable service network with the ever-developing technology, possibilities and options. Today, these service networks can easily reach anywhere in the world without any physical boundaries, ideologies or management. The spread of crypto assets based on this new technology, which is not dependent on any center or person, and that central governments or nominal currencies can never control in this development, opens a new page to this century.
To understand Crypto Assets, we first need to figure out the blockchain system. In a simple way, it is the creation of a network between computers connected to each other or electronic devices that have the power to perform other operations, without being connected to a specific center, and the software running on this network perform some of the tasks assigned to them by the compromise of all computers participating in the network. The existence of public, private or semi-public blockchains can be designed for various usage purposes.
Crypto assets, as described above, are program structures that are traceable and have their own non-repeatable signature, produced by an algorithm created by the network software and the devices connected to each other.
Satoshi Nakamoto, who published the article “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008, theorized this system in this document, and eventually, in 2009, Bitcoin entered our lives as the first crypto asset. Bitcoin is the mother of the 10 most used crypto assets today.
In Nakamoto’s design, Bitcoin (BTC) as a crypto asset is designed as a reward for people who handle algorithmic transactions. When looked at systematically, every transaction (transfers, distributions or handovers) made on the blockchain is recorded today in an account called Distributed Ledger. This record is controlled and approved by devices on each network. Transaction records are encrypted with special algorithms and participating computers in the network try to decipher these encryptions by using electricity and processing power, Bitcoin is produced as a result of decrypting and recording the transaction. Bitcoin represents 65% of the total crypto asset market today.
Ethereum, one of the other major crypto assets, is essentially a modified and updated version of the Bitcoin system, using the same transaction logic and systematics. Ethereum has introduced programmable crypto assets to the crypto asset market. In the blockchain network, crypto assets that can execute transactions according to the software they contain are called smart contracts. With this opportunity provided by Vitalik Buterin, the founder of Ethereum, entrepreneurs, institutions and companies create crypto assets with their own systems and contribute to the crypto ecosystem. The details of crypto assets are not the subject of this document, but it is important to understand the logic of the existence and emergence of crypto assets systematically.
The emergence of crypto assets has enabled people to transfer financial assets without entering the classical banking system.The ability of individuals to transfer assets within the blockchain structure without giving their identities to 3rd parties and without the need for any intermediary institution has made crypto assets a kind of value transfer tool.
Over time, the necessity of having structures that will enable the transfer of crypto assets between real persons first revealed the matching engines. These matching engines have developed as structures that roughly match people who want to buy and sell crypto assets and allow them to relate to each other. In time, these structures have developed and created Crypto Currency exchanges that are in our lives today.
Central Exchanges — CEX
KVBs working in the central system enable companies or entrepreneurs to carry out all transactions on their own servers.
All processes are executed and managed from central servers.
Therefore, all crypto currencies are stored on these servers and transferred from there.
In the world literature, “Centralized Exchange” is called CEX briefly.
All the stock exchanges in our country are in this category.
Decentralized Exchanges — DEX
Decentralized exchanges have joined the literature as “Decentralized Exchanges”, or DEX shortly.
These exchanges are, unlike CEX, the exchanges in which almost any token or coin that can create trading pairs can take place, as well as popular crypto currencies without restrictions.
This allows you to trade on exchanges without restrictions such as authentication or certain withdrawal amounts.Recently, many exchanges have become popular with open-source code.
Hybrid Exchanges — CDEX
Hybrid exchanges are structures that exhibit decentralized exchange characteristics with some aspects created with experiences from CEX and DEX, and some features that show centralized system features.
This innovative type of exchange that emerged recently became known as “Centralized DEX” or C-DEX.
While EX exchanges can exhibit ease of transaction, stability and management in Central exchanges, the purchase and sale of Crypto Currencies takes place on their own blockchains.
Pros and Cons of Centralized Exchanges
Since these exchanges are generally managed by companies, they have to comply with legal processes.
Therefore, they are responsible for the regulations.
