Atomic Swaps & ZNZ Listing on DEX, BlockDX

This month, ZENZO (ZNZ) was listed on the decentralized exchange(DEX), BlockDX. BlockDX is one of the only truly decentralized exchanges that supports cross-chain or multi-chain atomic swaps. This enables the ability for people to trade different cryptocurrencies for ZNZ and vice versa. Some examples of supported swaps could be BTC for ZNZ, ZNZ for ETH, or PIVX for ZNZ. Currently, there are over 115 supported assets on this decentralized exchange, which you can view here.

This is a monumental milestone for ZENZO (ZNZ), as well as blockchain, cryptocurrency, and decentralized exchanges. As centralized exchanges will always come with many bottlenecks and downsides, decentralized exchanges provide a more trustless exchange between parties. This isn’t to say that decentralized exchanges don’t come with their own pros and cons, though it provides more options for the user to decide what is the best for them. The more simple and frictionless that DEXs become for the user, will only make the emergence of the technology more prominent. Read more about this subject, covered in the recent CoinTelegraph article.

BlockDX User Interface (ZNZ/BLOCK)

What is BlockDX?

Block DX is the fastest, most secure, most reliable, and most decentralized exchange (DEX), built on the Blocknet Protocol. Block DX mimics a centralized exchange experience, but enables traders to conduct exchanges directly from their respective wallets instead of through an intermediary.”

BlockDX Features & Key Aspects

What are Atomic Swaps?

An atomic swap is a decentralized exchange of a digital asset, mostly cryptocurrencies. This removes the need for a third-party exchange or escrow service to handle user requests and instead is done through a decentralized manner, often through smart contracts.

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Getting Started

(Step-by-Step Guide for Trading on BlockDX)

  1. Install the latest ZENZO Core Wallet

2. Install the latest Blocknet Wallet

2a. Download the Blocknet Bootstrap File

3. Install BlockDX (Do not run any “setups” within BlockDX)

4. Manually configure the ZNZ integration with BlockDX.

Save this file (click to download) as xbridge.conf in your .blocknet data directory, which can be found within the Blocknet wallet by the following buttons: Window --> Information, you will see a Datadir: path, open this path within your file explorer and then copy the above file into said location. After you have copied and named the file, open it in notepad and edit the "rpc username" and "rpc password" fields of both the BLOCK and ZNZ wallet configs. You will also need to set these within your blocknet.conf and zenzo.conf files and then restart both wallets. (Note: If you have used the ZENZO Forge, set your 'ZENZO' RPC user as "user" and password as "forgepass", this will allow BlockDX and the Forge to work simultaneously without conflicts)

5. Start Block-DX. It should connect to the BLOCK and ZNZ wallets and show the available balances. Considering this checks out, you are ready to start trading. Ideally, you should have multiple UTXOs in each wallet, so that the DX doesn't tie up more coins than is strictly necessary for each trade.

Note: You can't trade with yourself (unless you're running 2 machines with both wallets).

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