Create DEX Platform With Bitdeal’s Decentralized Exchange Script

Article about Create DEX Platform With Bitdeal’s Decentralized Exchange Script

Published by

Jul 29, 2021

Decentralized Exchange is a kind of cryptocurrency exchange that allows users for peer-to-peer cryptocurrency transactions to take place online securely and without the need for a middleman. Users do not need to transfer their cryptocurrencies (digital assets) to the exchange. It reduces the risk of theft and hacking of centralized Exchanges.

How Decentralized Exchange Works :

Decentralized Exchange Works on Different Approaches. The Transactions are complete without an intermediator. DEX supports only Crypto - Crypto Trading. In Decentralized exchange everything is based on Smart Contract.

Atomic Swap :

Atomic Swap is a technique that allows the quick transaction of two different cryptocurrencies running on definite blockchain networks. Atomic swap based on smart contract. So, atomic swaps are mandatory, peer-to-peer trades across different blockchains.

On-Chain Order Book :

In Some DEX Platforms, everything is run on-chain. Every order is written to the blockchain. This is the most transparent approach, as you are not trusting an intermediator to relay the orders to you and there is no way to confuse them.

Automated Market Maker:

Automated Market Maker is a method that provides liquidity to the exchange it controls through automated trading.

Pros of Decentralized Exchanges:

  • No KYC
  • No Counterparty Risk
  • Unlisted Tokens

No KYC : There is no KYC Verification in DEX Platform

No Counterparty Risk :The primary purpose of decentralized exchange is that they don’t hold customer assets.

Unlisted Tokens : Based on Supply and demand you can trade freely on dex even the tokens that arent listed on centralized exchange.

Difference between centralized, decentralized and P2P Cryptocurrency Exchanges

source from: decentralized exchange development company | Bitdeal

Why use Decentralized Exchange

  • Security

  • Control Over your Funds

  • Privacy

  • Financial Inclusiveness

What Bitdeal Provides:

  • Decentralized Exchange Script

  • Decentralized Exchange Software

  • Decentralized Exchange Application

  • DeFi-Based Dex

  • Smart Contract Development

  • Crypto Wallet Development

Bitdeal’s Decentralized Exchange Script Features :

  • Multiple Crypto Pairing

  • Hardware Wallets Integration

  • Quick and Safe

Articles authored by alex jaxon

Published: Sep 8, 2021