the phenomenon of the emergence of Bitoin, the exchange of digital currencies began to grow rapidly. The mechanism of making digital currency automatically slowly begins to remove the control of private banks, through Decentralized Exchange or DEX, everyone can enjoy digital currency exchange into real currency. But the constraints faced today, in general, the exchange agency is still adopting the traditional system. Where the system's defense can be penetrated by hackers, as happened several months ago in Japan.
what will happen if a system is built with the control of money to its owner without having to go through a third party? DEX is built with a system of blockchain, centralized easy-to-use digital currency exchange, many advantages can be gained from DEX systems, especially to avoid the risk of hacker attacks. Like Ethereum and Waves that have special features that can apply DEX to their users, DEX will keep crypto owners out of big losses. Not only from the security side, but also avoid losing coins and tokens from bankruptcy exchange. Within a year, some cases of exchange break-ins have harmed the user for losing assets. While the powerful exchange agencies continue to add and maintain their systems to avoid break-ins of billions of dollars.
DEX is a decentralized currency exchange. It is a foreign exchange market that does not rely on third-party services to hold any customer's funds. Trading in this system will be established directly between users automatically with the Peer to Peer system, DEX can work by issuing tokens or crypto assets representing specific fiat and crypto currencies. These assets may represent shares or through a decentralized multi-signature escrow system. Each user can make deposits and exchange issues IOUs that can be traded freely on the DEX platform. All assets can be withdrawn at any time and converted back to crypto option.
Here are some benefits to get when using DEX:
until now there are several platforms that provide the DEX system, namely Bitshares, Waves Platform and Radar Relay. Waves platform can be directly used by registering wallet, the features available in addition to exchange are Portfolio, Leasing and Token making. Radar Relay uses the Metamask app that requires the Ethereum ERC20 wallet. This platform provides exchange features and without having to register, just use Metamask only.
