The title for BestDapp goes to...AtomicDex

By beareader | cryptopinion | 30 Nov 2019


AtomicDex is the only mobile-native non-custodial, really decentralized exchange out there and it’s because it meets the 4 Core Requirements of a True DEX.

  1. A true DEX must be non-custodial.
  2. A true DEX must have a cross-chain and on-chain protocol
  3. A true DEX must be permissionless 
  4. A true DEX must be asset agnostic

 

1. A true DEX must be Non-Custodial

All the exchanges you subscribe to ask you to deposit so you can trade your tokens or coins with others, in doing so you lose control over your assets because in crypto the following is true "not your keys not your coins", as a matter of fact, the CEXs like Bittrex, Binance, and others do always the same thing: they ask you to deposit your funds in their big fat wallets promising they have the most secure setup or that they have insurance that covers everything, well guess what: they are lying.

In the world of crypto trading, the only real safe way to keep your asset under your control is to have them 24/7 in a wallet for which you keep the keys, in the year 2018 only almost 1 billion in crypto assets where stolen from exchanges and that's in American dollars, Bithumb, Cryptopia, Coinbene, Gatehub, Bitpoint, Bitrue, recently Upbit and to not forget about Quadriga where allegedly, the owner died and all the funds of the exchange were lost. AtomicDEX is the BestDapp because creates an honest and safe trading environment, no big vaults no big heist!

 

2. A true DEX must have a cross-chain and on-chain protocol

What is a cross-chain swap? simply put you trade a coin from one blockchain with some from another blockchain like you can exchange BTC for LTC. 

 

All the claimers to the DEX title out there fail to get it legitimately because they usually just let people trade tokens from one or more chains but not across them, like ERC token on ETH chain or TRX, or EOS tokens.

So then what is an on-chain swap? well this means that when something is traded there is a ledger on the blockchain that makes the trade effectively verified by each own blockchain's decentralized network connected to each trader's wallet, making the trade more cost-effective, coding a true DEX is much harder to develop, that's why they use a centralized match order system.

 

3. A true DEX must be permissionless

If you need to be authorized to use it via KYC or other regulations then it is not a DEX, decentralized means that everybody without exception can use it and it should be impossible to block anyone from using it.

Exchanges are starting to block users from certain countries, this goes against everything decentralization means. A true DEX has no central authority, it is simply a digital marketplace connecting, with open source code, one peer to another.

 

4. A true DEX must be asset agnostic

Even the biggest Exchange cannot possibly have all the trading pairs that are needed so almost all of them are paired with BTC, ETH and maybe some stable coin, well this is because every trading pair takes time, resources and these are finite so they can't offer what a true DEX can, the possibility to trade ANY asset with ANY other asset, with just 150 assets listed the number of possible pairs is 11,325. 

AtomicDEX is the BestDapp because is the first true DEX out there

  • it is mobile native
  • multi-currency
  • it's secure
  • trustless
  • has unrestricted trading pairs
  • let you avoid deposit and withdrawal times
  • has low fees only 0.15% for takers moreover
  • it has a shared liquidity pool created by the AtomicAPI so all the products using it share the same liquidity
  • you can place multiple orders with the SAME funds
  • it's possible to do multiple swaps simultaneously on a single device.
  • very easy to use, grandma-ready

 

Komodo platform developed AtomicDEX with incredible technology and smart thinking, it is even very easy to use, it is now in open beta with only a few currencies and stable coins but the development in there is pretty fast and soon hundreds of cryptos will be swappable.

 

I hope you all consider going to the safe side of crypto.

How do you rate this article?


0

1

beareader
beareader

Crypto enthusiast, freedom searcher.


cryptopinion
cryptopinion

Opinions on cryptocurrencies.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.