DigitalBits announces decentralized exchange to further liquidity and tokenization
Digital bits is preparing to deploy a 100% decentralized exchange and open source platform that relies on its own blockchain.
DigitalBits is a protocol that can tokenize any asset on its blockchain. At the end of July, the company announcement the decentralized exchange NicoSwap as an alternative to Uniswap, an open-source protocol for providing liquidity and exchanging tokens. The new platform is targeted for launch in the third quarter of this year.
“It is a decentralized exchange on the DigitalBits blockchain filled with liquidity pool technology and automated market making technology,” said Al Burgio (pictured), founder and CEO of Zytara Inc. and founder of DigitalBits Project. “Nico in ancient Greek means victory for the people. It’s the DigitalBits version of a Uniswap but cheaper and faster.
Burgio spoke to industry analyst theCUBE furry jeans at Monaco Crypto Summit, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s live streaming studio. They discussed recent trends in the world of digital currency and the importance of a decentralized blockchain. (*Disclosure below.)
Interest fueled by the pandemic
A serial entrepreneur for more than two decades, Burgio has been involved in the internet technology development, such as software-defined interconnect. He became interested in blockchain technologies during the second half of the last decade. Then a global pandemic arrived.
“Nobody foresaw the pandemic, nobody foresaw that the whole world would be at home staring at a screen and wondering what to do with their time,” Burgio said. “Many around the world have started learning about blockchain and cryptocurrency for the first time. It became a huge accelerator for this space.
The introduction of NicoSwap as a decentralized exchange is among the initiatives surrounding the world of digital currency that must continue, according to Burgio.
“The most successful blockchains need to evolve to become as decentralized as possible,” Burgio said. “It’s extremely important to have contributors at all layers, at the protocol layer, at the decentralized application layer, in many corners of the world.”
Here’s the full video interview, some of SiliconANGLE and theCUBE’s coverage of Monaco Crypto Summit Event:
(*Disclosure: TheCUBE is a paid media partner for the Monaco Crypto Summit event. Neither DigitalBits, the sponsor of theCUBE event coverage, nor the other sponsors have editorial control of the content on theCUBE or SiliconANGLE.)