Review on EtherDelta (ForkDelta) by The hsotaka
Fork Delta is a great example of a decentralized exchange.
Today i want to tell you something about the decentralized exchange "ForkDelta".
ForkDelta is an open source exchange which is completely decentralized.
You can connect your hardware or metamask wallet to deposit or withdraw eth an tokens to or from the exchange.
Like on other decentralized exchanges, there are no trading fees, but of course you will need to pay the transaction fees if you transfer tokens via the ether network. The amount of fees depend on the current workload of the ether blockchain.
A great advantage of ForkDelta is the fact that there are ETH market pairs. A lot of decentralized exchanges are using wrapped ether pairs. This means you have to wrap your ether before you can trade on the exchange. This is a annoying step in my opinion.
If you want to trade on ForkDelta, you don't need any wrapped Ether, you can trade with directly with the Ether that is stored on your wallet.
Only negative point:
Like on many other DEX, there is a huge amount of supported ERC-20 tokens. Unfortunately you will recognize that the liquidity for most of these pairs isn't good.
Pros
- Huge amount of supported ERC-20 tokens.
- Open Source DEX, this is just great.
- No annoying "wrapped ether" markets like on some other decentralized exchanges. All pairs are XXX/ETH pairs, so you can buy or sell with real ETH directly.
Cons
- Like on most other DEX, there are many supported tokens, but poor liquidity for many of them.
New products
Comments (1)
May 01, 2020
I think that these decentralized exchanges still need to improve the issue of fees, which are still very expensive, every time you trade an asset on them, you lose a lot in fees, which is a problem for those who make several trades.
