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Decentralized Options Exchange Etheropt Uses Automated Ethereum Smart Contract

March 31, 2016 - Ethereum
Decentralized Options Exchange Etheropt Uses Automated Ethereum Smart Contract

The price per Ether will be taken from multiple sources, including Poloniex – the main exchange for ETH trading – and will be verified by Reality Keys. Since there is no owner running this platform, all of the trades, deposits, and withdrawals are executed automatically through an Ethereum smart contract. Decentralized autonomous trading is what digital currency was designed to do, and it is good to see new platforms pop up embracing this principle.

Ethereum keeps capturing the imagination of both developers and digital currency enthusiasts all over the world. As new platforms are being announced around the clock, the ecosystem is growing into something very powerful. One of the latest announcements comes in the form of Etheropt, a platform that is live on the Ethereum mainnet which offers decentralized options exchange opportunities.

Also read: Bitcoin Price Watch; A Shifted Range in Focus

The Etheropt Decentralized Options Exchange

Similar to Bitcoin, the Ethereum blockchain is all about decentralizing as many platforms as humanly possible. Although Bitcoin offers a variety of trading and exchange platforms, very few of them are decentralized at their core. Things could play out differently when Ethereum is involved, as impressive new platforms are coming to fruition.

Etheropt is one of those platforms, which is entirely decentralized. Moreover, this is not your everyday digital currency trading service either, as the main purpose is to exchange a variety of options. What is even more interesting is how all of the options are call and put options related to the Ethereum price, denominated in US Dollar.

The price per Ether will be taken from multiple sources, including Poloniex – the main exchange for ETH trading – and will be verified by Reality Keys. Since no owner is running this platform, all of the trades, deposits, and withdrawals are executed automatically through an Ethereum smart contract. Decentralized autonomous trading is what digital currency was designed to do, and it is good to see new platforms pop up embracing this principle.

What is even more appealing to potential traders is how Etheropt does not charge any fees. Unlike traditional exchange platforms, where a small portion of every trade is taken as a fee, no one will be making money from this concept other than the people successfully placing their options. Moreover, deposits and withdrawals are not subject to any fees either.

Etheropt users can ether deposit funds directly in Ether, or use Shapeshift.io to convert any of the supported digital currencies into ETH. It is positive to see the Etheropt developer looking at various ways to make this platform more accessible to all kinds of digital currency enthusiasts.

Source: Reddit

Sursa: newsbtc.com