Each transaction has a trusted mediator that makes it a centralized process.

When we deliver our card and the payment processor completes the transaction, it protects you and the merchant from any type of fraud. When we issue a check, the same thing happens, the bank makes sure there are funds and that the person to whom it is issued is paid. Even if you pay in cash, even when you use the cash, it is money supervised by the central bank and if the money is wrong, it can be easily verified.

Because it is a centralized entity where all operations are located in a central authority, in order to guarantee security in some way, as customers we have no choice but to trust that when we make transactions, our money is in good hands.

The cryptocurrency transactions for their part are different. Although there are other parties that confirm the transactions, it is not a centralized entity, the transactions are verified by a consensus, which eliminates the possibility of collusion. In this sense, transactions are usually called "trustless" or without trust.

For this we must think about the chain of blocks. From the beginning, all a block chain does is serve as a giant public book. When a coin is extracted, used as such or exchanged with another person it is recorded in the chain of blocks and is verified. So that anyone can buy and sell cryptocurrencies, the blockchain must be the same for everyone. In other words, everyone has the books of others.

This is the part of the system that people tend to confuse, but it is important. Thanks to blockchain, each transaction is recorded in a ledger or distributed ledger, which means that it is available on multiple computers and anyone who has access can see every transaction that has been registered. You have the ledger in front of you, and you can buy or sell cryptocurrencies directly without worrying about the currency being false. So the world of cryptocurrencies is called without trust, since there is no intermediary involved. Actually, it could look like you're your own bank.

However, there are many connoisseurs of the blockchain theme who claim that the expression used as "without confidence" to define the chain of blocks is ambiguous, since, somehow, people still trust a system. For this reason, they express that the confidence in the blockchain technology did not disappear completely, but that it has been distributed in more parts. Now it is everywhere.

This statement makes sense because, even if it is a decentralized system that gives us power over our assets to sell and buy, without having to go through a central authority to carry out our transactions. To some extent, we trust that the people behind the system will not make mistakes.

For example, we trust that developers will not build an insecure and error-filled software. That the miners do not confabulate. Therefore, we depend explicitly on the community and do not create a difficult fork without us. We are trusting in many things.

Decentralized system in the futures market.

At present, the blockchain is being applied in areas as diverse as commerce, entertainment and, of course, cryptocurrencies.

But ... what are the strengths and weaknesses of the technology that everyone talks about?

• It has a very low transaction cost for the exchange of assets.

• It is transparent, because the data is integrated into the network as a whole, which can be seen publicly.

• Users can trust that transactions will be executed exactly as the protocol commands.

• All transactions are immutable, which means they can not be altered or eliminated.

• Users have control over all their information and transactions.

• Due to decentralized networks, the blockchain does not have a central point of failure and is more capable of supporting malignant attacks.

• Blockchain data is complete, consistent, accurate, timely and widely available.

The futures market is having a remarkable and progressive development within the block chain. More and more investors are willing to use decentralized technology to negotiate cryptocurrency futures.

But, although the blockchain has had great advances in different businesses, in terms of the future market still presents challenges that must be overcome. Among these we can mention:

• It is slow compared to centralized databases, prevents real-time trading.

• It offers great savings in transaction costs and time, but high initial capital costs could be an impediment.

• Reliability remains an unresolved problem.

• In the blockchain system, an effort must be made to ensure that the nodes of the network reach a consensus.

• The lack of privacy in the chain can lead to tests on large orders.

• Chain transactions can be expensive.

• The reliability and scalability of chain transactions remains an unresolved problem.

• Margin trading where the user does not put the full value of the contract being exchanged is not yet possible in a chain.
  Digitex

Centralized system in the futures market.

• More powerful processors and less costs.

• Development of stations with more capabilities.

• Leverage, which allows operators to maximize their balances and take risks using their own discretion.

• Centralized servers have better privacy. This prevents operations or large volume orders.

• Allow online trading in real time, thanks to the speed of your data.

• The reliability and scalability of transactions is managed effectively.

• Transactions in a central owner server are out of the chain and are effectively free.
  Digitex

We can not really determine if a centralized system is better or worse than a decentralized system. All we can do is clarify the advantages of these systems and see in which situations they adapt better.

Centralized systems together with decentralized systems

Hybrid model of Digitex.

Digitex has created an intelligent combination of decentralized and centralized components interlacing the benefits of these, forming a hybrid system thus creating an adequate balance of confidence in an exchange of encryption futures.

Speed and reliability is the scenario that Digitex wants to present to its future clients.

Providing the reliability of centralized servers with the trustless security of decentralized intelligent contracts.

DIGITEX will act as a central system that stores all the updates and information of the merchant, interacting with intelligent decentralized contracts that guarantee a secure system, without "trustless" where the details of the user, such as the balance, the margin of responsibility, the losses and the profits are in the power of the individual.

The balances of the accounts are maintained by a decentralized and independent intelligent contract in the chain of the Ethereum block, not by the exchange. The stock exchange informs the intelligent account balance contract of a circulation margin of the commercial and commercial profits / losses, thus maintaining its position in the market, offering more power to the entrepreneur based on his investments. Digitex

Digitex Futures Exchange will not have its private keys, therefore, it will not be able to use its funds to freeze or manage, since it physically does not have access to its money.

Digitex does not have any regulatory pressure like de KYC / AML, therefore, it will not be necessary to issue any personal information to the platform at the time of registration or when making an exchange, which guarantees greater privacy.

The centralized exchange will function as an oracle for the intelligent contract.

When a merchant wants to withdraw DGTX tokens from their account, the smart contract must first request the exchange for an update on their business profit and loss, as well as their current margin liabilities in their stream so that the smart contract can update their availability to withdraw balance. Digitex

This communication between the stock exchange and the smart contract requests an update of the balance of a merchant's account, which prevents hackers who wish to hack the exchange from adding false amounts.

Digitex provides a solid solution that takes the strengths of a centralized server and a decentralized system, thus creating a potential hybrid system, which will make commission-free trading a new standard for the exchange of futures.

Now, based on this information, you should know that you can get DGTX tokens for free with your Airdrop, you just have to be one of the first 5000 registered users on your waiting list.

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DISCLAIMER: The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investing should be carried out based on any information presented here. The following information is for educational and entertainment purposes only.

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Press release: https://blog.digitexfutures.com/digitex-futures/digitex-to-present-keynote-demo-futures-exchange-at-malta-blockchain-summit/