Decentralized exchanges. Relictum DEX as a vivid representative of the sector

Blockchain features, such as decentralized nature and the ability to record immutable peer-to-peer transactions, have proven that this technology can improve the existing trading and exchange structure. The advent of the latest technology, advanced software and high-speed Internet access can significantly improve traditional trading systems. However, investors were facing some problems until the blockchain brought real technological progress.

Blockchain has introduced the ​​decentralization idea to many industries, including commerce and finance. The only way of making transaction used to be centralized exchanges such as banks and financial institutions controlled by centralized authorities.

The centralized trading platform takes a long time to complete the exchange process and confirm transactions. Now the time-consuming approach to trading and exchanging crypto assets seems unconvincing to people, as everyone is limited by their time resource.

Companies migrate their existing solutions to the blockchain in order to overcome the prevailing problems in the traditional trading system. This helps them gain a competitive edge and leverage high efficiency, transparency, and security. The main concept of blockchain is to transfer control and decision-making power from a centralized system to distributed networks, which is the best way to avoid manipulation of records and fraudulent activities.

Since this is about the innovations brought by blockchain to the global trade structure, it must be noted that DEX is an exchange that operates on the basis of a distributed ledger in the first place; it does not store funds and personal data of users on its servers and acts only as a platform searching for matches among buy or sell orders for user assets. Trading on such platforms occurs directly between participants (peer-to-peer) without any financial intermediaries.

Relictum DEX is the best example possessing all the advantages of a decentralized exchange

We have already reviewed Relictum DEX as the brightest representative of decentralized exchanges, as it is actively developing and possesses all the advantages of competitors, but lacks their drawbacks.

The past week was marked by another successful iteration of the exchange testing and the achievement of the goals set in the development of reliable and convenient tools for the user interaction with the product.

Each successful round of testing brings Relictum DEX closer to the public launch and the opportunity for Relictum Ecosystem followers to use the product with undeniable advantages:

–         use of the smart contract technology without centralized management;

–         KYC is not required. Trading occurs anonymously;

–         DEX provides strong security as validators check every transaction;

–         decentralized exchanges are becoming more popular and more visible than centralized exchanges;

–         users are the only ones responsible for security, as they use their private keys from wallets for their intended purpose;

–         lowest fees and zero fees in certain cases;

–         there is no centralized authority that can impose restrictions on your funds and operations.

The Relictum DEX testing is coming to a successful completion, which will make it public and open all the advantages of this type of crypto asset exchange.