№ 26 | Idex - Cryptocurrency Exchanger Review CENTRALIZED
The IDEX cryptocurrency exchange for trade in cryptocurrencies is a relatively young project.
Which is a decentralized platform for trading the Ethereum (ETH) tokens on the model ERC-20. Despite its youth, according to the volume of trading, IDEX takes place in the first 100, among other platforms for trading in digital assets.
The decentralized IDEX exchange consists of three main components:
- smart-contracts — responsible for safety, regulation and control of processes;
- trading engine — providing an update of trade balances online;
- arbitrage transactions — using the speed of centralized exchanges, and the security of decentralized.
A two-tier model of transactions calculations bypasses those pitfalls that affect the EtherDelta system, generally providing for easier and less annoying trading conditions.
Nevertheless, this model has its drawbacks, since it makes the exchange not fully protected. You control your secret keys, but rely on the stock exchange when executing transactions, that is, the last step of the process remains somewhat centralized.
It is still dependent on the Ethereum network, like any other decentralized exchange based on Ethereum.
And during periods of network problems users may face some problems.
The daily trading volume of IDEX is approximately close to $2 millions of dollars. At the time of writing, 307 crypto assets are listed on IDEX.
- Big diversity of tokens;
- 2FA authentication;
- No mobile app;
- Dependent on the Ethereum network.