A decentralized exchange (DEX) is a system that allows people to place orders and trade cryptocurrencies without the need to manage ledger accounts and hold consumer funds based on intermediaries. Moreover, transactions are carried out directly and autonomously between users.
DEX is one of the most interesting elements in the DeFi movement. As we all know, DeFi is a popular trend in the current blockchain market. Under this trend, developers have created decentralized alternatives to various traditional financial institutions. At present, DEX is the core that drives DeFi forward, and as an emerging power in DEX, what advantages does the NGKEX have? How does it work? Can it promote the rapid development of DEX? Today, we will answer these questions one by one.
Features and advantages
1. Security
Security is the core advantage of NGKEX. The centralized exchange (CEX) platform generally stores all digital assets on the exchange. In theory, this will make them more vulnerable to hacker attacks. While NGKEX chose to leave the ownership of digital assets to users, and it essentially acts as a place to provide peer-to-peer transactions. The NGKEX does not retain the user’s private key or any private data, they are all retained in the user’s hands, where users can fully control the digital assets. Since NGKEX is decentralized and has the characteristics of anonymity, the NGKEX is more effective and convenient for users to conduct cryptocurrency transactions.
2. IPFS distributed storage
NGKEX does not have a central server, but it uses the InterPlanetary File System (IPFS), a distributed storage technology to distribute data in servers around the world, which greatly improves the security of digital assets and makes hacker attacks more difficult. At the same time, it also saves storage space and supports large-scale data storage.
3. Convenience
Compared with CEX, the NGKEX does not require any personal information or ID to identify the account. At the same time, compared with similar DEX platforms, the registration process of NGKEX is more convenient and user-friendly. This saves the user’s operating time. On the other hand, it is easy for the user to understand, and the user’s operating experience is improved.
The emerging power of DEX
NGKEX is the first DEX platform based on blockchain technology that provides services such as currency trading, contract trading, leverage trading and OTC trading.
NGKEX is the latest application for DEX, which combines the advantages from the bottom technology of NGK blockchain and the DEX technology to create an innovative DEX platform;
NGKEX has a direct and powerful user-friendly interface, which can provide real-time benefits in terms of price curve and rewards;
NGKEX is the first DEX platform that provides all on-chain token transactions on the NGK blockchain, enabling the NGK ecological builders to participate in the governance of the NGKEX platform and obtain more benefits;
NGKEX guarantees the legitimacy of the platform through a reliable team, and it has obtained legal supports from powerful regulatory agencies.
Therefore, NGKEX has unique advantages in the DEX field. At the same time, it also uses this unique advantage to provide all ecological builders with convenient transactions, as well as stable and safe digital asset supervision services. Therefore, it is very popular and welcomed by ecological builders, becoming the backbone for the rapid development of DEX.
