UPSIDES TO JOIN KEPLERSWAP DEX
November 3, 2021 by Joshua Asuquo Nya

UPSIDES TO JOIN KEPLERSWAP DEX
An upside is known to be highest and uppermost side or portion that is capable of convincing you on something. In its simplest form, it can be seen as the benefits, privileges, advantages, perquisites, good points or even rewards that is able to change your perspective positively towards accepting something for a change.
In this article, we’ll take a dive into decentralized exchanges (DEXs), trading venues where no intermediaries are required.
What is a DEX?
DEX is an acronym which means decentralized exchange (DEX). It is known to be a peer-to-peer (P2P) marketplace that connects cryptocurrency buyers and sellers. In contrast to centralized exchanges (CEXs), decentralized platforms are non-custodial, meaning a user remains in control of their private keys when transacting on a DEX platform. DEXs are similar to their centralized counterparts in some ways but significantly different in others. Let’s first note that there are a few different types of decentralized exchanges available to users. The common theme among them is that orders are executed on-chain (with smart contracts) and that users do not sacrifice custody of their funds at any point.
Some work has been done on cross-chain DEXs, but the most popular ones revolve around assets on a single blockchain (such as Ethereum or Binance Chain).
On-chain order books
In some decentralized exchanges, everything is done on-chain (we’ll talk about hybridized approaches shortly). Every order (as well as alteration and cancellation) is written to the blockchain. This is arguably the most transparent approach, as you’re not trusting a third party to relay the orders to you, and there’s no way to obfuscate them.
Unfortunately, it’s also the most impractical. Since you’re asking every node on the network to record the order forever, you end up paying a fee. You need to wait until a miner adds your message to the blockchain, meaning the experience can be cumbersome, too.
Some identify front running as a flaw in this model. Front running occurs in markets when an insider is aware of a pending transaction and uses that information to place a trade before the transaction is processed. The front runner, therefore, benefits from information not known to the public. Generally speaking, this is illegal.
Of course, if everything is published on a global ledger, there’s no opportunity to front run in the traditional sense. That said, a different kind of attack can be deployed: one where a miner sees the order before it’s confirmed, and ensures that their own order gets added to the blockchain first.
Pros of DEXs
In this section, I’ll do well to touched on some of the advantages of DEXs in broad strokes. The pros are explained better below:
No KYC
KYC/AML (Know Your Customer and Anti-Money Laundering) compliance is the norm for many exchanges. For regulatory reasons, individuals must often submit identity documentation and proof of address.
This is a privacy concern for some and an accessibility concern for others. What if you don’t have valid documents on hand? What if the information is somehow leaked? Since DEXs are permissionless, no one checks your identity. All you need is a cryptocurrency wallet.
However, there are some legal requirements when DEXs are partially run by a central authority. In some cases, if the order book is centralized, the host must remain compliant.
No counterparty risk
The primary appeal of decentralized cryptocurrency exchanges is that they don’t hold customers’ funds. As such, even catastrophic breaches like the 2014 Mt. Gox hack won’t put users’ funds at risk or expose any sensitive personal information.
Unlisted tokens
Tokens that aren’t listed on centralized exchanges can still be traded freely on DEXs, provided there’s supply and demand.
On the decentralized exchange platform, fees for exchange transactions are not that hightened, making it very affordable when swapping from an asset to the other.
So now back to KeplerSwap, it is a project that also has its own decentralized exchange (DEX) where transactions can be carried out easily, safely, affordably and profitably. All the upsides such as the use of smart contracts, no form or intermediaries or middlemen when carrying out any transactions, No KYC (protocols), low transaction fees, even being able to trade tokens that have not been listed on the CEX (centralized exchange) are seen in KeplerSwap DeFi 2.0 project.
Thank You!!!

--

--

--

crypto technician, crypto enthusiast, NFT Artist, graphics designer , video editor, marketing strategist, marketing analyst, social media influencer.

Recommended from Medium

How to collect NFTs?

Chainstake DEFI CD token is now officially listed on World Coin Index

Upbit hackers sent more than 59K ETH to Binance/ US banks can take custody of crypto assets now/…

Since it took me some time to channel through what was useful and what wasn’t, I figured others…

What Will Your Polkamon Be? Understanding Rarity.

Comparison of PoW, PoS And DPoS Governance Models

Moat — Strong Business Advantage

GISTCOIN — A utility token For All Influencers, Streamers, Musicians, Artists, Brands And Content…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Joshua nya

Joshua nya

crypto technician, crypto enthusiast, NFT Artist, graphics designer , video editor, marketing strategist, marketing analyst, social media influencer.

More from Medium

The Psychology of how Video Games Engage Players — Exploration from a Coach

BUSTA FRENS UPDATE

Fandrum — Celebrating the Ultimate Entertainment