Secure DApp built on Solana reinvents cryptocurrency trading
In the last year, more people than ever before have taken to cryptocurrencies as a medium for investment. It is estimated that this amount is more than 100 million people, including a growing number of Gen X-ers and baby boomers, two groups that were previously skeptical of its place. As a result, trading volumes have reached new all-time highs with volumes of an estimated $3.8 trillion.
Many have come to know the value of decentralization in their holdings and monetary transactions, making DEXs a popular choice against a traditional centralized exchange (CEX). A DEX, or decentralized exchange, replaces centralized authorities with an automated protocol so that users do not risk losing control of their assets to the exchange’s servers, effectively restoring ownership.
Despite their ongoing success, DEXs continue to be affected by several significant challenges, including their exclusive operation on smart contracts. This concern comes down to decentralized exchanges operating on-chain and becoming subject to the scalability trilemma, resulting in higher fees and reduced efficiency compared to their centralized counterparts. As a result, most DEXs offer limited liquidity making asset prices inefficient.
Additionally, these exchanges still face the considerable challenge of being difficult to use, making their usability a significant barrier to adoption. If these concerns didn’t present enough challenge, the last year has also demonstrated the growing number of cyber thefts and other hacks possible without proper security protocols.
While DEX’s have yet to solve the many security challenges of CEXs, the cryptocurrency trading industry is continuing to grow, making the demand for a solution that can address the advantages of
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