LeoDex has learned to fly.
All Decentralized Exchanges continue to evolve to benefit the customer. But compared to the other exchanges, LeoDex has learned to fly. Read this short post to find out why.
Part One: LeoDex is Decentralized
LeoDex is a decentralized exchange, not a centralized exchanges (CEX) like Coinbase or Binance.
How does a decentralized exchange differ from a centralized exchange??
Two Important Differences between decentralized exchanges and centralized exchanges
First, a decentralized exchange like LeoDex is Non-custodial:
Non-custodial means users retain control of their private keys and assets throughout the swapping process. A CEX, a centralized exchanges like Binance or Coinbase holds user assets in a central location, and presents a single point of failure and a higher risk of censorship or hacks.*
Second, a decentralized exchange like LeoDex has No KYC:
Because it does not take custody of user funds, LeoDex does not require a Know Your Customer (KYC) process.
A CEX is required to collect personal information from its users, compromising privacy. And creating a honeypot of information for hackers to break into and steal, called identify theft.
Part Two Leodex has evolved to be a better decentralized exchanges in three ways
First, unlike a traditional cross blockchain swap on a traditional decentralized exchange, LeoDex performs Native asset swaps.
What does Native Asset Swap mean?
On Uniswap you can't trade Ethereum for Bitcoin, you have to trade Ethereum for Wrapped Bitcoin WBTC, which means you use a Bridge from the bitcoin blockchain to the Ethereum blockchain, and swap your bitcoin for wrapped bitcoin on the bridge, and then swap your wrapped bitcoin for ethereum on Uniswap.
These bridges and swaps represent Honeypots, big pots of bitcoin or ethereum, which hackers break into and steal the funds. Bridge hacks are one of the biggest source of funds loss in cryptocurrency.
decentralized exchanges which perform Native Asset Swaps elminate the eed for bridges and so there are no Honeypots to break into.
It is the nature of the business competition for businesses to evolve and become safer, faster and more customer friendly. LeoDex represents an evolved, safer, more customer friendly decentralized exchange.
LeoDex enables swaps of native assets (like native BTC for native ETH) directly, eliminating the counterparty risk associated with wrapped tokens, which are frequently used on CEXs and traditional DEXs.
Second, compared to a tradional decentralized exchange with 20 to 30 trading pairs for native asset swaps, LeoDex focused on connecting to many other decentralized exchanges to provide thousands of trading pairs.
Yes, thousands of trading pairs across ethereum, bitcoin, solana, cosmos and beyond.
Third, Leodex built a simple user interface, which lets users simply choose two assets they want to swap, and LeoDex does everything else.
Yes you can trade bitcoin for a solana meme coin or ethereum for a solona meme coin or bitcoin for a cosmos system stablecoin. You enter the two assest and LeoDex through it's native swap archetecture and connections to various aggregators makes the swaps for you, in the background.
Last Words
LeoDex vs. centralized exchanges (CEX)
Non-custodial: Users maintain control of their private keys and assets, unlike a CEX that holds assets in a central location, creating a single point of failure for potential hacks or censorship.
No KYC: LeoDex does not collect personal information (Know Your Customer) from its users, enhancing privacy and eliminating a potential honeypot for identity theft.
LeoDex vs. traditional decentralized exchanges
Native asset swaps: LeoDex performs native asset swaps directly between different blockchains (e.g., BTC for ETH), removing the need for bridges and wrapped tokens. This eliminates the security risk of bridge hacks, a major source of fund loss in cryptocurrency.
Thousands of trading pairs: Unlike traditional DEXs with a limited number of trading pairs, LeoDex connects to many other decentralized exchanges and aggregators to provide a vastly larger selection of trading pairs across numerous blockchains, including Ethereum, Bitcoin, Solana, and Cosmos.
Simple user interface: LeoDex offers a user-friendly interface that allows users to simply select the two assets they want to swap. The platform then uses its native swap architecture and connections to various aggregators to handle the complex background processes, making cross-chain swaps easier for the customer.
Welcome to the future of decentralized exchange trading, today, on LeoDex
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✍️ About the Author & The INLEO Community
🙋♂️ Author: Shortsegments
This post was written by @Shortsegments, an author who has been covering cryptocurrency, blockchain technology, decentralized finance, Bitcoin, Ethereum, and digital ledgers for seven years.
- Read More: Find all of his articles on his blog: Link to his blog.
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