Digitex and Blockster are sister companies, and their integration provides opportunities to share technologies. Thus, we will show how those synergies are being implemented.
As you know, Blockster is a social media platform for crypto enthusiasts, and an integrated wallet is critical for such a product. It will allow companies, organizations and users the ability to interact with cryptocurrencies on Blockster doing transfers and swaps.
Digitex wallet is fully functional, and recently our developer Nikita Vysotskyi made a full code refactoring.
There will be no fees when transferring between Digitex and Blockster accounts, as well as among users on the same platform. Those interactions will take place off-chain.
In time, we will also be adding a crypto converter, which looks similar to the existing one in Digitex — but improved, with new features for users and behind the scenes. Thus, every basic functionality from a regular exchange is embedded on Blockster.
Blockster Users and the BXR token
As mentioned on Blockster’s whitepaper, the BXR token is the only accepted currency for advertising on the platform. The second release should fully implement that. Moreover, users will be able to tip content creators.
On the third release, users will be able to pay for services within Blockster, including the NFT marketplace and games. Companies will be disposed to offer their products and services, so BXR will effectively function as a ‘medium of exchange.’
At what stage the wallet development is?
According to Tetyana Shpakovych, Blockster’s Product Manager, the wallet is being designed, and the tech specs are almost in place.
Aleksei Veledinskii, Digitex Product Owner, explained that the backend would be similar to the current exchange software, but composed of fewer applications.
An external application will connect users’ Main Account balances with Blockster, while contents from the Trading Account remain separate and visible only on the Digitex Exchange side.
If a Digitex trader wishes to use funds on Blockster, he can easily transfer crypto from his Main Account. Funds will be immediately available, free of charge. The opposite way of transferring cryptos from Blockster to Digitex works the same.
To transfer funds between different users, even from Digitex to Blockster (or vice-versa), the Internal Transfer feature will be triggered.
What are the synergies for Digitex?
Blockster will be a good traffic source for Digitex, and the synergy works both ways. In the future, every Digitex spot market can be integrated into the social network.
We know that there are not many coins currently listed at Digitex, and that’s why we are focused on our trading API refactoring. We will give more details next Friday.
How does the wallet convert between different cryptos?
Aleksei explains that using a simple “swap” interface, users will be able to literally exchange cryptos. After the quote and slippage are displayed, the user will have some time to decide whether or not to complete the transaction.
Tetyana Shpakovych, Blockster’s Product Manager, mentioned that this should be implemented by the last quarter of 2021. She then added, “Since we are a crypto platform, we must offer this interaction with crypto. This is an essential service that we should be providing to our users. Firstly, the ability to store and transfer digital assets, and secondly, the conversion to different cryptos.”
She explained how users can monitor token prices at Blockwatch, compare data, and analyze charts; thus, it makes sense to transact on the same platform immediately.
There are many synergies between Digitex and Blockster, as we follow one simple rule: products must complement each other, sharing their strengths. Digitex offers wallet and trading technology, which is now being integrated with Blockster.
Bye! See you next Friday with Dev update #3.