You have an interlocutor in front of you regarding the claim and loss of rights.
Centralized exchanges have much more stockbroking instruments because they are controllable in terms of software structure, such as leverage, options, orders, 24/7 customer service.
Use of Fiat Money Such exchanges can make deals with banks and payment institutions and easily exchange or trade crypto assets and fiat currencies.
In this case, crypto assets can be traded with credit cards and bank accounts.
Many CEX services can be maintained stably, although the commissions they receive are higher than other exchange types, it is a kind of win-win situation for users and exchange owners due to the additional services they provide.
Due to the ownership of legal status and the ability to trade with fiat currencies, a lot of transactions are carried out on these exchanges on a daily basis and as a result, high liquidity and transaction capacity occurs.
They are contrary to Blockchain Ideology.
The most obvious ideology of the blockchain world is decentralization.
Bitcoin is mainly built to break the hegemony of central currency structures on humans.
In fact, centralized monetary structures have become structures that can produce unbacked money in the debt-based monetary system.
Blockchain takes this power from banks and gives it to people.
Another issue that is now publicly known for CEXs is internal interference with the values of crypto assets.
The price of each crypto asset in these structures can be intervened, price changes may not be reflected instantly, or transactions can be stopped.
Centralized systems are very vulnerable to hacker attacks.
Although many security measures have been taken, we should not forget that no system is perfect.
Crypto Assets that are on the exchanges in CEXs are completely in the hands and control of the exchange.
In this case, it can be very easily manipulated, and you can lose your assets completely.
Pros and Cons of Decentralized Exchanges
DEXs do not usually keep user funds.
Therefore, you’re the only one in control over your own crypto currency.
Users who want to trade on the decentralized exchange retain control of their funds for the entire transfer period.
Since liquidity pools are created by traders in DEXs, when the required supply and demand are provided, cryptocurrencies not yet listed by central exchanges can be found in decentralized exchanges.
Process Continuity While even seconds are valuable for users in an area with high market volatility, such as the cryptocurrency sector, the possibility of stopping transactions is minimized in decentralized exchanges because the distribution does not take place from a single point.
When decentralized exchanges transact on the blockchain, all information is stored on the blockchain.
On a DEX, your Private Key is regarded as your login information.
After logging into DEX with your Private Key information, you can see your balance immediately.
All you need to use a DEX is a cryptocurrency wallet.
Use of Fiat Money
There are no fiat currency trading pairs on decentralized exchanges.
You cannot buy or exchange cryptocurrencies in traditional currencies such as Turkish Lira, dollars or euros.
You also do not trade credit and/or debit cards on these exchanges.
Centralized cryptocurrency exchanges, which have reached a certain number of users, usually have a customer representative office where they can contact their users in the face of difficulties.
While CEX users can contact the platform via email or phone regarding their problems, there is no such option for DEXs.
Difficulty of Use
DEXs provide services to more knowledgeable and experienced investors due to their design.
For this reason, decentralized exchanges can be complicated for beginners of cryptocurrency investment.
There are no additional software and interfaces used in stockbroking.
Some trading pairs on decentralized exchanges may not offer reasonable prices due to insufficient liquidity.
Some central platforms, which are more popular and have more volume, may draw partly more stable picture at this point.
Pros and Cons of Hybrid Exchanges
Hybrid Exchanges store information and crypto assets, such as DEX structures, in the blockchain.
In addition, extra security software is involved in this process.
They are the safest type of exchange in stock exchange structures.
You have full control of your assets in these exchanges.
No one, including C-DEX management, can interfere with transactions because all transactions take place on the blockchain.
Hybrid exchanges do not break down, shut down or interrupt transactions like DEXs.
Transactions on the blockchain proceed continuously.
Use of Fiat Money
C-DEXs are able to act like central exchanges in terms of legality and correspondence due to the central management they inherit from CEXs.
For this reason, they can receive payments by credit or debit cards and offer the possibility of exchange for fiat currencies.
