TXA is a hybrid decentralized exchange (DEX) building a global transparent and cross-chain decentralized settlement layer (DSL) for digital asset trades and non-fungible tokens (NFTs). TXA aims to provide a decentralized settlement system that enables peer-to-peer trades where users don’t need an account and all trades are done from peer to peer. The project’s major partner is Tassen. The hybrid DEX architecture merges decentralized non-custodial trading with centralized high-speed order matching engine, providing traders the best of both worlds. TXA is built on a fully decentralized and community-operated settlement layer that can be compatible with settling any asset obligation.
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Crypto News: Introducing the TXA Ecosystem
In this article, we’ll be discussing the TXA ecosystem, an interesting new project in the world of decentralized exchanges. TXA is short for “Transactional Settlement Architecture,” and it aims to provide a new type of decentralized trading platform that combines both decentralized and centralized elements.
Decentralized Settlement Layer
The TXA ecosystem is built on a decentralized settlement layer (DSL) for digital asset trades. This means that all trades are done peer-to-peer, and the money is never touched by the exchange. It’s important to note that you don’t need an account to trade on TXA, which is a huge advantage for those who want to remain anonymous.
Hybrid DEX
What sets TXA apart from other decentralized exchanges is that it’s a hybrid DEX. This means that it combines both decentralized and centralized elements to achieve faster trading speeds. This is achieved through a centralized high-speed order matching engine, while the settlement layer remains decentralized.
Community Operated Settlement Data Oracle
The settlement layer of the TXA ecosystem is run on a community-operated settlement data oracle (SDO) network. The SDOs act as validators or miners for the network, collecting trades and participating in settlements. The more trading volume that flows through the DSL, the more opportunities there are for community members to participate in settlements and earn fees from the exchange.
Building on Any Smart Contract Blockchain
One of the key advantages of the TXA ecosystem is that it’s not dependent on any specific blockchain. Users can lock and collateralize assets on any smart contract capable blockchain where TXA has deployed their contracts. Initially, Ethereum and popular layer 2 blockchains like Avalanche, RSK, Moonbeam, and Polygon will be supported.
Auditable and Secure
The TXA ecosystem has been audited, and the project team has undergone KYC procedures to ensure safety and transparency. The ecosystem leverages features of the DFINITY Internet Computer and head over the LTS to improve security and performance.
Conclusion
TXA is an innovative new project that combines the best of decentralized and centralized trading. With its hybrid DEX architecture and community-operated settlement layer, TXA is poised to revolutionize the way we trade digital assets. Be sure to follow them on Twitter and stay tuned for updates on this promising project.
