New Updates to Project TXA’s Whitepaper
If you haven’t read the Project TXA whitepaper yet, you really should take the time to read it. Everything you’ve ever wanted to know about Project TXA, the hybrid decentralized exchange (hDEX) framework, Settlement Data Providers, and so much more is explained in detail, with nothing to hide.
Recently, our engineers have made updates to the whitepaper that we think are worth highlighting. Here are those changes:
- Added mathematical formalisms describing the data structures used to track and validate trader balances. These will assist us in communicating the mathematical properties of our system to researchers and security auditors.
- Added a graph-theoretical representation of the state of funds on the network. This provides a mathematical and visual reference for how a ledger entry representing a deposited crypto-asset enters the system, how the ledger is updated when a trade occurs, and how the asset is finally withdrawn after settlement. Representing a ledger this way allows us to identify and describe system constraints.
(An illustration of the above-mentioned network.)
- Described the process by which an exchange proposes changes in balances to the network of validators, and how validators ensure that the changes do not violate constraints of the system. By representing changes in balances as discrete events with strict sequencing and provenance requirements, anyone with access to the stream of events generated by an exchange can recreate the entire ledger history and validate its correctness at each step.
- Added definitions for algorithms used to prove fraud in settlement reports. These algorithms will be implemented in smart contracts and called by validators to prove that an exchange or another validator has submitted data which violates the constraints of the system. With these trustless mechanisms in place, combined with economic incentives, the system encourages honest participation by exchanges and validators.
With each new update, Project TXA continues to solidify its place in the market as the leading hDEX framework model. Stay tuned for more exciting updates right around the corner!
New to Project TXA and wanting to learn what it’s all about? Be sure to follow us on Twitter to catch the latest updates and join our Discord community to meet the team and make friends. We love to give crypto to our community, and staying active on our Twitter and in our Discord server are the best ways to be the first in line.
Welcome to Project TXA, where cryptocurrency evolves.