Variety The diversity that exists in DEX can also be achieved on C-DEX exchanges.
However, this diversity is limited to the decisions of the stock exchange management.
Having Centralized Menagement
Although the transactions in these exchanges operate in a distributed manner on the blockchain, the central management approach may not be considered appropriate by users who are firmly committed to blockchain idea because there is an understanding that is not included in the idea of blockchain.
C-DEX exchanges are structures that need liquidity, such as DEX exchanges.
C-DEXs try to solve these problems by direct connection to stock exchange pools, such as transferring exchanges in liquid form to each other or trading pairs in each other’s exchanges.
Setting up C-DEX exchanges is much more costly than both CEX and DEX exchanges.
These exchanges have to create their own architectures in accordance with the blockchain structure on which they will trade or the major existing blockchain structures.
ByteDex White Paper
Crypto Exchanges in Turkey
Current Situation and Problems
As of the date of writing of this article, 14 KVB are found in Turkey.
The trading volume of these exchanges at the time of writing this is approximately 8 billion 182 Million Dollars according to Coin Turk Website, which tracks the trading volumes of the exchanges.
On average, the commission rates received by the stock exchanges in Turkey are around 0.15%.
The total commission of these 14 exchanges can be calculated as 12.2 million dollars / per day.
One Of these exchanges, Paribu was the first with a 24-hour trading volume of 1.710.000.000 Dollars, Thodex stock exchange was the second with 1.144.000.000 Dollars and BTC Turk was the third with 718.000.000 Dollars.
Although the commission rates received from users are millions of dollars per day, many crypto asset exchanges in Turkey fail in terms of quality of service. In 2021, 1056 complaints are received weekly from cryptocurrency exchanges. In February 2021, this number of complaints increased up to 9500 per week. The other research confirming this situation is that only 1 Turkish stock exchange was ranked 92nd in the list of Top 100 Reliable exchanges of the CoinGecko site, which follows the coins and exchanges in the world.
The KoinKolik website, on the other hand, has listed the most complained issues in its şikayetvar website research as follows; (Exactly quoted from the research.)
Customer Service Issues
“One of the users tried to transfer the crypto currency to another account, but there is an error in the wallet address.
But the error affects not a single coin, but all the coins in the system.
As a result, he wants to reach out to the support team, but he does not find it normal and useful for the support team to serve by e-mail.”
Asset Control Issues
“Some users noticed that they could not see investments in their own wallets.
Especially those who made trades said that they suffered from the sudden increases before the purchase, and the cessation of the increases while selling and the rapid decline. “
“Transactions may not be approved if urgent money is needed.
While deposits are easy, withdrawals are difficult, it both abuse many people’s confidence and scares.
“It is claimed that many people are damaged by the companies that shut down the system when the market rises.
In addition, the sudden shutdown of systems and the blocking of access to sites have put many people’s investments in a difficult position.”
Confirmation Code Issues
“Most cryptocurrency exchanges may request a confirmation code for different transactions according to your preference.
However, there may be difficulties in withdrawing money.
There are users who say the confirmation code has not arrived.
Although some users report their problems by e-mail, they say they have not received any feedback.”
Sales Transaction Issues
“A certain amount of cryptocurrency can be obtained in applications.
But it seems that they cannot sell cryptocurrencies without orders and obstacles.”
“Apart from this, some of the issues that receive the most complaints are the blocking of trading transactions, problems in transfer transactions, account transactions, failure to close accounts, login problems, and account limitations of companies. The most noticeable complaint is the changes in commission fees. According to the users, the commission fees are changed according to the companies’ own mind. “ (Koinkolic)
As can be seen from the general characteristics of the above complaints, the CEX format exchanges in Turkey can reflect all the bad aspects of CEX to their users. Considering the average usage volume, each KVB earns an average of $8.7 Million per day. This makes approximately 70 Million TL for each day at today’s exchange rate. Compared to other business lines that operate online compared to any average service, a very good income arises. In this sense, this general inferiority in services indicates a truly abnormal situation. In addition, the overall size of the crypto market in Turkey can be understood more clearly when considering that Turkish users trade on Binance with a share of 61% apart from these transaction volumes.
