Review on EtherDelta (ForkDelta) by Danh Huỳnh Ngọc Công
Long live the EtherDelta!
EtherDelta is the exchange that can stand as the example of a successful DApp. On this exchange, users can trade a lot of Ethereum token without any worries about security and high fees. However, users should read the instructions on the internet carefully if they don't want to lose their assets using this DApp.
Pros
- - It is very fast to connect to Ethereum wallet with EtherDelta. Account registration and identities verification are unnecessary as traders can join anytime as long as they control the private keys. There are three ways to connect with the wallet: Metamask, private keys, or Ledger Nano S
- - Traders can trade on EtherDelta trustlessly as it is a DApp secured by thousands of nodes on Ethereum blockchain
- - A big number of tokens on Ethereum blockchain can be traded on the exchange. Moreover, users can add the tokens they like to the exchange themselves then trade unofficially
- - There are five available languages on the exchange including English, Chinese, Korean, French, and Spanish
- - EtherDelta does not charge any fees on deposits and withdrawals. Users are only required to pay transaction fees
- - The exchange is used by a lot of users and it is open-sourced so it is definitely a trusted project
- - It is possible for users to adjust gas price as their desire. This will help them choose the best price for their trades
Cons
- - The interface is too difficult to use and many users have reported that they lost their funds only because the website is hard to understand how it works
- - Token prices are manipulated very heavily. There is a big difference between the bid price and ask price. The volume of this exchange is decreasing by the time so its liquidity is not healthy
- - Its competitors have been going advanced day by day but there is no significant change on it on the newest updates
- - It is very hard to track the transaction history as it keeps appears and disappears. Again, it is hard to understand how the exchange works
