What is Decentralized Exchange?
A decentralized exchange is an exchange market that in no sense rely on third-party services for transactions or holding customers funds. It enables the user to trade peer-to-peer through automated processes.
This process can be achieved by creating proxy tokens or assets or through a decentralized escrow system.
This system contrasts with the current centralized model in which users deposit their funds and the exchange issues an IOU that can be freely traded on the platform. When a user asks to withdraw his funds, these are converted back into the cryptocurrency they represent and sent to their owner.
The most obvious benefit to using a decentralized exchange over a centralized one is their "trustless" nature. You are not required to trust the security or honesty of the exchange since the funds are held by you in your personal wallet and not by a third party.
Furthermore, the hosting of decentralized exchanges is distributed through nodes meaning that there is no risk of server downtime.
If you are looking to develop a decentralized exchange software, then get in touch with opula software today.
For more information, please connect with us at firstname.lastname@example.org
Note: Please mention "Bitcoin Forum
" on the subject line.