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11/04/2017

What are Superconducting Transactions?

Super Conducting Transactions

Aphelion is looking to change the game with crypto asset trading. With superconducting transactions on the NEO platform as its keys to success. 

When reviewing the landscape and history of crypto exchanges, one will see a landscape full of hacks, unexpected shutdowns and seizures. With hackers and thieves consistently targeting these exchanges, as well their users, centralized exchanges have proven to be a massive single point of failure for cryptocurrency. Decentralized solutions are needed for decentralized cryptocurrency.  Superconducting transactions and Aphelion on the NEO blockchain are the gateway to this paradise.  They are the key to unlock the potential of cryptocurrency and allow us, the users, to instantly exchange currency P2P on our terms and without the need for centralized exchanges to facilitate the transaction.

 

What is a Superconducting Transaction

In simple terms, this is the ability for two users to exchange cryptocurrency from different blockchains in a completely trustless manner via smart contract.  Each user agrees to terms before the transaction, then both use private keys to sign a copy of the transaction itself.  The exchange is performed instantly, with no transaction fees and removes the need for a centralized party or exchange service to complete the transfer on behalf of the buyer/seller. This allows a user holding NEO to exchange with another user for APH, as an example. NEO has built this ability into their platform calling this process superconducting transactions (more can be read in the NEO white paper section 8.1).

transaction-diagram Atomic Swap / Super Conducting Transaction Flow

 

Aphelion and Superconducting Transactions

With the introduction of DEAL (Decentralized Exchange Asset Ledger), Aphelion is designing tokenized transactions using smart contracts on the NEO blockchain bypassing the need for centralized exchanges.  Leveraging NEO’s superconducting transactions, this allows Aphelion to process exchanges P2P for any token they decide to support.  Meaning, those with the highest trading volume can be traded directly using the Aphelion protocol from day one.

Utilizing the NEO blockchain and the dBFT algorithm, the challenges faced by Bitcoin and Ethereum’s PoW and subsequent PoS technologies are solved for.  This allows Aphelion to be an Eco-friendly, open source and completely decentralized digital asset application. Users can transact a DEAL P2P for any coin, regardless of which blockchain it resides, decentralized and free of the threats centralized exchanges inherently carry. No need to place deposits on a server while allowing users to control their private keys at all times.


Aphelion DEAL Protocol

 

 

Why NEO

One clear advantage of Aphelion on the NEO blockchain is speed of transaction.  Atomic swaps are being added to DEX’s on the Ethereum blockchain.  Those DEX projects are already being met with traffic jams and network congestion.  In contrast, the NEO blockchain, in its current form, supports up to 10,000 transactions per second versus Ethereum’s 20.  There are plans to scale Ethereum, however NEO’s advancements hold the clear upper hand.  NEO provides any DEX platform with a blockchain that is not congested and has bandwidth large enough to support heavy trading.

While Aphelion will launch their own ux/ui, being an open source project they encourage the development of new and custom ux/ui’s.  This will allow others to build and design different interfaces to maximize the end-user experience leveraging the Aphelion protocol. Aphelion is unique in this sense, not only will Aphelion build and design a superior ui/ux, they encourage their community to build their own custom off chain interface.  This results in a huge win for traders – we get choice.

Built on the NEO blockchain and leveraging superconducting transactions, Aphelion is launching the first DEX platform built for all coins. One that can support the heaviest trading traffic while being open source, allowing new and custom interfaces.  A welcome addition to the crypto-trading community.  Instant, secure and truly decentralized, Aphelion is a game changer.  One that will change the way in which you buy and sell your coins, freeing us from the centralized exchanges and countless threats our cryptocurrency experience.  Control is placed back into our hands, providing you and I with a decentralized exchange for our decentralized crypto.

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