great to be part of this awesome project! i hope to start trading on it soon!
i have been thinking about the matching engine, after all the fuds on Binance DEX… people are claiming is not a DEX because binance controlls all nodes, fair enough, however how does Nash solve this? from what i was reading we have this matching engine running possibly a cluster of engines (sort of nodes) all owned by Nash, can i assume Nash has control over all engines running? how does that makes it a DEX? is nash going to release owning a node like binance will in the future?
maybe this was discussed already, i do apologize if so.
Nash would still be a DEX for NEO and ETH even if we were to run a single node controlled by the company. So the answer is that there are multiple layers of decentralization here. One is in the matching network, the other is via state channels. The NEX matching network is a solution to a different/future problem.
As to how our new state channel protocol works: I’m not going to give specifics here (nor have we added these details to our whitepaper) as if we do, others will just copy our approach.
thx for the fast reply.
from what i understood its a non custodial solution but still with a centralized location where we trust the company is running these nodes in a fair way.
sort of hybrid dex i guess…
In the short term, the main thing you need to trust is that the matching nodes are making fair matches. Even that trust will go away in the longer term with a decentralized matching network and/or publicly verifiable proof of valid matching behavior. But the important thing to understand is that, as orders are matched (at high speed), you control the funds that result from the outcome of the trade, even across chains.
As for me, the way I understand is: Nash is a Non-Custodial Decentralized Exchange initially with Five Matching Engine Nodes that are scale-able to numbers of nodes.
I think this is very powerful: The Matching Engine is Decentralized and the State Channel is Decentralized.