Secure DApp built on Solana reinvents cryptocurrency trading

In the past year, more people have turned to cryptocurrency as a way to invest than ever before. Estimates put that number at well over 100 million, including a growing number of Gen X-ers and Baby boomers, two groups that were previously skeptical of their standing. As a result, trading volumes reached an all-time high with an estimated volume of $3.8 trillion.

Many have recognized the value of decentralizing their property and monetary transactions, which makes DEXs a popular choice versus a traditional centralized exchange (CEX). DEX, or a decentralized exchange, replaces central authorities with an automated protocol so that users do not risk losing control of their assets to the exchange’s servers, effectively reclaiming ownership.

Despite their continued success, DEXs are still affected by many significant challenges, including their exclusive operation on smart contracts. This concern stems from decentralized exchanges that run on the chain and become subject to 3D scalability, resulting in higher fees and lower efficiency compared to their centralized counterparts. As a result, most DEXs offer limited liquidity which makes asset prices ineffective.

In addition, these exchanges still face the significant challenge of being difficult to use, which makes usability a major barrier to their adoption. If these concerns aren’t challenging enough, the past year has also shown the growing number of cyber thefts and other hacks possible without proper security protocols.

While DEX has yet to solve many of the security challenges faced by CEXs, the cryptocurrency trading industry continues to grow, creating demand for a solution that can address the advantages of DEXs without the weaknesses. Secretum is trying to change this narrative as a decentralized, crypto and secure trading DApp built on the Solana (SOL) blockchain. One of the main innovations behind this platform is the ability to trade all crypto assets, including those that are not exchangeable and not between users, along with a new era of peer-to-peer (P2P) over-the-counter (OTC) transactions and secure messaging.

Improve your DEX experience

To address these concerns, Secretum is looking to features that include a secure and anonymous registration process that relies solely on the user’s wallet address for cryptocurrencies. This anonymity is in stark contrast to the traditional process, which often relies heavily on verifying the user by name, email, or other personal data.

In addition to anonymity, the interface itself is designed to be more intuitive, with the P2P interface designed with the end user in mind, allowing for simple transaction between sending and receiving cryptocurrencies or NFTs. Secretum also leverages the intelligent public channel to further enrich project launches and enable conversations with validations for NFT group owners, crypto traders and investors.

More ideas about Secretum here

As far as costs are considered, offering competitive pricing is largely possible due to the capacity of the Solana blockchain. Solana is designed to manage more than 60,000 transactions per second with an average cost per transaction of just $0.00025. For users, this means that the fee is much better than the gas fee which is usually between 0.1% and 0.2%. In addition, traders are also given the ability to communicate with each other directly, which increases liquidity in the cryptocurrency market and improves execution times and prices.

The power of Solana blockchain

Secretum is currently backed by Venture Capitalists including Insignius Capital, Zen Capital, Cryptobuddy, Whitelist Ventures, DIB Ventures, Alphahunt and OXO Capital. The team has since launched its own sale, increasing the price of the token from $0.35 to $0.50. They continue to work on developing their MVP, with plans to launch it at a time strategically aligned with DEXs reaching billions of dollars in valuations. Secretum is set to release this version at the end of January, with a public sale proceeding.

disclaimer. Cointelegraph does not endorse any of the content or product on this page. While we aim to provide you with all the important information we can obtain, readers should do their own research before taking any actions regarding the company and take full responsibility for their decisions, and this article cannot be considered investment advice.