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--- trade_portal_overview [11/16/2022 07:40] – gfactor
+++ trade_portal_overview [06/18/2025 20:15] (current) – crowetic
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 {{ :qortal_trading_portal_infographic_2020_english.jpg?direct&600 |}}
+=====This page is outdated, updates to it will take place over time. =====
+=== Information Related to the underlying workings of the 'Trade Portal' (The built-in trade platform of the now-deprecated Qortal UI) are the same as the underlying workings of Q-Trade. Both of them rely upon the Qortal Core and leverage ultimately the same API endpoints in the Qortal Core to make trades happen. This information being outdated does not apply to the underlying functionality of any of the TRUE cross-blockchain trades that are possible leveraging Qortal, and as such, has been kept here until more in-depth updates can take place. ===
 Qortal’s Trade Portal aims to remove the need for centralized exchanges and ‘decentralized exchanges’ which riddle the blockchain space with all sorts of flaws. That is not to say that all exchanges which claim to be decentralized are flawed, but surely most are. The idea of the Trade Portal is to provide true peer-to-peer (p2p) transactions between buyers and sellers without the need of the middle man by utilizing cross-chain trades in the form of the ‘ACCT’ SmartContract (Atomic Cross Chain Trade). The only authority over a trade taking place is solely between the buyer and seller! The custom trade bot for the buyer and seller automates the multiple stages involved in a true cross-chain trade so that the Trade Portal is as simple to use as any centralized service but without any of the associated risks such as 1) historically these exchanges have been prone to hacks and failure, and 2) depositing assets into a wallet or temporarily releasing control of assets during a trade.
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 The Trade Portal is a system that makes use of the ACCT system by the CIYAM developers (http://ciyam.org) with which to make completely cross-chain coin/token trades. The system currently allows for completely cross-chain trades between QORT and other coins so users NEVER RELINQUISH CONTROL OF THEIR ASSETS and never have to 'deposit' assets in order to make trades. This allows for COMPLETE SECURITY. Never again, will there be worry about centralized exchanges failing, and taking with that failure, users' assets.
-As time goes on, and development progresses, support for more third party blockchain coins will be implemented into the system. Also, Qortal will provide a platform for projects to build on Qortal and have their own token, so those will be available to Qortal's users in the Wallets and Trade Portal features. A token is a digital unit of value that represents an asset or utility. Unlike coins, tokens do not have their own blockchain and are issued on top of existing networks. So to clarify, QORT is not a token - it is a coin. Qortal is a stand-alone blockchain, it’s native asset QORT is therefore a coin. Assets built on Ethereum’s blockchain are tokens, whereas ETH is a coin itself. Therefore, projects with their own assets that are built on Qortal will be tokens by definition.
+As time goes on, and development progresses, support for more third party blockchain coins will be implemented into the system. Also, Qortal will provide a platform for projects to build on Qortal and have their own token, so those will be available to Qortal's users in the Wallets and Trade Portal features. A token is a digital unit of value that represents an asset or utility. Unlike coins, tokens do not have their own blockchain and are issued on top of existing networks. So to clarify, QORT is not a token - it is a coin. Qortal is a stand-alone blockchain, its native asset QORT is therefore a coin. Assets built on Ethereum’s blockchain are tokens, whereas ETH is a coin itself. Therefore, projects with their own assets that are built on Qortal will be tokens by definition.
 Votes in the system will be the primary factor as far as which new coins/tokens will be added, however, a vote is not a guarantee of listing, there will also be an independent verification done on the project pre-listing, to ensure only the most quality projects are listed in the Trade Portal. For now, we have two coins to provide a gateway to obtain QORT and the DevTeam can focus on other priorities.
-===== Atomic Swaps =====
+===== Atomic Cross-Chain Trades (ACCT)=====
-With Qortal, we are swapping directly between blockchains with absolutely no central component between them. This is known as 'atomic swaps'. True cross-chain swaps require multiple transactions to occur sequentially on each chain, and each of these transactions needs time to confirm before it moves on to the next.
+With Qortal, we are swapping directly between blockchains, in a truly peer-to-peer fashion, with absolutely no centralized component between them (no middleman or any risk of counterparty risk). This is commonly known as 'atomic swaps' but this terminology is often misrepresented in the crypto space - therefore we call them their true technical name: Atomic Cross-Chain Trades (ACCT). True cross-chain swaps require multiple transactions to occur sequentially on each chain, and each of these transactions need time to confirm before moving on to the next.
-The Trade Portal functions by making use of an automation system that creates and executes placement of ATs on behalf of the private key of a 'logged in' account. The account's 'bot' (for lack of a better term) takes the trade data from the user, and issues a SmartContract (AT, ACCT AT to be exact) that then awaits input from another user, then picks up on behalf of both users, to execute a cross-chain trade. All that is necessary for the user, is leaving their core running.
+The Trade Portal functions by making use of an automated system that creates and executes placement of Atomic Trades (or ATs) on behalf of the private key of a 'logged in' account. The account's 'bot' (for lack of a better term) takes the trade data from the user, and issues a SmartContract (AT, ACCT AT to be exact) that then awaits input from another user, then picks up on behalf of both users, to execute a cross-chain trade. All that is necessary for the user, is leaving their core running.
+When a user lists a sell order, their QORT is removed from their wallet and placed in an 'AT' - which is a trade wallet that the user still has control over. The user can either cancel the trade order and have their coin returned to their wallet, or wait for a buyer to select the order at which time the buyer's coin is withdrawn from their wallet via a 'Tradebot' which makes the exchange with the Qortal AT, ensuring there is a clean exchange.
+Check out the [[Trade Portal FAQ]] page!
 ===== Additional Notes =====
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 It is normal for cryptocurrency transactions to take a while and not be immediate. They take a certain number of "confirmations" before they become spendable in the receiving wallet. For LTC that can be 10 mins or so, but these projects are always evolving and aiming to speed up this process. Luckily QORT transactions are much faster. Also, if the other network has a lot of demand for transactions, it can take a while for it to even be processed and included in a block. Especially if the fee is low. So that can slow things down too.
+===== How To Use The Trade Portal =====
+Please go to the [[How To Use The Trade Portal]] guide!

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