XHUB, a cryptocurrency liquidity provider, announced on Monday it has formed a venture agreement with dual-chain blockchain protocol, ByteTrade. XHUB reputed that theoruhg the partnership, decentralized exchanges operating on the ByteTrade Open Network (BTON) blockchain and ByteBulls white label solution will have instant access to XHUB liquidity pools.
“XHUB, will integrate the DEX trading platform with its own whitelabel partners, OTC desks & market makers. DEXs released by XHUB will provide cross-chain trading, deep liquidity, fast trade execution and settlement for all clients.”
XHUB further reported that it will be able to generate user IDs secured by secret mnemonic phrase and clients will receive features and updates released by ByteTrade.
“The ByteTrade Consensus Agreement consists of two major mechanisms: DRPOS (Delegated-Revenue-POS) and CBP (Consensus-before-Packing). DRPOS aims to address the root of the low participation problem of blockchain communities. The overall speed of a blockchain network is determined not only by the block time, but also by the confirmation speed of each block. Since subsequent block confirmation is not required under the CBP mechanism, it offers greater network speeds with the block time rate at 1 block per second.”
Speaking about the partnership, James Anderson, CEO of XHUB, stated:
“Through the joint venture, we are going to solve the liquidity problem which is rife on DEXs. It will allow traders to use decentralised platforms with ease, execute large orders without getting shortchanged by the spreads and without the need to rely on centralised third-parties for settlement.”
Peng Peng, CEO of ByteTrade, then added:
“Our partnership with XHUB will ensure that we are able to offer as many assets as possible without liquidity being a problem. The smart order routing and matching engine deployed by the team at XHUB is an excellent solution that fits right in.”