NEO Network Congestion

exchange

(Kelvin Fugara) #1

We have been experiencing NEO Network Congestion recently, the nOS ICO is halted for a while, because of this problem, how is Neon Exchange prepared for the Problem like this, during its operation on mainnet? @canesin @ethan


(Ashrith) #2

Nex is independent of neo blockchain. so just a cex neonexchange will also have problems to deposit and withdraw funds during network congestion. but you can trade neo or any nep5 with the funds you are trading even during network congestion.


(Kelvin Fugara) #3

@Ashrith , Do you mean NEX is not built on Neo?


(Ashrith) #4

yep, nex token will be nep5 just for staking things. neonexchange dont run on neo.


(Kelvin Fugara) #5

Then it is running on what environment @ashrith @canesin ?


(Ashrith) #6

@BaClaire i think this should help you


#7

@Ashrith That’s incorrect. Unlike a cex, nex trading could slow/stop if issues with neo or ethereum blockchain. Trading is done via matching engine but has to be sent to network to finalise


(Ashrith) #9

@CryptoUK1 as far as I understood we should not have any issues from the congestion . Let’s wait for @canesin @ethan comments


(Kelvin Fugara) #10

in this video Fabio is talking about the future plan, about NEX having its own Chain, as far as I know for now NEX in on NEO, @canesin @ethan can help us with this


(FCC) #11

@Ashrith is correct @BaClaire and @MEGATRONxONE. You would have mostly problems to deposit and withdraw from the trading system. Since withdraws can be issued directly to the chain there need to be QoS system to monitor congestion, but not every congestion will result in slow down or stop of trading.


(Ethan Fast) #12

Yes, to echo Fabio, almost everything with NEX exchange happens off-chain. Deposits and withdrawals from the trading smart contracts are the only thing that would be impacted by network congestion on Ethereum or NEO. So once your funds are in the trading smart contract, performance of trades and markets is not much changed by a slow network.

@CryptoUK1 nothing has to be sent to the network to finalize, and yet it is still safe and non-custodial, this is what is so cool about the system we have designed

@BaClaire NEX is not really running on any blockchain, it is running off-chain. the only thing we need blockchains for is settlement and validation of a final user withdrawal. we have designed off-chain protocols for secure interaction with your trades and funds without communicating regularly with smart contracts


#13

@ethan Ah ok i understand better now.

How about if Neo blockchain comes to a halt, it would prevent new “deposits” from our wallets right? So while tokens already there can be traded, would really limit the potential number of trades?

And should those traders be done trading, trading would stop completely as no new funds could enter?


(Ethan Fast) #14

Yeah, that is correct. If NEO or Ethereum is down for long enough, that will prevent new funds from entering the system and result in less trading activity. But it does not effect overall exchange trading performance


(Kelvin Fugara) #15

Thank you @ethan for the clarification, I appreciate it.