The idea of emerging as ByteDex Crypto Asset Exchange has come forward with the aim of producing an answer to the disproportionate situation and the problems that we have mentioned above. As ByteDex, it wants to be able to provide the best service to crypto users in our country with a truly blockchain-based C-DEX structure and aims to transform the ByteDex Exchange into a community project in accordance with the spirit of the blockchain.
ByteDex Opens A New Page In Crypto Exchange.
Join This Journey!
ByteDex is created by an international team of 30+ people who fully believes in Blockchain ideology. It carries out a wide range of teamwork, from project managers, blockchain experts, crypto economists to liquidity providers. However, the most important component of ByteDex is its users. Blockchain is a mass formation. ByteDex is exactly a common structure that will grow with its audience.
Byte Decentralized Exchange
ByteDex Dual is a Decentralized Crypto Asset Exchange With Centralized Management that Trades on a Blockchain Structure.
ByteDex is a decentralized exchange with a central management based mainly on a double tier blockchain structure.
ByteDex develops its own blockchain system in partnership with abroad. ByteDex can reach very high transaction capacity and perform transactions within 1 to 3 seconds thanks to its double tier blockchain structure.
ByteDex works on a blockchain structure that functions with its own consensus algorithm built on 12 super nodes existing in every continent of the world.
With the opening of the ByteDex exchange, BYTEDEX coin production, which we call exchange mining, will also be possible.
Thus, the ByteDex ecosystem will be further strengthened with the small formed nodes.
“nodes” are the participants that run private blockchain software in the blockchain network and approve transactions on the blockchain.
ByteDex’s upper layer blockchain enables the ByteDex exchange and transactions within the ecosystem to be processed and quickly recorded.
The under tier, namely the “Mainnet”, allows the ByteDex ecosystem to record other blockchains or transactions that go out of the ecosystem or enter the ecosystem.
Transactions made in the upper tier blockchain are not included in the mainnet, but when leaving the ByteDex ecosystem or entering the ecosystem, the last state of the upper tier transactions are processed into the lower tier blockchain.
To explain this with a simple allegory, the lower tier is the mainnet court and the upper tier blockchain acts as a notary. On standard blockchains, every transaction goes to court, is sued, reviewed, approved, and recorded.
This requires time, money and energy.
This is how the process works with even the smallest transaction.
In ByteDex, transactions are firstly recorded in the notary public quickly.
The ByteDex top tier blockchain records all transactions within the ByteDex ecosystem in this way.
The final result of the transactions is submitted for court approval and approved.
For example, Ali logs in the ByteDex Exchange with $ 100.
Purchases and sales, exchange transfers or sales to Ali are all recorded on the top tier blockchain.
Ali reaches ultimately around 0.00005 BTC 0.4 etc in his account during all these transactions.
When he wants to transfer his entire assets or a part of it to another Wallet or Exchange outside the ByteDex ecosystem, Ali’s final balance is transferred from the upper tier blockchain system to the Subsystem blockchain.
And this last situation is processed into the subsystem blockchain and the process is completed.
In this way, transactions can be made in ByteDex within seconds without sacrificing transaction speed and capacity, without scalability problems.
Even though ByteDex upper tier and lower tier blockchains use their own consensus mechanisms, their term algorithms are the “PoS-proof of stake” algorithm that is widely used today.
In ByteDex Exchange, staking BYTEDEX Coins contributes to the functionality of ByteDex blockchains, as well as transaction fees and commissions to stakeholders.
In exchange mining nodes, they receive a certain amount of ByteDex rewards per block approved.
ByteDex uses DR-PoS (Delegated Revenue Proof of Stake) and CBP (Consensus Before Packing) consensus algorithms in the upper tier and the lower tier. DRPoS economizes as a redesign of low blockchain participation, inherited from DPoS (Delegated Proof of Stake).
