Are decentralized exchanges the future of cryptocurrency exchange/trading?

Absolutely, decentralized exchanges are going to be the future in the crypto world. This can be easily explained. Certain features in the decentralized exchanges such as the blockchain integration, acting as a trade match engine, high security, P2P services, unalterable data etc. act as the main feature that increases the uniqueness and the need for the Decentralized exchanges.

Involvement of Blockchain makes it more secure. Blockchain technology is a system where the transaction details of cryptocurrencies (digital currencies )will be stored in the blocks and these blocks will be updated in the distributed database/ledger in a particular network. The users in a particular network can be called as the nodes. These nodes get updated with the blocks once its been created in any part of the network. This is the major reason because of which blockchain is immutable.

Lets take a scenario where a hacker want to hack and mutate the information in the blockchain, but it won’t be possible for the hacker to hack each and every node and change the data. This ensures security in the transaction mode. The complete information in the blockchain will be written in Cryptographic codes. Further, the blockchain will be differentiated based on the hash codes present on the blocks. You also need to remember that Blockchain technology was initially developed in order to facilitate the digital currency (Cryptocurrency) transactions.

The cryptocurrency are normally traded between two different entities through centralized and Decentralized exchanges. The centralized exchange is like a centralized bank that facilitates transactions by charging a certain amount of fees and Decentralized exchange which acts as a trade match engine is where blockchain is implemented.

Guess, you would have got an idea for why decentralized exchange will the future of cryptospace. There are also business modules that one can adapt to in order to start a business in the crypto world. Entrepreneurs can easily launch a decentralized exchange platform and run their business easily.

Development of Decentralized Exchange Platform!!

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