October 28, 2021 - 3 min read
The team at SupraOracles is pleased to announce our new partnership with Tacen and TXA. In collaboration with TXA, Tacen is creating the world’s first hybrid-decentralized exchange (hDEX) – by with SupraOracles, their hDEX will become more resistant to attacks.
Tacen’s one of a kind hDEX combines a centralized order book with TXA’s decentralized settlement layer (DSL) to create an extremely fast and secure non-custodial exchange. This relies on TXA’s network of oracles, called Settlement Data Oracles (SDOs), to handle trade settlements. The partnership with SupraOracles will enable Tacen and TXA to utilize SupraOracles’ verifiable random function (VRF) to prevent attacks from predicting the next round of SDOs, ultimately helping prevent corruption by any bad actors.
TXA’s ecosystem provides settlement data services for platforms that build on the shared settlement layer. Institutions use custodians to collateralize their assets, so they become an IOU on TXA – its Settlement Data Oracles then act as validator nodes on the blockchain.
Trades that are matched are broadcasted from several exchange platforms to community-run SDOs on the Decentralized Settlement Layer. SDOs store the data and publish the trades on a ledger, while also handling the settlement of matched trades – this enables Tacen’s hDEX to remain fully non-custodial, even while relying on centralized order books to improve the matching speed of the exchange.
TXA and Tacen’s partnership with SupraOracles will enable them to utilize our VRF to prevent attackers from predicting the next round of SDOs. This will bar any corruption or collusion on behalf of bad actors, thanks to the randomness the VRF brings.
Additionally, through the joint collaboration between SupraOracles and TXA, Tacen will be able to build a hDEX capable of order matching more than 200 exchanges per second, while remaining fully non-custodial.
Jae Yang, TXA’s Chief Architect commented, “SupraOracle’s technology is a critical piece of architecture that allows for the creation of secured information in today’s world where that is almost non-existent. I believe this fits wells with Tacen and TXA goals of creating a more trustworthy world.”
Joshua Tobkin, CEO of Supra, commented, “Tacen’s revolutionary hybrid DEX will change the way users experience DeFi. SupraOracles is dedicated to optimizing hDEX’s security to fight attempted hacks.”
An extremely powerful cross-chain oracle, SupraOracles helps to bridge real-world data with both public and private chains. This helps to enable interoperable smart contracts, which in turn help to secure the future of financial markets. SupraOracles is bridging the gap between traditional capital markets and the web 3.0 ecosystem. The oracle’s toolset empowers developers to create, deploy, and manage data applications with robustness, superior performance, and agility.
A cutting-edge software company, Tacen is working on developing the world’s first hybrid-decentralized exchange (hDEX). hDEX will allow users to hold the private keys to their smart wallets, collateralize money into the smart wallet from another personal wallet, submit trades, and have the trades matched by exchange platforms on the hDEX. Tacen is improving support speeds by making their DEX hybrid, so that it is comparable to centralized exchanges, while still ensuring the protection of user privacy and that all assets are non-custodial.
TXA Pte. Ltd. is building the Decentralized Settlement Layer (DSL), a community-operated, open-source technology that enables fast, secure, non-custodial, cross-chain settlement of digital asset transactions. The TXA DSL is foundational to the development of the digital asset exchange of the future.
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