In this way, all users can benefit from the Node rewards.
Byte Decentralized Exchange
ByteDex Dual is a Decentralized Crypto Asset Exchange with Centralized Management that Trades on a Blockchain Structure.
However, accordancy with CBP on the blockchain is provided prior to block approval.
Long block confirmation times are not required, as this allows thousands of transactions within the block to be verified by prior consensus.
In this way, the ByteDex Blockchain can perform hundreds of thousands of transaction confirmations within 1 to 3 seconds.
Nodes in the upper tier of the blockchain can be processed and approved at the same time within the same blockchain network by working in units with sufficient participation as much as the security sufficient number of the nearest nodes.
ByteDex thus gains the opportunity to execute large amounts of transactions within the blockchain structure.
The above structure, which we call ByteDex DualChain, also creates cross-networks between different blockchain networks, allowing different types of crypto assets to be traded on the same blockchain.
With Crosschain technology, different blockchain networks can be traded on ByteDex.
Thanks to the Crosschain Protocol, which ByteDex has acquired in cooperation with Bytetrade, which is also a partner of KCash, it becomes possible to establish relationships between different blockchains through smart contracts and APIs.
During this process, all crypto assets are locked with smart contracts and transfer between blockchains is performed.
Users make all transactions with the accounts they open directly on the blockchain through an interface. All crypto assets and information of users are embedded on the blockchain.
For this reason, nobody can access these accounts as a user holding their login information and private key.
No one can steal stored crypto assets embedded in the blockchain or hack the system.
ByteDex does not have problems such as crashing or freezing or being disabled due to its structure.
Because the system is running on a network fed by thousands of small nodes, it will not shut down before all network computers shut down.
If there are nodes that are disabled thanks to Artificial Intelligence, transactions are automatically transferred to other nodes.
You can request technical details of the ByteDex Blockchain from firstname.lastname@example.org.
ByteDex Completely Executes Transactions on The Blockchain.
Transparent Trades Can Be Made within the Highest Level of Privacy.
ByteDex Liquidity Solution
ByteDex conduct the matching of users among themselves best with the mapping mechanism established on the double layer blockchain.
It matches the market maker and the market buyer in seconds.
However, with the Smart Route Order systems, it connects to the major exchanges of the crypto world via APIs and connects the liquid pool of these exchanges to the ByteDex pool.
For this reason, ByteDex can offer all the convenience offered by central exchanges in liquidity on a Dex platform.
Through CCXT API, instant data and pricing of dozens of exchanges are integrated into ByteDex exchange.
For a crypto asset pair that is not sufficiently available in ByteDex via the Smart Order Route, it is obtained from the trading pairs of other exchanges and presented to the user in the most appropriate way.
All these operations take place in the background in seconds.
ByteDex, as a blockchain-based exchange, includes all the technologies that the blockchain ecosystem is familiar with today.
Smart contracts, which have come to the fore with Ethereum, are now widely available.
Smart contracts are programs that work on blockchain programmed for a specific purpose.
These smart contracts have led to the creation of decentralized applications that we call Decentralized Apps today.
As such smart contracts can be generated on the ByteDex Blockchain, these structures can also work as games and applications running on the blockchain.
At this point, you can create a game that works on the ByteDex blockchain as a real-life use, produce your own tokens to be used in this game on the ByteDex exchange, and ultimately list the crypto token for this game on the ByteDex exchange .
ByteDex Token Launcher
Different tokens can be generated on the ByteDex blockchain via the ByteDex Exchange.
They can be used within the scope of users’ own projects.
ByteDex is working on a list called BytedexAltTokens where such generated tokens can be listed separately on the main exchange screen.
In this listing, each generated tokens will pair with BYTEDEX and will be opened for trading if they meet the appropriate conditions.
The tokens that succeed in this list will gain the right to be published in the ByteDex main list.
ByteDexCoin is the main transaction and payment unit of the ByteDex ecosystem. In this context, it has the same features as coins used by other exchanges in a similar way.
