Review MainFinex - Reliable digital asset trading platform!
Hello today, I will introduce you to a decentralized exchange called MainFinex, this is truly a reliable digital asset trading platform!
What is Decentralized Exchange?
Decentralized Exchange (DEX) is a platform that does not depend on third parties to save your money, all automatic and direct user transactions between users (peer to peer network). In other words, DEX - decentralized exchange gives users full control of funds and transactions, eliminating intermediaries to avoid the risk of security problems, hackers, fraud. In addition, the imposition of taxation or control of funds from decentralized exchanges is very difficult. Based on this view, MainFinex was created to create a reliable digital asset trading platform!
What Is the Difference Between Decentralized And Centralized Floors?
The Right to Control Funds
Exchange users focus on making deposits to the exchange to facilitate trading. This fund is controlled by an intermediary trading service. This means that the order book, as well as custody rights, are in the hands of a centralized platform service.
In a decentralized digital currency exchange platform, users trade directly with other traders without a central server. There is no centralized service that has a command book and prisoners' rights. Because of this, money is controlled by users and participants on this platform.
Anonymity
A number of centralized exchanges each allow anonymous trading accounts on their platform. However, new government regulations that have emerged in recent months have resulted in strict compliance with KYC and AML laws. It is difficult to trade anonymously in centralized digital currency exchange. Conversely, a decentralized exchange is where everyone can remain anonymous.
Authentication
Centralized exchange users depend on the platform to authenticate and authorize their transactions. On the one hand, this platform is a third party intermediary that provides reliable crypto exchange services.
With decentralized exchanges, we don't need to rely on intermediaries. With smart contracts and several Blockchain protocol implementations, the entire system is built to provide authentication and authorization of unreliable cryptocurrency exchange transactions.
Decentralized Exchange Rates, MainFinex
Transactions are Processed Faster and Cheaper
Decentralized exchange MainFinex has the ability to facilitate transactions that must be done faster, more cost-effectively than centralized exchanges. Eliminating intermediary authenticators significantly reduces costs and time delays before buying / selling orders are processed.
More Difficult to Attack
Decentralized exchange MainFinex has no user funds and no organization interferes with the process, so this exchange is difficult to hack. Meanwhile, history has recorded many attacks on centralized exchanges such as Bitfinex, Bittrex.
Perfect integration with a secure hardware wallet
This is a major advantage of the decentralized MainFinex exchange. Many decentralized exchanges offer unlimited integration with popular hardware wallets such as Ledger Nano S or Trezor to ensure a much safer trade.
Users can send coins directly from their hardware wallets to smart contracts from many decentralized exchanges. With centralized exchanges, there is no way for users to manually fill in private keys to transfer coins from the hardware wallet to the exchange. Because if you do, chances are they will be tricked or trace the keyboard.
Funds Are Fully User-Controlled
MainFinex is a decentralized exchange that is owned and controlled by all parties so that no centralized company has the right to hold customer funds. Money control is always in the hands of users thanks to the network structure of colleagues. Transactions occur between parties in the network with smart contracts, which can only be controlled by the private key of the parties involved. Users control their private keys and capital at all times with decentralized exchanges.
Some Weaknesses Of MainFinex Decentralized Floors
Only Supports Multiple Platforms
Currently the most popular platform for decentralized exchange is Ethereum with a number of ERC-20 tokens that support trade. In the future several other major platforms such as NEO will also be supported by decentralized exchanges.
More Difficult to Use
This is why exchanges like Binance or Huobi are popular, simply because they are easy to use. Many smart contracts must be navigated to be used in decentralized exchanges, which can make a headache for users, even for those who have knowledge of cryptocurrency technology.
Centralized exchange also has a simple user interface, which is visually organized and easier to start than decentralized exchange.
Lack of Strong Features & Functions
Most decentralized exchanges only support a few basic trade functions. More in-depth trading features and tools such as margin trading, stop-loss orders, etc. Often lost from decentralized exchanges. This is probably the main reason why decentralized exchange is still not popular in the cryptocurrency market.
Conclusion
Above is the article "What is the exchange of decentralized MainFinex? What is the difference between centralized and decentralized exchange? Hope it can bring the most useful information for readers about this type of exchange. If you have questions, please leave a comment below. I will support you.
ACCURATE INFORMATION
Website: https: //mainfinex.com/index.html
Telegram: https: //t.me/mainfinex
Twitter: https: //twitter.com/mainfinex
WHITEPAPER: https: //mainfinex.com/whitepaper.pdf
AUTHOR: Gambangcity
ETH: 0xbd4e6B6E19c55D117badfa5C218Ae03263df6072
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