INTRODUCTION
Decentralized Exchanges popularly known as DEXs is a crypto trading platform designed to ensure trading security and transparency .Trading activities are conducted in a decentralized manner and the traders take control and manages their funds and assets through their Private keys. Under this system of trading ,traders ind entity are kept anonymous while the service of intermediaries are completely skipped.It is sad to say most of the existing DEXs doesn't follow the rule of decentralization because majority of them are not fully decentralized .Most of these DEXs are partially decentralized , they are not fully decentralized because somehow they still have access to users funds.
In addition, majority of the existing Decentralized Exchanges platform have scalability problems which limited their potentials.Only few DEXs offers cross chain trading system and they render quality services in terms of speed, transaction cost and liquidity .Having observed all these imbalances , the gallant team of DRK platform has developed a DEX for the masses integrated with DeFi products. DRK DEX is quite unique and different from any ever existing DEX platform. The integration of DeFi products into the DEX makes it stand out among other DEXs in crypto industry . Details about DRK Dex , its unique features and how it stands out among the existing DEXs in crypto sphere shall be fully reviewed in this article.
DRK DEX GENERAL REVIEW
DRK DEX is one among the products of DRK ecosystem .It is Decentralized exchange built on DRK chain .It is an ultra modern cross chain decentralized trading platform which incorporates DeFi elements. The Cross chain feature of the DEX makes it stands out of the crowd. The listed token and coins that will be traded on DRK will be listed through the Cross chain protocol. DRK DEX is an exchanges that has its own blockchain .It is built on DRK Blockchain and uses DRC-99 token standard. This simply means startup projects can develop their project on DRK chain and issue their
tokens on DRC-99 Token standard. DRK chain is very salable, fast, secure and cheap in terms of transaction cost. DRK DEX is one of the most important tools in DeFi Space , the platform was developed on Smart contracts to enable trading and others activities automation .
DRK DEX removes all forms of complexity attributed to operating DEX by offering a simplified and user friendly interface for the global traders. Users can trade with ease while using the platform . DRK smart contracts simplified the entire trading system , thereby enabling trading automation and allow trading transactions processing without involvement of any human resources.Below i will discuss some important features of DRK DEX
WHY DRK DEX IS THE NEXT CHOICE OF EXCHANGE IN CRYPTO SPHERE?
(i) CROSS-CHAIN
Majority of the existing Decentralized Exchanges operates on single blockchain which only allow only the tokens of such network to be traded . Just like ERC20 tokens are traded on Etherdelta DEX and IDEX and Trc20 tokens only traded on Poloniex DEX. This is obviously a limitation in DEXs because this would not allow varieties of trading pairs in DEXs . The team of DRK has emerged to break this limitation . They have developed a Cross Chain Decentralized Exchanges based on DRK Chain which will be capable to allow any token or coin to be listed though DRK cross chain protocol and become tradeable . This is really huge development in Crypto space. It means the tokens that will be traded in DRK DEX will not be limited to DRC-99 . The exchange will allow cross chain trading system which will enable any kind of token listed in the exchange.
(ii) TRANSACTION CHARGES
One major factor trader always consider is the exchange transactions fees. IDEX and Etherdelta for instance charges their transaction fee using Ethereum token. Problem of Scalability, high transaction charges and slow transaction speed has been attributed to Ethereum network which is quite unimpressive. DRK chain to simplify trading activity and make things more easier for traders charges their transaction fees through DRK token . DRK chain offers high network scalability , high transaction processing speed and cheaper transaction cost. Traders interest is the top priority on DRK DEX.
(iii) SECURITY
SECURITY : Security has been seen as one of the major challenges in Crypto Exchange industry . Mostly centralized exchanges are vulnerable to hacks and attacks. Even the world giant popularly known as Binance got hacked and rest of them. This is the reason why DEXs has turned to an indispensable tools in Crypto Industry . DRK take decentralized nature allows users to retain complete control over their funds through their Private Keys. Users dont have to sign up with their email or password before trading on the Exchange . Users Funds are always safe in any situation on DRK DEX
(iv) HIGH PERFORMANCE NETWORK
As explained earlier, network performances in terms of speed , cost and security are the top factors traders considers before chosing an exchange to trade. DRK chain offers the best blockchain network . DRK chain is capable of processing up to 5000 transaction per second and in terms of transaction cost they charge a very moderate fee on transactions. The emergence of DRK Chain in Crypto ecosystem is a complete breakthrough .
CONCLUSION
DEXs has become an indispensable tools for traders in Crypto Exchange industry most especially in the field of Decentralized Finance (DeFi) . There is doubt Decentralized Exchanges is the future of Crypto Exchanges because it is tuly demonstrating the goals of Blockchain decentralization when we are talking about transparency and automation . The Emergence of DRK DEX will simplify crypto trading system and solves majority of the existing challenges in crypto exchanges industry..
Official Resources
WEBSITE: https://draken.tech/
WHITEPAPER: https://drive.google.com/file/d/1mHtV50CktdFCyD_NaH370sZ8sOBehgce/view
TELEGRAM : https://https//t.me/Drakentech
FACEBOOK : https://www.facebook.com/DRKDEX
TWITER: https://twitter.com/DRKDeFi
DRAKEN DEX https://draken.exchange/
DRAKEN ENTERTAINMENT https://www.drakenx.io/play
STAKING PLATFORM : https://staking.draken.tech/
DRAKEN BLOCKCHAIN : https://explorer.draken.tech
Username : Ozie94
Profile : https://bitcointalk.org/index.php?action=profile;u=2103066
DRK Address : 0x71c86b3bef8335ae29f88b7fb7bd11bdaa175b49
TRC20 wallet address : TW2SMXsU3KpnQW2tSXfPg3BJnhyJS8zWo1
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