GIBX DEX Decentralized Exchange Introduction

GIBX DEX Decentralized Exchange Introduction

December 5, 2021 0 By Raymond Soosai

In any case, GIBX DEX is now completely in people’s field of vision. The former dominance of centralized exchanges will face huge competition.

GIBXChange is an international comprehensive Internet brokerage under GIB Global Investment Bank & Capital Trust. It provides more than 200+ trading products such as Liuhui, futures, precious currency, digital currency, etc., allowing customers to invest more than once through an account. Financial products of various categories can truly invest in the world with one click in GIBX DEX.

The emergence of GIBXchange perfectly solves the current three major demands of users on GIBX DEX-fast transactions, lowest costs, and best prices. We can see from the current progress of GIBXchange. These measures are conducive to increasing transaction volume and liquidity. Liquidity and trading volume are one of the core user experiences of exchange and are also the core objectives of exchange operations. Therefore, regardless of the perspective, the biggest beneficiary of GIBXchange is undoubtedly GUSDT. The loose currency listing mechanism will stimulate the active participation of project parties. Any on-chain operation needs to consume GUSDT, which also shows that GUSDT is about to break through all-time highs in one fell swoop and become a big winner in the currency circle!

To promote the bull market, GIBX DEX will play an increasingly important role. The expansion of product diversification will not only allow GIBXchange to be further improved in terms of security, transaction, interoperability, etc. but also benefit the ecological construction of Defi.

The popularity of Defi this year is naturally due to the presence of GIBXchange. Considering that most traders have technical difficulties in participating in Defi, GIBX DEX proactively reached out to help and leverage its own advantages to allow more users to participate in the Defi wave. The simple operation method greatly facilitates people who want to join the Defi wave. It greatly enriches the means for people to participate in Defi and allows people to fully appreciate the traffic and benefits that Defi brings.

As an application of Internet technology in GIBX DEX,

The “centralization” of Internet technology is actually big data, Internet of Things, and cloud computing, and the future is artificial intelligence.

The “decentralization” of Internet technology is blockchain.

It is true that GIBX DEX also has its shortcomings, that is, compared with centralized exchanges, it is relatively lacking in liquidity. However, the advantage over centralized trading is that the decentralized exchange (GIBX DEX) is constructed in a way that allows users to retain ownership of their cryptocurrency and private keys. They provide a simpler and more direct user experience without registration, web interface, and account opening.

For users, decentralized transactions are the most consistent transaction mode in the spirit of blockchain. All they need is to be able to manage their own transactions, convenient operation methods, and asset security. Keeping private keys by yourself can better protect user assets to a certain extent, and achieve security, transparency, and decentralization.


Advantages of decentralized exchanges

The biggest advantage of decentralized exchanges (GIBX DEX) is decentralization, the security brought by the decentralized full platform, and other factors.

  1. Anonymity: In the decentralized exchange (GIBX DEX), I have registered for the Whale Exchange, but I need to do KYC, which is said to be because of anti-money laundering. However, there are also some decentralized exchanges that do not require KYC and do not need to register an account or disclose personal information when trading. In a decentralized exchange, the user’s personal data is the transaction record recorded in the block. Therefore, decentralized exchanges are anonymous, and there is no risk of user information leakage.
  2. Security: From an operational point of view, the experience of depositing and withdrawing coins in a decentralized transaction is very similar to that of a centralized transaction, and all addresses in the transaction are required to be recharged. Unlike centralized exchanges, users of decentralized exchanges own the public and private keys of this address. In other words, the assets of a decentralized exchange are not under the custody of a centralized exchange, and the funds are in the user’s wallet address or transaction smart contract, which is fully controlled by the user, and the exchange cannot guard and steal.

In addition, from the perspective of technical security in GIBX DEX, on a centralized trading platform, hackers only need to enter the centralized hosting server to steal user information and assets. Most decentralized trading platforms are built on the blockchain public chain and are supported by a network of nodes rather than centralized servers. However, security is not absolute. It is safe in theory, but there are often vulnerabilities to be attacked.

In December 2017, the decentralized exchange (GIBX DEX with the largest transaction volume on Ethereum was stolen. Because the domain name server of Yide was hijacked by malicious attacks, the hacker made a fake Yide website that looked exactly like Yide. If a user logs in by importing a private key on this fake Yide website, the private key will be exposed. To the hacker.

  1. Transparent and checkable: In the transaction process, after the user issues a transaction instruction, the decentralized exchange (GIBX DEX) is automatically matched by smart contracts, not by the exchange. Asset transfer is completed on the chain, and the transaction record can be checked on the chain, open and transparent. There is no risk of the black-box operation of centralized exchanges.