Crypto coins / Tokens to Market
Blockchain Technology & Cryptocurrency have been the talk of the town. While people look out for the Whitelabel crypto exchange software or cryptocurrency exchange development platform, it is imperative to know the workings of such exchanges.
The following expounds on the decentralized crypto exchanges serving as alternatives for traditional exchanges which are otherwise centralized.
One-Page Exchange – On-chain Mechanism with No Intermediaries
Decentralized Exchange to enhance secured & private transactions with optimized prices. Unlike centralized exchanges, a decentralized one eliminates KYC process verification, deposit/withdrawal price, and allows trading between various cryptocurrencies.
- No intermediaries as that of centralized exchanges
- Wallet to wallet transactions, ensuring no third-parties control of assets
- Private negotiations without any middleman
- No third-party negotiation, thereby eliminating tailgating and restricting knowledge of ongoing negotiation
- Optimal prices in comparison with centralized exchanges
How Does It Work?
Smart contract between the maker & taker, essentially between trading parties, and indexer.
SWAP Protocol Workings
Makers & Takers list the pair of tokens which they prefer to trade; the indexer merely links them for negotiation. Post the agreement on price variations, smart contract in drawn to complete the trade.
The one-page exchange has its own tokens. But, unlike other traditional exchanges where the tokens are used to pay exchange fees or avail discount on transaction charges, the one-page exchange tokens allows tokens to list the intent of trade and act as a membership fee; also, the more the tokens, the more voting rights will a party hold.
Peer-to-Peer Exchange – Linking Traders behind the Orders
A decentralized blockchain network that connects the traders directly, allowing Bitcoin (BTC) owners to share digital content. In other words, P2P exchanges people behind the order book.
P2P exchanges link buyers with BTC sellers with optimal gas prices. The sellers have their set criteria wherein the trading price and payment mode, viz. PayPal, Bank Transfers, Credit Cards, Cold/Hard cash, etc., would have already been defined.
Features of P2P Exchanges
Anonymity of currency
Enhanced security & privacy
- Intermediaries free & faster transactions
Invulnerable to government’s prying eyes
KYC of buyers & sellers, incl. Location information, IP address, etc.
Link to the wallet to swap & cash out currencies
Obligatory fees in order to avoid fraudulent issues
Sometimes the buyer & seller may choose to take the transaction offline by pulling up a meet-up session in person. Post bargaining & fixing on a particular cost, the buyer can either choose to exchange in person, transfer money online, or exchange funds for prepaid cards/gift-cards/other cryptocurrencies.
Your Partner of Choice in White Label Cryptocurrency Exchange Development Platform
Blockchain App Factory, one of the pioneers in the field of blockchain technology, offers white label crypto exchange software to build your own customized exchange platform. At Blockchain App Factory, a cryptocurrency exchange development firm where we aim to draw in smart contracts which will aid in faster & more secure transactions, with optimal exchange fees.
- Matching Engine with 20,000 TPS
- Cost-effective than building from scratch
- Highly customizable
- Providing Liquidity through order routing
Blockchain App Factory comes with proven expertise in blockchain exchange development and experienced blockchain developers to help you build your own customizable & scalable cryptocurrency exchange platform focussing on security, privacy, and connectivity, which provides a seamless environment for trading. Be the first to ensures the digital asset revolution through Cryptocurrency Exchange Development.
Get your exchange up & running in no time with our tested white label solutions.