In today’s world, everyone well known about What is Cryptocurrency?, Because this is considered as the Future of Money, Everything in the world is turned into Digitalize as the same way Money is also converted into Digitalize, so they named that digital money as Cryptocurrency. In the crypto world, individuals, business peoples are like to exchange their cryptocurrencies it was named as Cryptocurrency exchange that allows customers to trade their cryptocurrencies for other assets such as fiat money or other digital currencies.
In this article, we have to discuss how to build a Decentralized Cryptocurrency Exchange(DEX) platform?. If you don’t know about what is Cryptocurrency Exchange? Don’t worry we will explain the whole process of Cryptocurrency Exchange as well as a decentralized cryptocurrency.
Come let’s see
What is Cryptocurrency Exchange?
Cryptocurrency Exchange is an exchange where traders can buy and sell or exchange one cryptocurrency to another digital currency or fiat currency, On cryptocurrency exchanges, users can make instant transactions with cryptocurrencies in a highly secured manner. In Cryptocurrency exchange platforms nobody can know who are the buyers and sellers and all the cryptocurrency transactions are recorded in immutable Blockchain technology. It is an online platform in which you can exchange one kind of digital asset for another based on the market value of the given assets,
The Most Popular Cryptocurrency Exchanges are Binance, Coinbase, Bitstamp, Bithump, Coinspot, Remitano, OKEX, IDEX and more….
Hope, you will get some idea about cryptocurrency exchange in a simple manner.
Next, let's see about Decentralized Exchange
What is Decentralized Exchange?
Decentralize the name defines about the activities of the business people those who are exchanging their cryptocurrency away from a central authoritative, simply user can control their funds and it can proceed peer to peer exchange directly from their wallet. Instant exchange of cryptocurrencies is possible here. The benefit of using a decentralized exchange is preventing us from hacking. Here, trading can be done directly between two customers through a peer to peer connection.
Benefits of Using Decentralized Exchange?
It is mainly used to solve the security issue, it is used not to store user’s funds on the exchange account, this means it does not make sense to hack the system, online money transfer will be done in a simple manner and user can easily get their transaction fees through the use of smart contracts. These exchanges also offer a high degree of privacy, users do not need to provide any personal details to other traders or the person who is buying or selling from them.
Some of the features of having a Decentralized Exchange platform:
All the digital assets that move over the network are controlled by the users themselves, it also makes you feel like an owner of your cryptocurrency, No more maintenance works are nor involved in your account.
*Avoid Third-party or Middleman
In a Centralized system, trust is required for a functioning system, there are multiple
risks associated with a centralized system, In a Decentralized exchange(Dex) you are not required to trust the company or Middle man action. Since all the transactions occur in a transparent and automated system.
KYC procedures require for centralized exchanges, that don’t allow users to control the private keys of their crypto funds. In a DEXs, you no need to provide your personal data or information, it simplifies that you to control your own privacy and your own crypto funds, it is not controlled by single or group of peoples.
How to Build a Decentralized Cryptocurrency Exchange(DEX)?
First of all, you have to analyze the well-versed developer who is expert in coding in an advanced decentralized exchange website and you have to purchase and installing a ready-made decentralized exchange script from blockchain development companies, after purchasing a software, start developing your decentralized exchange website with the developer's guidance.
There is huge demand of creating a decentralized exchange platform for trading.
Among them, Developcoins is the most promising decentralized exchange script development company, provides simple and demand-able decentralized exchange script by the experts using the blockchain technology.
Our decentralized exchange script is one of the best software on the crypto market, we offered the latest and right technology to enable this exchange platform, Our robust solution meets all the significance of cryptocurrency transactions.
Special Features of our Decentralized Script:
With the help of our Decentralized Exchange Script, you can create a secured Decentralized Cryptocurrency exchange website through which traders can do p2p Cryptocurrency trading with atomic swapping mechanism.
Do you want to create your own decentralized exchange website or want to know how our decentralized exchange script works on your platform? Take a free demo here!