Guides to Decentralized Cryptocurrency Exchanges
5. Newdex EOS Decentralized Exchange
Newdex is the first EOS blockchain based decentralized exchange launched on 8 August 2018 for decentralized trading with transparency, openness, real-time accessibility with promises of non-tampering of trading data.
Because there are minimum regulations in the cryptocurrency exchange world, the biggest risk is actually about the Exchange owners/operators themselves. Decentralized exchange operates independently on the blockchain, is not owned nor controlled by any individual or group entity, so there is zero risk of owner fraud eg. Exchange owners declare that the exchange is hacked, but in actual the cryptocurrencies are transferred out of the exchange into their pockets without anyone knowing.
And because all transactions are transparent and decentralized without any need of administrators, no one is capable or even has the access to modify trading data, hence data security and integrity on a completed decentralized exchange are actually higher than on conventional exchange. While conventional exchange can choose to display incorrect transaction information for its users, it is impossible for decentralized exchange to operate in the dark with transparent transactions on the blockchain. Most importantly, users get to keep their private keys for their cryptocurrencies and those digital assets are separated from decentralized exchange and cannot be touched except by the users themselves.
Newdex operates on EOS, with the main chain currently the public blockchain with the highest TPS in the world which mean there is potential for Newdex to become the fastest cryptocurrency known decentralized exchange with better user experience and trading performance comparable to centralized exchanges. Users of Newdex exchange do not need to register, deposit nor withdraw, hence the user operating experience is most convenient.
Newdex recently announced in Feb 2019 that a new trading pair EOS/CUSD has been listed on the exchange, CUSD or CarbonUSD is a fiat-backed token, first of its kind as well on the EOS blockchain, and provides the EOS community with a credible stablecoin. The EOS/CUSD is a trading pair example on Newdex similar to other cryptocurrency exchanges eg. Coinbase or Binance. The exchange supports English, simplified Chinese, traditional Chinese, Korean etc. languages.
Newdex had announced to the community that they will not establish nor manage any Telegram, Wechat group or other forms of organizations and any such group created will have nothing to do with Newdex.