In crypto trading today, the name of the game is high speed, low costs, and ease of access – permissionless access to be precise, which means executing swaps onchain. These are some of the reasons why Cryptocurrencies.AI has elected to host its decentralized exchange on Solana.
Currently, most DEXs run on Ethereum, the industry’s most popular smart contract platform. As DeFi has grown, however, and more users have gotten involved, Ethereum blocks have filled up faster and faster. Now, processing a transaction on Ethereum can cost hundreds of dollars in fees, making token swaps unsustainable. With Cryptocurrencies.AI, users get all the advantages of a DEX without the high fees and slow confirmations.
What Solana Offers That Ethereum Can’t
Solana is a high-performance blockchain that allows crypto apps to launch on an efficient and scalable network. With the ability to process up to 50,000 transactions per second, Solana can easily handle the throughput needs of the Cryptocurrencies.AI DEX, offering instantaneous transaction finality to its user base.
Unlike Ethereum, which is still reliant on a slow and expensive Proof-of-Work (PoW) verification mechanism, Solana utilizes Proof-of-History (PoH) methodology. With PoH, Solana essentially creates a snapshot of each historical record, or transaction, proving that the specific event on the network took place at a verified moment in time. The complexities of PoH are deeper, but this consensus mechanism allows for high scalability without the need for network sharding or the introduction of a layer-two solution.
The Ultimate User-Centric Platform
With Cryptocurrencies.AI, both novice and experienced users gain access to a seamless trading experience catered to their skill level. Cryptocurrencies.AI will offer a number of features that are not traditionally available through DEXs, such as Smart Trading capabilities, automated trading via trading view alerts, and in-depth portfolio analysis.
Smart Trading gives users the opportunity to execute multiple trading functions with a single click, expanding and optimizing current cryptocurrency trading capabilities. With Smart Trading, anyone can instantly create numerous orders at once, such as buys or sells, stop losses, and profit-taking, all without the need for centralized oversight or permission. Currently, Smart Trading is only available on Cryptocurrencies.AI’s CEX but will be integrated into their DEX in the near future.
Another critical feature is the introduction of automated Trading View alerts. When taking advantage of trading alerts, users can pre-set trades based on market prices, offering the ability to hedge against risks or lock-in profit without having to actively manage their position. In the 24/7 cryptocurrency marketplace, having a tool that lets you automate your positions to protect yourself is a massive advantage, eliminating some of the risks experienced from high volatility and lack of price monitoring.
If these features weren’t enough, then get ready for the portfolio performance features. When opening up the portfolio performance options, it feels more like interacting with a cryptocurrency analysis site than a decentralized exchange. You can easily track your realized, unrealized, and total profits, follow the trade performance of each Smart Order or opened position, and even rebalance your portfolio holdings based on constantly updating market information. Even if you operate with trading software, you can easily migrate over to Cryptocurrencies.AI using their API Management.
All-in-all, Cryptocurrencies.AI offers all the functions that you would expect from a centralized exchange and analytics platform but wraps it up in an easy-to-use DEX. By running on the Solana blockchain, Cryptocurrencies.AI is able to provide some of the best transaction speeds and rates in the industry, making onchain trading profitable, whatever the size of your stack.
Disclaimer: The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space. This article is informational/educational and does not represent financial advice.