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Frequently Asked Questions
DeversiFi: How does DeversiFi differ to Kyber or Uniswap?
How does DeversiFi differ to Kyber or Uniswap? DeversiFi operates differently than purely on-chain exchanges. Protocols such as Kyber and Uniswap operate completely on the Ethereum blockchain. Order books are broadcast on chain and traders can take an order by submitting a transaction. The tokens are swapped atomically (meaning both sending and receiving must happen at the same time). This fully on chain system has certain benefits: It cannot be shut down or censored
DeversiFi: What is the purpose of the Data Availability Committee?
What is the purpose of the Data Availability Committee? Why is the Data Availability Committee needed? Privacy is key to trading. In addition to being slow, existing decentralised exchanges make all trades visible, however professional traders want to protect their trading activity and proprietary trading strategies from competitors and public view. Privacy will be a key requirement for decentralised exchanges to gain traction with this audience moving forward. In order to
DeversiFi: What is ERC20?
What is ERC20? ERC20 refers to the Ethereum token standard, which is used for developing smart contracts on Ethereum. Developed in 2015, ERC20 defines a common set of rules that an Ethereum token has to follow and implement in order to interact with other tokens in the ecosystem, giving developers the ability to program useful new tokens. The ERC20 standard ensures that Ethereum based tokens perform in a predictable way throughout the ecosystem, ensuring that decentralised application
DeversiFi: What is Ethereum?
What is Ethereum? Ethereum is a decentralised platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. These apps (also known as Dapps) run on a custom-built blockchain - an enormously powerful globally shared infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move fun
What is Public Key Encryption?
Public key encryption, or public key cryptography, is a method of encrypting data with two different keys and making one of the keys, the public key, available for anyone to use. The other key is known as the private key. Data encrypted with the public key can only be decrypted with the private key, and data encrypted with the private key can only be decrypted with the public key.