Polkadex decentralized orderbook a new DEX tool to leverage centralized exchange trading risk
Polkadex is proof that another model in crypto is possible.
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Polkadex is a new feature built based on the Polkadot DOTprotocol blockchain network to run a fully equipped decentralized exchange DEX based on a centralized exchange (CEX) system Orderbook pattern of trades.
Well, we can ascertain one of the main differences between a decentralized exchange (DEX) and a centralized exchange (CEX) is the availability of Orderbook on CEX that makes trading orders filled based on traders' buy and sell options against each other, while on DEX trading orders are filled based on automated market makers that rebalance liquidity pools.
A radical alternative for centralized exchange
By design, Polkadex Orderbook offers the best of both worlds, combining the best features of centralized and decentralized exchanges.
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With user's funds exposed to the risk of bankruptcy
run on centralized exchanges, a newly devised method has been initiated for investors and traders to combine a tool that combines the use of an Orderbook which works like a centralized exchange and at the same time allows users to manage their funds in a custodial manner like a decentralized exchange without exposing their funds to intermediate users.
Polkadex trading website
Which has features of a centralized exchange compatible with Android and IOS devices, some users will think it's another centralized exchange considering its order book feature according to its founder and CEO Gautham J, the running exchange now fully boast of an Orderbook that works exactly like a centralized exchange giving users full advantage to manage their funds on the go with zero risk of losing their assets.
Delegation feature
The new exchange also allow users who are not experts in trading to delegate their funds to certified traders, on the exchange with investors also having full custody over their delegated funds.
This looks very promising as well and it's the first of its kind in the crypto space this will take crypto adoption to the next level in terms of security Polkadex uses a trusted execution environment (TEE) technology that store sensitive data in an isolated hardware while processing data in another area there are no KYC requirements as well users can trade on the go by depositing USDT and PDEX.
Want to learn more about polkadex watch the video below from YouTube channel.