I would like more details about the project. The developers told what they want to do, but they did not say how they would do it. Yes, there are problems, I want to create a perfect exchange system, also, so that there are no problems with the transfer to FIAT.
Yes, of course, we’re developing peer to peer platform for exchanging cryptocurrencies to real money via escrow based on Ethereum’s smart contracts.
The smart contract allows users to safely exchange ether with one another. Smart contract works as a third address that holds money until buyer of ETH sends money to seller of ETH. It could be any possible way to send money from one person to another like: card to card, SEPA, bank transfer and etc. Technically SimpleDEX would consist of two main parts: web view part for storing, editing and viewing orders (intent to buy) and blockchain part for validating exchanges and transferring assets. The main working principle of this platform is end2end encryption: all the requests for transferring assets are signed on fronted and checked only on blockchain. So, web view part and that’s why SimpleDEX operation team wouldn’t have access to your keys.
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