When it comes to blockchain solutions in the crypto space, none are quite as enticing as decentralised trading technology. Traders are becoming tired of the reliance on large centralised crypto exchanges.
As a decentralised trading solution, nothing can be more enticing than being able to trade your crypto with somebody else on straight from your ledger hardware wallet. This is something that is now a reality thanks to the team at Radar Relay.
According to a medium blog post, they have officially finished their integration of Ledger. This is on top of the already supported MetaMask browser integration on the Radar Relay protocol.
Although there are already decentralised trading platforms such as the Waves, this is the first time that a decentralised exchange has allowed the traders to transact directly out of a hardware wallet.
What is Radar Relay?
Radar Relay was built on top of the 0x protocol that was officially released last year. It allowed users to trade in a decentralised fashion all ERC-20 tokens. 0x also managed to raise a large amount of VC funding last year as well as run a successful Initial Coin Offering (ICO) in August last year.
Radar Relay for its part was able to raise $3m in venture funding almost a month ago. The round was led by VC investors such as Blockchain Capital, The Digital Currency Group and Kindred Ventures among others.
These funds were to be used to expand the developer team and the company was hoping for a Beta release in the first quarter of 2018. Hence, it seems as if they are well ahead of schedule with this announcement.
The announcement did not go unnoticed. Many took to social media to express their excitement of ledger-to-ledger trading.
So to extrapolate.. this allows decentralized exchange trading straight from hardware wallet storage, no middle entity required. What’s the future, if not this? This is for all @RadarRelay supported pairs! Amazing. https://t.co/P85CwObQEx
— Ledger for Senate 🇺🇸 Prometheus of the Plebs (@ledgerstatus) January 18, 2018
Benefits of Ledger-to-Ledger Trading
Apart from the convenience that comes from trading your ERC-20 tokens directly from your wallet, it also appears as a much safer option than there are through the current status quo of decentralised exchanges.
For example, there was the recent EtherDelta DNS hack that led to many users having their private keys phished. This was mainly as a result of EtherDelta having to rely on the centralised DNS server.
If they were using the radar relay with Ledger, they would not have to rely on accessing the trading books from their browser. Hence, they would have avoided the compromised servers of a site like Ether Delta.
For those early adopters out there, the step by step instructions for the integration are given in the blog post by Radar Relay.
Featured Image via radarrelay.com