Blockchains have been revolutionary by allowing anyone to own and transfer assets across an open financial network without the need for a trusted third party. Now that there are hundreds of blockchainbased assets, and more being added every month, the need to exchange these assets is compounding.
Decentralized exchange is an important progression from the ecosystem of centralized exchanges for a few key reasons: decentralized exchanges can provide stronger security guarantees to end users since there is no longer a central party which can be hacked, run away with customer funds or be subjected to government regulations. Decentralized exchange will eliminate these risks by allowing users to transact trustlessly - without a middleman - and by placing the burden of security onto individual users rather than onto a single custodian.The popularly adopted Distributed Ledger Technology is a form of DAPP. DAPPS can be built on Blockchain’s like Ethereum and Neo. The backend code runs a peer to peer (P2P) decentralized network while the user interface and frontend are written in a language that interacts with the backend code.
Swidex is a DAPP protocol and token that provides an instant, fast, and secure decentralized peer-to-peer trading platform where users can remove barriers to intermediaries and centralized digital currency exchange control. Swidex is not controlled by the central administrator or entity but it offers a platform where users are empowered to trade directly within themselves with the conditions they choose.
Swidex aims to provide a decentralized P2P trading platform with smart contract technology. A world where users trade digital assets with inner balance. The combustion protocol will be integrated into the Swidex smart contract where Swidex tokens will slowly be burned up to 30 percent (1.5 billion) of the total supply successfully burned. Widex will offer Ethereum (Eth) dividends every quarter to holders of Swidex tokens. This is to reward Swidex token holders as Swidex shareholders.
Centralized exchanges are the most common and early trading platforms adopted by majority of users in the cryptocurrency industry. They are centralized, act as intermediaries between traders with several rules of who, what, and when to trade. Wallet addresses are provided for users to deposit digital assets and in turn, they offer virtual digital assets on the trading platform for users to trade. The user’s funds, assets are majorly stored in a central wallet; it is owned, controlled and managed by a central administrator.
Since centralized exchanges are controlled and managed by a central administrator, several inherent problems are associated with the use of CEX. There are numerous stories of users’ accounts frozen or depleted without genuine explanation or reasons. More so, numerous security breaches have been reported in millions of dollars leading to tremendous loss of users’ assets, and eventual shutdown of the exchange. Recently, a notable CEX, Cryptopia had a security breach and reportedly suffered huge loss leading to its eventual shut down. In addition, cases have been recorded where users of a reputable exchange were denied access to their funds as a result of death of founder of the exchange holding private keys to wallets containing users’ funds and assets.
COMPARISM BETWEEN CENTRALIZED & DECENTRALIZED EXCHANGES
ROADMAP
Swidex will offer numerous dividends, airdrops and technology advancements. The roadmap below reiterates upon the order of execution Swidex will take.
TEAM AND ADVISORS
SWIDEX TOKENS (SWDX)
Swidex Tokens are built on Ethereum Blockchain, ERC-20 with a total supply of 5,000,000,000 (5 billion) SWDX. SWDX is a Swidex original token, done as a fuel for transportation. This enables liquidity and strengthens open, fast and secure transactions among Swidex users.
Token Details
For More Information:
WEBSITE: http://swidex.trade/
WHITEPAPER: http://swidex.trade/swidex.pdf
FACEBOOK: https://www.facebook.com/Swiftlanceoutsourcingplatform
TWITTER: https://twitter.com/swiftlance1/
MEDIUM: https://medium.com/@swiftlance.org/
DISCORD: https://discord.gg/UPqAT78/
TELEGRAM: https://t.me/Swidex/
Author: Rikkardcrypto
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2577013