BYTEDEX Coin will be produced by stock exchange mining on the ByteDex blockchain.
All payments within the exchange will be made with BYTEDEX, and will be used for commissions, staking rewards and all other transactions.
BYTEDEX will create a trading pair with all the major Crypto assets.
It will also be listed on many different exchanges.
At the time of writing this article, negotiations have been started in order to list our coin on other exchanges.
BYTEDEX Token are TRC-10 featured tokens produced on the TRON Network Blockchain created at the beginning of the ByteDex project.
These Tokens are produced solely for use in the ByteDex promotion process, and their total supply is 1 billion units.
Some of the remaining tokens to be sold in the Pre-Sale and General Offering will be kept as reserve to prevent speculative activities in the exchange until the swap transaction is made on the exchange with BYTEDEX Coins, and the remaining part will be used in promotion and reward programs.
All of the tokens that are not sold in pre-sale and general supply and remaining after the swap transaction will be burned.
More detailed information is provided on the bytedex.io website.
ByteDax ensures safe execution of transactions that can be translated as OTC (Over The Counter).
In OTC, trading takes place not through the stock exchange, but upon the agreement of two people.
For this reason, it generally allows the direct sale of large amounts of crypto assets to someone else.
Prices are determined between people who trade independently of the stock market.
In this context, ByteDex offers a kind of escrow service as well as recording the entire transaction on the blockchain.
In OTC transactions, money is sent first and then a crypto asset exchange takes place.
In this context, ByteDex checks whether the money has been deposited in the desired amount and records it.
Crypto Asset owner sends the requested amount of crypto assets to the buyer.
This process is recorded on the blockchain.
When the transaction occurs, ByteDex transfers the deposited crypto asset fee to the seller.
In this way, the transaction is carried out securely and at the same time, the validity of the transaction made with the transaction record on the blockchain is proven by both parties.
ByteDex Brokers enables people specializing in Crypto asset trading to provide broker services to people who do not have sufficient experience in the crypto asset market.
In this way, users can better benefit from the crypto asset market with the experience and knowledge of good brokers.
Users can choose between the brokers recorded on ByteDex by mutual negotiation method or traders who already provide broker services can start to serve their customers directly on ByteDex.
ByteDex does not offer or support any special offer for traders providing broker services.
It is not responsible for the gains or losses obtained within the scope of this service.
Within the scope of ByteDex, the user decides how much of the gained earnings will be transferred to the Broker according to the agreement made with the broker and the trade transactions will be stopped in case of a percentage loss.
The broker may trade with the user’s crypto assets within the limits given to him or her, but under no circumstances can he transfer the funds to other accounts.
The profit rates obtained by the brokers are automatically sent to the exchange wallets at the rate they agree with the user at the close of each transaction.
Byte Wallet (ByteW)
Byte Wallet is a type of DEX wallet inherited from the Stellar ecosystem’s decantralized wallet concept.
ByteW does not contain crypto assets, but displays your information and crypto assets embedded in the ByteDex blockchain and allows you to perform transactions on the blockchain via ByteW in an integrated manner with the ByteDex exchange.
It is not possible to hack or steal crypto assets because they do not contain any crypto assets in the wallet.
ByteW acts as a gateway to the ByteDex blockchain.
As with the ByteDex exchange, your password, private key and mnemonic words are very important for ByteW usage.
If you lose them, your crypto assets will remain locked on the blockchain forever.
Payments and Fiat Money
ByteDex Exchange has 3 different payment points, and you will be able to transfer fiat money from all credit and debit cards to your wallets.
In addition, in order to facilitate these transactions, we also apply for a payment point license as Byte Blockchain Technologies.
With this license, Visa and Maestro-enabled cards will be distributed to ByteDex users and you will be able to withdraw your cash assets on the ByteDex Exchange and use them in Turkey.
