Review on IDEX by francis fernandez
IDEX: a decentralized exchange that provides security options to ensure secure transactions
IDEX is a digital asset that operates on the Ethereum blockchain to allow the exchange of crypto assets in a secure, decentralized and fast way on a global level.
Token:
The IDEX token is the engine that powers the interactions that run on the chain. It is an ERC-20 token that has a total supply of 1,000,000,000.
Technology:
The IDEX platform has a Layer-2 scaling protocol that gives the following special characteristics to its chain:
Has unlimited scaling that eliminates gas congestion and inconvenience to allow batch settlement of network operations.
The validating entities guarantee the security of the ledger outside the platform and receive compensation for commercial fees.
The IDEX layer-2 system guarantees efficient administrative management.
Exchange operations are settled individually and activated on the first day due to the optimal performance of the chain.
The network makes use of smart contracts to manage all the operations of its infrastructure in a scalable, secure, reliable and efficient way.
Utilities:
It is used to place bets and obtain rewards up to 50% of the trading fees of the platform.
It allows to manage exchanges between chains in a secure way.
Allows creators to save gas fees.
It allows obtaining income from trading and staking of cryptocurrencies
Pros
- It allows to maintain control of the funds since it offers security by means of a private key or personalized custody service.
- It has a robust off-chain trading infrastructure that gives it high performance
- It offers security of the assets of its users through the use of a smart contract.
Cons
- It has a very low and variable value in the crypto market.
