Review on Kyber Network by Toprak Dere
About Kyber Network
Kyber Network is a decentralized exchange platform, you do not need to keep your money on this network. As soon as the exchanges are processed on the blockchain network, the counterparty can start using it. In addition to being instant to exchange between cryptocurrencies, it can also be used to make payments. Regardless of the crypto currency you want to pay, the person or the place you want to pay, you can convert the crypto currency you have to the crypto currency you want on Kyber Network.
Although crypto coins emerge with the aim of 'decentralization', many crypto money exchanges have a central structure. While this situation reveals security weaknesses, many users have been victims of hacking or theft.
However, although decentralized exchanges emerge, almost all of these exchanges have their own flow, their liquidity is very low and often trading can be quite expensive due to the order books.
This is where Kyber Network comes into play as a decentralized exchange tool that keeps users everything on the blockchain. Using a reserve system instead of an order book, the Kyber network is ideally suited to ensure high liquidity at all times. This reserve system provided by Kyber also keeps expenses to a minimum by allowing the transfer of all cryptocurrencies without any specific listing criteria.
Pros
- By tapping the protocol, developers can create payment flows and financial applications, including instant token clearing services, erc20 payments, and innovative financial dapps
- With the reserve system provided by Kyber Network, it is separated from other decentralized exchanges and prevents users from harming.
- mining feature
Cons
- none
