JOYSO: A hybrid decentralized crypto exchange built for speed, privacy and security

Speed, privacy and security

JOYSO, the world’s first hybrid decentralized exchange, allows users to enjoy transaction speeds comparable to a centralized platform and the privacy and security of a decentralized exchange.

Launched in May 2018, the Taiwanese Ethereum-based ERC20 hybrid exchange, prides itself on good user experience and robust security. To protect their privacy, users can trade on JOYSO without registering.

To ensure transaction speed, JOYSO combines on-chain transaction execution with off-chain order matching. All transactions are executed on the blockchain by Ethereum smart contracts. However, functions such as order matching will take place off-chain, resulting in faster transaction times comparable to traditional centralized exchanges. This combination should also offer traders beneficial prices and lower gas fees.

From a security standpoint, JOYSO does not have access to users’ private keys and wallets. Funds remain in users’ wallets and the JOYSO exchange simply facilitates trading. This means that even if the exchange is hacked, the probability of user funds being compromised is extremely low. In a worse-case scenario where the exchange is hacked and the Admin’s private key is stolen, users whose orders have been placed and pending settlement can withdraw funds from the smart contract directly.

This security is a big selling point in an age where exchanges are being hacked left, right and center. As of July 2018, USD 731 million was stolen from crypto exchanges in 2018 alone, a figure that excludes Japanese exchange Zaif’s USD 60 million hack in September 2018.

JOYSO is powered by the JOY token, which functions somewhat like Binance’s BNB coin since paying transaction fees with JOY entitles users to a 50% discount. In addition, JOY token holders can also vote on various governance and operational issues.

JOYSO currently offers very low trading fees, with a 0% Maker fee and a 0.2% Taker fee (which can be lower if the JOY token is used to pay transaction costs).

JOYSO lists various ERC20 tokens in pairs with Ethereum (ETH) including:

  • JOYSO (JOY)
  • Tether (USDT)
  • Binance Coin (BNB)
  • OmiseGO (OMG)
  • Zilliqa (ZIL)
  • Polymath (POLY)

Users should note that they cannot purchase ETH on JOYSO. The exchange only supports trading of ERC20 tokens.

How to trade on JOYSO

It is very easy to start trading on JOYSO. Users only need to have:

  • A supported cryptocurrency wallet:
  • ETH or JOY: Users that do not have ETH can purchase it on other exchanges. JOY can only be purchased on the JOYSO exchange

Users can then visit https://joyso.io/trade/en/markets/joy_eth to select the wallet from which to deposit funds to the exchange. JOYSO will not actually hold your cryptocurrencies (unlike other exchanges) but will merely act as a bridge to facilitate trading.

JOYSO exchange portal (Courtesy: joyso.io)

Check out this blog post on JOYSO’s Medium page for more details on trading and withdrawals. Then, check out at this handy JOYSO trading tutorial.

Partnerships

JOYSO has formed numerous partnerships to improve trading experience and appeal to new users. For example:

  • A partnership with CoolBitX, the cold storage crypto wallet maker, enabling the CoolWallet S to host JOYSO trading on its distributed network of mobile apps and offline hardware wallets.
  • A partnership with Nebulas to one day create a new decentralized exchange (in addition to JOYSO’s current Ethereum-based exchange) on the Nebulas’ mainnet
  • A partnership with the digital wallet imToken 2.0 to allow users to trade on JOYSO through the wallet

To learn more about JOYSO, visit their website at https://joyso.io/

Quick Links

Website: https://joyso.io/

Telegram: https://t.me/joyso_io

Medium: https://medium.com/joyso

Twitter: https://twitter.com/joyso_io?lang=en

Disclaimer: Investing in Initial Coin Offerings, cryptocurrencies, and digital tokens is highly risky and speculative. The material presented here is for information purposes only. This information presented here is not intended to provide any sort of investment advice, nor does it recommend any company, Initial Coin Offering, or digital token and should not be taken as the basis for any investment decision or strategy.

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