Smooth and secure crypto trading? This perpetual DEX is up for the challenge
The blooming blockchain sector is tightly reliant on crypto exchanges. The trade of crypto assets keeps the industry flowing, and exchanges are a vital link. However, as the blockchain sector strives for constant development with decentralized transparency, exchanges have a long way to go. Moreover, recent history has shown many problems related to the stability and even the safety of these exchanges. So what can be done to bring exchange technology to the next level?
Crypto exchanges are distributed into two camps: decentralized exchanges (DEXs) and centralized exchanges (CEXs). Besides the difference of two letters, these exchanges also differ significantly in their mode of operation. Decentralized exchanges offer direct peer-to-peer transactions without an intermediary or custodian handing over fund management.
Centralized exchanges, however, lack this independence. Moreover, the centralized foundation these platforms rely on makes them more vulnerable to hacks and other kinds of attacks. For this reason, CEX platforms are constantly finding themselves in the spotlight for mishandling customer funds, such as the notorious case of the now-bankrupt FTX.
Besides advantages at the fundamental level of a decentralized trading platform, a DEX often comes with benefits such as higher token availability, higher anonymity and reduced counterparty risk.
Although the transition to the decentralized direction of crypto exchanges might sound like a no-brainer, it is more complex than it looks. To get there, DEXs need to overcome multiple drawbacks and challenges. With a complete solution still under development, using a DEX for trading requires users to have some technical knowledge.
Firstly, the DEX user needs a wallet capable of
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