The only gateway to continued access to cryptocurrencies was to trade them on exchanges. If recent reports are to be believed, the crypto sphere is controlled by over 500 exchanges. These platforms were meant to be a channel for traders to buy and sell their digital assets. The centralized exchange was the first to be developed and a decentralized platform was quickly integrated. The irony is that the former became the premise for the success of the latter. This simply means that assets to be traded on decentralized exchanges must be transferred to centralized exchanges before they can be traded. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get Original Essay This procedure does not bode well for traders as their data is exposed and other culminating risks are bound to develop a stronghold. Although this scenario is not supported by many traders, centralized exchanges are actually not at fault. The main reason why assets had to be reported to the CEX before trading was that the available decentralized exchanges do not have clearinghouses or margin trading. Continuing with DEX attracts low liquidity as the platform may not scale when transactions are high. Likewise, the costs will be tripled and the only alternative would be to use the next platform: centralized exchanges. These and many other drawbacks, such as large spreads where the requested quantity cannot be supplied, are among the reasons behind the formulation of bZx. What is bZx? The platform was meant to be a solution to the overt focus on CEX when its counterpart, decentralized exchanges, could have done better if empowered. It was designed to address existing issues and ensure matching and settlements in centralized exchanges. It is relevant to note here that the platform is not an exchange even though it may seem like one. Instead, bZx is a protocol that has the ability to integrate with platforms that want to exploit the benefits of margin trading. It can be added to the current crop of exchanges and relays and in each of these cases, symbolic incentives would be issued. Exchanges and relays that integrate bZx will be empowered to offer margin trading and lending services to end users. bZx components have amazing features that hope to project the goals of the platform. There is the bZx. Js Library – a Java script developed library that has the tools needed to develop smart contracts that would be essential in recreating margin trading functionality on decentralized exchanges. The bZx smart contract functionality is in tandem with the platform's range of smart contract conceptualizations. The smart contract will liquidate ERC-20 traded tokens and result in on-chain margin lending. Finally, there is a web version of the protocol known as the bZx portal. Users who are not aligned with a relay or who do not trade on any exchange can leverage the portal to access margin trading. The portal uses the library to reduce margin services to those who need them. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a personalized essay. Oracles on exchanges are intended to direct transactions, but drawbacks such as low throughput had given rise to bZx Oracle – an oracle to..