Cardax establishes itself as DEX for Cardano and intends to rework DeFi by means of CoinQuora – Investing.com

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Cardax is establishing itself as DEX for Cardano and intends to DeFi. to transform

  • Cardax is one of the fastest growing DeFi platforms on the blockchain.
  • Its users can trade ADA and exchange one ADA for another within the same transaction.
  • Cardax has secured $ 9 million in public funding to expand the platform on Cardano.

The decentralized exchange (DEX) Cardax from Cardano Blockchain presents itself as a safe and reliable option for investors. By using Cardax, users can exchange any Cardano Native Token for any ADA, exchange one Cardano Native Token for another within a single transaction, and implement liquidity-conscious automatic pricing using the Automated Market Maker (AMM) protocol.

Anyone can join Cardax as a liquidity provider and start earning CDX tokens. Not to mention that Cardax has developed an innovative general purpose algorithm that solves the problem of parallelism on the Cardano blockchain called “Streaming Merge”.

This means that thanks to this general purpose algorithm, users can communicate with the Cardax protocol without interruption or interference. The streaming merge goes beyond Cardax DEX and will be used by other services hosted by Cardax in the future.

A key collaboration between Cardax and the well-typed team at Duncan Coutts, a leading Haskell consultancy, is led by Duncan Coutts, who has extensive Cardano experience as a senior technical architect at IOHK.

The team has extensive experience with Haskell tools, libraries and development techniques, and its consultants will work with the Cardax core development team to evaluate code and advise on tools, best practices and development processes that the Cardax team will use during the Development should apply.

Cardax also works with Mlabs, Haskell, Rust, Blockchain & AI Consulting. MLabs Haskell developers were selected as one of the software companies working with the IOHK Plutus deployment team on the private test network. These developers are also committed to training other Haskell developers and creating open source DeFi tools to make Cardano DeFi development accessible to non-Haskell programmers.

Tweag, known for his work on the architecture and design of Cardano’s Plutus platform, is part of Cardax’s strategic partners. Cardax is also supported by IOHK in several ways. Cardax receives regular technical and strategic feedback from IOHK, one of the world’s leading research and development organizations for blockchain infrastructure, founded by Charles Hoskinson.

In short, the Cardax team has a lot of technical knowledge in-house and is surrounded by many Blockchain, Plutus, Haskell and Cardan specialists, so it will be more than able to create an extremely secure and user-friendly one decentralized exchange for the Cardano ecosystem.

Over the past year, Cardax has partnered with the best of developers and consultants for Haskell and Cardano. Besides listing several projects and their coins like Blockademia. It also raised $ 9 million in public funding to grow the platform on Cardano, and with its great community on Discord and Twitter (NYSE :), Cardax is focused on making its plans come true.

Over the next 12 months, Cardax plans to launch its DEX, investigate the possibility of owning its own stablecoin on the DEX and begin developing the DEX 2.0 for an even better user experience.

Read on on CoinQuora

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, meaning that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.

Fusion Media, or anyone involved in Fusion Media, assumes no liability for any loss or damage arising out of reliance on the information contained on this website, including data, prices, charts, and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.


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