Slow, expensive transactions are the Kryptonite of crypto traders everywhere. In fact, research shows that 37 percent of respondents considered high trading fees to be the most problematic issue with current exchanges, while another 36 percent cited lack of liquidity.
Many of these problems owe to using blockchains like Ethereum. While powering an incredible number of decentralized applications, it’s simply not built for high-frequency trading. The network congestion and high fees make it impossible to execute large orders in a timely manner. Luckily, there is a new player on the scene that is looking to change all that.
A New Cardano Contender
ADAX is a just-launched Cardano-based exchange that utilizes the order-book model, meaning that users can trade without entrusting their funds to a third party. Transactions are instantaneous, and fees are a fraction of those on the Ethereum network, making this new DEX a great outlet for new and experienced traders alike
What’s more, ADAX is fully decentralized, thanks to the utilization of Plutus smart contracts. This means that there is no risk of censorship or manipulation.
In addition to its technical strengths, ADAX also boasts a user-friendly interface that makes trading a breeze. Their team has spent countless hours perfecting the experience, so that even those with no prior experience can feel at ease.
Already boasting integrations with Nami, GeroWallet and CCVault, ADAX has plans for many more API-based integrations in the near future. Further, a partnership with Stockgeist.AI, a market sentiment monitoring platform, will give traders an edge by allowing them to re-calibrate their investments based on early signs of changing ‘social sentiment’.
By scraping data from social media sites like Twitter, Facebook, Reddit and Discord, analysts will be able to get ahead of the competition by predicting which tokens are on the rise and which are on the decline.
ADAX have previously had an oversubscribed private sale and a tremendously successful IEO on ExMarkets. Their list of valued relationships continues to grow, with recent partnerships including GeroWallet, World Mobile, BlackDragon, Charli3, and others.
ADAX’s partnership with BlackDragon, a crypto investment platform, provides ADAX users hot investment vehicles, while their partnership with Charli3, a decentralized oracle, ensures transparent and accurate pricing information. Meanwhile, their wallet partnerships provide a growing list of options for users to store and use their crypto.
Why Cardano?
Let’s take a step back, and consider why Cardano should be used as the basis for decentralized exchanges. The first reason is that Cardano is a secure platform. It was designed with some of the most rigorous cryptographic principles in mind, and it has been extensively tested. This makes it an ideal candidate for implementing DEXs.
Second, Cardano is scalable. It can handle a high volume of transactions without slowing down. This is important for DEXs, which need to be able to process large numbers of trades quickly and efficiently.
Third, Cardano is flexible. It can be customized to meet the specific needs of individual businesses or applications. This makes it well-suited for use in DEXs.
Finally, Cardano is affordable. It uses a unique proof-of-stake algorithm that allows users to stake their tokens in a way that doesn’t require expensive hardware. This makes it accessible to a wide range of people and businesses.
All of these factors make Cardano an excellent choice for implementing DEXs. Its security, scalability, and flexibility make it well-suited for this purpose, and its affordability ensures that it can be used by a wide range of people and businesses. If you are looking for a lightning-fast, low-fee and censorship-resistant trading experience on Cardano, ADAX is a prime contender.
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