INTRODUCTION.
The first blockchain technology created in 2008 that housed the first cryptocurrency "Bitcoin" wasn't taken serious until late 2016 when few investors began to see the future potential that it offers and by 2017, the crypto space is already filled with more people than it started with as more geniuses, professionals and organizations started to make use of and create their own blockchain and cryptocurrencies. According to coinmarketcap.com in late 2017 cryptocurrency market cap rose as high as 300 billion us dollars with Bitcoins holding up to 50% of the total cap, it is indeed a great success as it helped boost the finance sector.
However, in mid/late 2018 the storm raged and cryptocurrency began suffering loses as big investors and companies started pulling out their investment and till now, the crypto space is yet to recover from this terrible downfall, but even with this downfall the masses are still eager to learn more about blockchain and cryptocurrency and aren't giving up hope on its resurrection as 2018 saw the highest crypto adoption globally.
The crypto space is filled with millions of cryptocurrencies (both token and coins) including upcoming ICO's the need for a digital asset exchange platform is highly needed. A digital asset exchange platform is an online based platform where anyone can buy, sell and swap their own coins either for fiat currency or for another cryptocurrency.
Although there are hundreds of digital asset exchange platforms scattered all over the internet but they can only be classified into one of the two kinds of exchanges which are; Decentralized and Centralized Exchange. So, no matter how many exchanges are crawling all over the internet they can be classified into one of these two exchanges.
Centralized Exchanges: This type of exchange is the most common type of exchange in the internet. In a centralized exchange, there is a trusted "middle-man" who is available to handle participants trading asset and it also possess cool advantages such as; being easy to use, advanced trading options and functions, possesses strong advantage in offering better liquidity, matching speed is very fast and these kind of exchange is flexible.
But the disadvantage it has is effective than its advantages and it can even lead to loss of user asset. These disadvantages are; user data is exposed and thus at risk of being scammed, the "middle-man" charges high fees from users due to the service they render, thus making transaction fee very high.
Decentralized Exchange: This is any type of exchange that is being run automatically by inbuilt machines in the exchange, an exchange of this type collects little or low transaction fees as there isn't any "middle-man" who is delivering out their service for payment and it is completely based on the distributed ledger technology also offers maximum security to user assets.
The team that created the DEEX platform are crypto and blockchain analyst and professionals that knows that a decentralized exchange platform will favour the crypto space and this decentralized exchange platform is carved out from Bitshares 2.0.
What is Bitshares 2.0?
Bitshares 2.0 is a highly advanced, decentralized blockchain based platform which permits to create highly efficient financial smart contract for every aspect of economic activity that are used in global internet space to provide services. And it is where and how the DEEX Platform is formed , thus making Bitshares the foundation of DEEX.
Bitshares 2.0 possesses great advantages and it as well works so on every other smart contract created from it, these advantages are;
- It is capable of executing 100,000 transaction per second, thereby possessing a high performance advantage.
- It is decentralized.
- For corporate environments, dynamic accounts are permitted.
- Authenticated users can profit from the referral rewards program.
- Low transaction fee.
- Bitshares 2.0 makes use of Delegated Proof Of Stake (DPOS) concensus algorithm- which is the fastest, most flexible and lost efficient decentralized consensus model.
In my next article, I will explain further on the DEEX Platform, it's functions, advantages and learn what makes it different from the traditional exchanges.
For more information, visit the links below;
Website: https://www.deex.exchange
Telegram: https://t.me/deex_exchange
YouTube: https://www.youtube.com/channel/UC5oYUk9QC4kbM5ZBpodOUcQ
WRITER'S INFO
Bitcointalk username: Beneze
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2190968;sa=summary