In case of changes to be made within the scope of taxation regulations, all payments will be made to the above-mentioned electronic money and payment institution as ByteDex exchange, and users will be given the option to make their own bank accounts directly through the payment institution, not through the exchange.
ByteDex Smart Security
ByteDex embeds all crypto assets and personal information into the ByteDex Blockchain as a design.
In order for these crypto assets and information to be hacked, at least 51% of 12 super nodes serving under the dualchain concept and stock market mining nodes must be captured.
This is not possible with today’s technological possibilities and is a very costly process for hackers.
In addition, the blockchain system is instantly audited by artificial intelligence and smart contracts.
A malicious attempt on any node is instantly detected and those nodes are taken out of the blockchain system.
ByteDex Crypto Asset Exchange offers the above services, among other stock exchange opportunities.
In this context, it aims to maximize the quality of service.
The transaction capacity is equivalent to the US NASDAQ stock exchange, and transactions occur within 1 to 3 seconds.
Thanks to the possibilities of being blockchain-based, CCXT can instantly flow information from all other exchanges, as well as process the most traded 100+ crypto asset pairs thanks to the liquidity obtained with Smart Route Order and offers the opportunity to list as many additional crypto asset pairs as desired.
It can support token structures (eg Erc-20, Trc-20 etc.) produced in different ecosystems within the scope of the Crosschain protocol in its own blockchain structure.
Block Explorer can record every transaction made on the blockchain and
transactions can be followed transparently.
Transactions on the blockchain cannot be interfered with by anyone, including the ByteDex team.
No one, including the ByteDex Team, can access, block, transfer or limit ByteDex user accounts.
The ByteDex Team cannot interfere in any transactions on the blockchain.
Our team can carry out transactions related to the security, maintenance and operation of the ByteDex exchange.
Within the scope of the business, it has functions such as 24/7 technical team and customer service, development of the software of the ByteDex exchange that operates on the Blockchain.
ByteDex is firmly committed to its community in accordance with the spirit of blockchain.
ByteDex will share 20% to 50% of the exact profit obtained from the stock exchange with the users who are staking the coins in their possession with BYTEDEX Coin.
ByteDex will exist as a Community project and will continue to do so.
ByteDex will exist and continue as a Community project.
The main purpose of the ByteDex Rewards Program is to create the ByteDex community.
ByteDex will keep the funds collected in Pre-Sale and General Offering (ICO) in liquid form that can be used by the community on the ByteDex exchange.
In this sense, ByteDex invites anyone who believes in blockchain ideology and advocates decentralization to join the ByteDex community.
ByteDex will exist not only as a crypto exchange, but also as an ecosystem that is a candidate to create the future of blockchain technology with its wide audience.
Pre-Sale and General Supply
Total Supply: 1,000,000,000 BYTEDEX Tokens
Special Pre-Sale Price 1 BYTEDEX = 0.01 USDT Total Supply: 100,000,000 BYTEDEX
Pre-Sale Price 1 BYTEDEX = 0.02 USDT Total Supply: 200,000,000 BYTEDEX
General Supply Price 1 BYTEDEX= 0.03 Total Supply: 200,000,000 BYTEDEX
After General Supply
BYTEDEX Token -> BYTEDEX Coin Swap Trading (All Remaining BYTEDEX Tokens Will Be Burned After Swap.)
BYTEDEX Coin Exchange Listings
AirDrop Program, Social Media Content Generation Competition, Networking Award, Influencer Award
BYTEDEX Tokens worth $ 500,000 to be distributed in total (Approximately 17 Million units)
30% Reserve Token, 10% ByteDex Team, 5% Introduction, 5% Reward Programs
BYTEDEX Token: Tron Network TRC-20 wBYTEDEX (Wrapped Bytedex Trc-20 standard compliance)
65% Product Development, 12% Advertising-Promotion, 8% Operating Expenses, 2% Consultancy
5% Reward Program, 8% Management expenses (Detailed information bytdex.io)
Disclaimers and Notices
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- Date of publication:
- Tue, 05/04/2021 - 07:31
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