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Welcome to the Project TXA docs, here you'll find detailed information about the project.
Project TXA is building a global settlement layer for digital asset exchanges.
Imagine how current centralized exchanges work, you deposit crypto, all the trades happen behind closed doors on their proprietary servers, and then you just accept the trading fees or withdrawal fees.
Decentralized exchanges on the other hand are great, but slow, you're always limited by the speed of the underlying blockchain in some way.
Project TXA is on a mission to change all that, it is building a hybrid-decentralized exchange (hDEX), the experience of a fast centralized order book is still there, but we're giving custody and control back to the users.
What if we could create a decentralized network of collateralized funds, and handle settlement in a decentralized way?
- Users can deposit crypto into smart contracts they control, instead of the centralized exchanges.
- Collateralization of funds in smart contracts can be done on any blockchain, and locked assets used to trade on any supported exchange.
- All matched trades are transparent and broadcast to a decentralized network, allowing third-party providers to track the net obligations between counter-parties.
- When users want to withdraw, they can call for settlement on-chain, third-party providers reach consensus on the obligations between traders, and write the results on-chain.
In the Project TXA hybrid-DEX (hDEX), trades are broadcast to a network of open-source, community operated Settlement Data Providers (SDPs), these track net obligations between traders and participate in a special consensus process to settle trades.
These SDPs are off-chain and can connect to any blockchain they choose. It's a decentralized network of special providers that are similar to blockchain miners or PoS blockchain validator nodes. In the same way that miners collect broadcasted transactions, and create blocks for a fee, SDPs collect broadcasted trades, and participate in settlements for a fee.
Project TXA is creating a blockchain agnostic, generic, and global decentralized settlement layer. Which can settle any collateralized asset, on any chain; as long as there is a centralized order book that matches trades and broadcasts it transparently. The decentralized SDP network reaches consensus on all obligations in the system, and enforces fair settlement.
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