Source : coinquora.com
- Centcex exchange will be offering better security.
- The platform will offer a better user experience.
- There will be more products in this DEX ecosystem.
Centcex, a blockchain-based decentralised exchange, is currently causing ripples in the crypto market a month after the token launched. The building is the biggest, most secure, safest and fastest exchange is something that will attract the attention of any crypto investor, and that’s what Centcex has been doing.
Centcex team says it is building a cryptocurrency that is going to address two major problems: crypt security and user problems. These are the two big issues with the current blockchain-based platforms. The coin is already attracting the attention of large cryptocurrency communities like Solana.
A huge number of Solana community members are joining the coin every day because of the anticipated growth. The coin has already made record-breaking moves, like the recent 3000% coin growth on the launch day. But the huge potential this coin is showing is what’s catching the attention of big crypto communities like Solana.
To fix security and user experience issues common with the current exchanges, Centcex team is building a platform that uses the Proof-of-Stake consensus mechanism. The PoS consensus mechanism uses validators to verify transactions and build new blocks on the blockchain. Validators are the investors who stake their tokens, and in return, they earn rewards for staking.
With PoS consensus mechanism, the attacks from minors or validators are discouraged in several ways. First, the number of validators much be above 51% to verify a transaction, which is impossible for a hacker to get. Second, the benefits of a hacking attempt outweigh the gains. This is how this exchange is going to address security issues, and Solana investors are seeing this potential.
Centcex is improving user experience by building fast and NO-KYC crypto exchange. The PoS consensus method is a smart way to increase the platform’s speed of transaction. The building of new blocks with PoS is faster than PoW, and this means more transactions per second. The no-KYC feature enables users to trade anonymously on this DEX. This helps to keep customer data private, and this improves data safety.
Centcex is also attracting the Solana community because of its investor rewards. The project tokenomics are super appealing, which has many Solana investors joining the coin. The staking contract shares 100% of the revenue generated from products in the ecosystem to the staked tokens.
The ecosystem is going to have multiple products, with 3% of the 10% tax collected on transactions going to fund unlimited products development. This means more products in the future and more money for the staked tokens. Most Solana community members are joining the coin to enjoy staking rewards.
Centcex exchange is in the development stage, and the coin is already doing very well in the market. It’s a DeFi project to watch. Follow their social media platform for the latest updates!