Co-DEX: decentralized exchange of the future
to join the project, your CO-DEX must read information that will help you get information that can help you see your vision and mission
Currently, there are a huge number of cryptocurrency exchanges, including decentralized ones.
Decentralized exchanges are very convenient to use since you do not need to undergo mandatory registration, undergo KYC verification and other inconvenient additional procedures. Such exchanges are completely confidential. On a decentralized exchange, you can create a user account in a few seconds using your private key to an existing wallet or by creating a new wallet on this exchange. All further actions, such as deposit, trading and withdrawal, depend only on the network load. Placement of orders, in this case, is practically no different from placing orders on ordinary exchanges. The decentralized exchange does not save the keys to user wallets, and thus, your funds are more secure than on a regular exchange. On decentralized exchanges, it is much more difficult to use trading bots to boost volumes, which makes the market picture more transparent.
But there is a lack of decentralized exchanges. As a rule, trading volumes on these exchanges are significantly lower than on conventional exchanges. It is the turnover that attracts traders to use one or another exchange.
The decentralized exchange Co-DEX has found a solution to attract a large number of users thanks to the use of not just one blockchain, but many existing blockchains on the platform. This was made possible by using the innovative IBC function created by the Cosmos network.
The platform of the Co-DEX decentralized exchange involves building its work on the Cosmos blockchain network, which will create additional benefits for this exchange. Among these advantages, the following can be distinguished:
The advantages and disadvantages of decentralized exchanges
Decentralized exchanges operate in a decentralized way, that means without a central authority. Such method gives traders a list of advantages:
- It allows peer-to-peer trading of cryptocurrencies (it uses a distributed application architecture that partitions tasks or workloads between peers);
- It reduces the risk of theft from hacking of exchanges (thanks to the fact that users don’t have to transfer their assets to the exchange);
- It can prevent price manipulation or faked trading volume through wash trading (when an investor simultaneously sells and buys the same financial instruments to create misleading, artificial activity in the marketplace);
- Decentralized exchanges are more anonymous than exchanges which implement KYC (“know your customer”) requirements where you have to give personal data.
There are also some disadvantages of decentralized exchanges: low trading volumes and market liquidity. New protocols for building decentralized exchanges attempt to solve these problems.
Co-DEX: a new approach to the creation of decentralized exchanges
Co-DEX represents the first NO FEES decentralized digital asset exchange based on Cosmos Network. This platform is built by the community and for the community. According to a no fees policy of transactions, the users being required to cover solely the transaction cost of the miners and/or validators that register the action on the blockchains.Co-DEX appreciates the needs, concerns and wishes of all the individuals that together encompass the idea of community. Events and airdrops, bounty programs and rewards, the focus on personal experience will help people to feel part of the project. And Co-DEX tries out new ideas to reward people within the community.After the registration a new wallet or signing up with a compatible wallet on Co-DEX exchange, you will be able to choose from a multitude of tokens and cryptocurrencies. Then you will be able to trade cryptocurrency assets securely and swiftly, using a smart contract.
The cryptocurrency of Co-DEX is named COD1 Token. IDO starts in Q4 2019. The amount of tokens during the contribution will be 100,000,000 coins. The usage of this cryptocurrency on Co-DEX is connected with several advantages:
- Very fast operations
- Absence of blockchain fluctuations
- Protection of the identity
- Zero fee transactions
- Global system and security
Launch of decentralized exchange platform, launch of COD1 IDO and hosting other IDOs are planned to take place in Q4 2019. You can get to know more about the project and its goals thanks to these links:
Website: https://co-dex.network/
White paper: https://co-dex.network/co-DEXWP.pdf
Twitter: https://twitter.com/CoDEX_Social
Facebook: https://www.facebook.com/co.dex.decentralized.exchange
Reddit: https://www.reddit.com/user/Co-DEX
Steemit: https://steemit.com/@co-dex
Telegram: https://t.me/CO_DEX
Author : kemi123
Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=2692033