Innovations Happening In The Crypto Exchange Scene

Cryptocurrency exchanges are a vital part of the crypto infrastructure. News of huge profits made on the exchanges hacks happening at an alarming rate, exchanges imitating one another and others adapting innovations on the Wall Street all form a critical part in crypto’s publicity and exchanges are at the center of it.

You will be surprised at the sheer amount of exchanges in the crypto space today as well as others that are coming in. The exchanges that are already in the market are looking to adopt new offerings as the incoming exchanges look to innovate in order to occupy their own niche in a market fast-growing with new competitors.

Decentralization And Binance

Binance hasn’t been on the crypto scene for long. Yet has become one of the most dominating exchanges in the market today. It is a testament to the amazing opportunities available in the crypto space. On the other hand, it also shows the sheer drive and intelligence the Binance team has employed to make this happen. One of the strategies they have employed to reinforce their standing on the crypto exchange scene is decentralization.

The centralized exchange saw benefits on the other side of centralization. And now its decentralized exchange DEX has become a reality. Decentralized exchange users enjoy benefits such as no central authority, faster transactions, and heightened security. It is yet to be known how Binance will achieve these factors.

In addition, DEX aims to make improvements in scaling, an area where decentralized exchanges seem to lag in. a thousand transactions a second is what DEX envisages to achieve if at all it is to process the same volume as its centralized counterpart.

DEX also seems to move into lending and rolling out futures platform to ensure its circle of influence is ever spreading.

Liquid, an Ultra Secure Exchange

It’s hard not to see the increasing number of hacks taking place in the centralized crypto scene. Given that the technology is new, this will continue for a while. Investors and traders are looking for an edge in security. And liquid offers just that. To those wishing to remain anonymous, the extremely thorough KYC process can put liquid users off.

Liquid also has 2-factor verification while all of its funds are kept in cold storage. Withdrawals in the platform are free, but to whitelisted addresses and takes 24 hours to process extra security measures. That should keep hackers at bay for the moment. Nonetheless, the platform doesn’t provide insurance for their funds, unlike Binance.

DACX Bridge Crypto And The Capital Markets

The DACX exchange hopes to combine the powers of decentralized ledger technology, artificial intelligence, and computing to deal with multi-currency payments, commodities, and assets. The exchange hopes to be a pioneer in bridging the gap between the Wall Street and crypto.