DEX cryptocurrency exchange is a tool for trading digital assets in which all transactions are carried out using smart contracts, without the participation of any centralized trading system or third parties. In fact, DEX exchangers do not store funds and are designed to perform peer-to-peer transactions – transferring crypto directly between the wallets of users that they connect to the platform.
DEX has a number of significant advantages over centralized services. Let’s consider them in more detail:
It is also worth adding that with the advent of DeFi DEX on Ethereum, they have become very popular, and now the demand for decentralized exchangers continues to grow.
Blockchain networks are inherently much slower than their centralized counterparts. Therefore, when creating decentralized projects, additional applications are most often developed.
Thus, the DEX exchanger consists of two parts:
Accordingly, different technologies will be used to implement these solutions. The stack might look like this:
Our team develops decentralized solutions using the Scrum methodology. In general, this process can be divided into six main stages. Let’s consider them in more detail.
Stage 1. Gathering information
First of all, the project manager holds meetings with client representatives to determine the goals, objectives and priorities of the new project.
Stage 2. Design and development of documentation
Design plays a crucial role in the development of decentralized solutions, since once placed on the blockchain network, smart contracts cannot be changed or edited. Therefore, the team needs to create a carefully thought-out prototype, which will contain and describe the entire logic of the product. The prototype performs several important functions:
Stage 3. UI design development
When creating a design, specialists superimpose graphics, illustrations and animations on warframes, select fonts and create a comfortable visual environment for the exchanger.
This is a very important stage, since most users prefer services with a convenient and pleasant interface and, moreover, consider them more reliable.
Stage 4. Programming
The development of the functional part of the exchanger includes several components:
Stage 5. Testing
After the development is completed, the exchanger is transferred to the quality control department (QA), where it goes through several levels of testing. This allows you to make sure that all its functionality works correctly, and as it was intended.
Special test networks are used to test smart contracts. This is a very important step, because after being published on the blockchain, they will become immutable, and any improvements will simply be impossible.
Stage 6. Technical support and development
Despite the immutability of smart contracts, the exchanger itself can continue its development: its front-end and back-end parts can be refined and improved an unlimited number of times. Therefore, after the release, the project is transferred to technical support.
If over time the logic of financial transactions of the exchange also changes, our team will be able to create and publish a new version of the smart contract. At the same time, you need to understand that the old one will remain in the blockchain, and if desired, users will be able to continue using it.
Decentralized solutions are in high demand in the market because they give users more freedom and maximum anonymity. Therefore, investing in a DEX cryptocurrency exchanger will be quite reasonable and will most likely pay off.
The AVADA MEDIA team has extensive experience in blockchain development: exchangers, crypto wallets and large decentralized exchanges. Through teamwork and meticulous design, we bring to market functional and efficient products that solve our customers’ business challenges.
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