CODEX - BLOCKCHAIN BASED DECENTRALIZED CRYPTOCURRENCY EXCHANGE

Desember 26, 2019

INTRODUCTION
Nowadays, cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and some others have become a global investment known to most people. We have seen lots of cryptocurrency projects in this present age which this has raised the total market capitalization to more than $500 million in recent years. Among all the cryptocurrencies, BTC share in the market capitalization is roughly 50%.

According to the recent study, number of unique active cryptocurrency wallets is estimated to be more than 7 million and it was also discovered that nothing less than 10,000 people are working full-time in the cryptocurrency companies in which the exchanges sector has the highest number of operating entities and employs more people than any other sector in the cryptocurrency marketplace. At present time, CoinMarketCap has more than 250 exchanges listed. One can only imagine how many individuals are engaged in the industry. Considering today’s hype around cryptocurrencies it's always a surprise when i see the low level of adoption of cryptocurrency in this global age. Part of the problem identify with the slow adoption of cryptocurrency is the issue of centralization, insecurity among many others. But today CODEX project has come up with a solution that will solve all the problem associated with cryptocurrency, and majorly it's exchange.

CODEX is a decentralized exchange for traders around the globe and the beauty of this exchange is that, traders can trade in the platform with Zero Fees. As we have known we have different type of exchange in cryptocurrency world which are CENTRALIZED and DECENTRALIZED.

Centralized exchanges are trading platforms that operates like local brokerage or stock markets. A CENTRALIZED exchange platform is majorly owned and operated by a company or group of people that maintains total control over all existing transactionswithin the platform. One of the probelms facing the centralized platform is that, Users of CENTRALIZED exchanges do not have access and control to the private keys of their exchange account’s wallets. This puts all of user’s trust in the hands of the exchange operators, as transactions can only be made through the mechanisms provided and approved by a central authority. But what happens to users fund should incase problem or unforeseen circumstances arises in the centralized platform such as security breaches? Does that means the end for the users and traders in the platform?. I think this is where CODEX exchange platform has come into play by providing answers to these questions above through the launch of a new decentralized platform that gives total control to users irrespective of the situations.
Much like cryptocurrencies, no companies operate DEX, as they are utilizing blockchain (distributed ledger) technology. In this way a DEX does not hold customers’ funds, positions, or information, and only serves as a matching and routing layer for trade orders which is exactly what CODEX exchange has promised it's users.

In terms of security, CENTRALIZED exchanges are proned to lots of hacks and atfacks. They are not immune to hacks and attacks from external forces. We have seen more than 20 cryptocurrency exchanges been hacked over the years as a result of vulnerability in their system Users and Traders of Decentralized Exchange experienced lowers risks compare to Centralized exchange simply because their nodes are distributed through the power of blockchain technology. Am happy to inform you today that CODEX team has adopted this same technology to improve the users experience through the launch of it DECENTRALIZED EXCHANGE platform. Users of CODEX platform will have full contril and access to their funds within and outside the trading platform.

Another important reasons why you have to adopt the use of CODEX decentralized exchange is that CENTRALIZED platform are opened to lots of threat from government and authorities. Different policies from government has affected the smooth operations of some centralized platform over the years. But because of the distributed nature of CODEX DECENTRALIZED exchange it will be difficult for any government or authorities to have total control over the platform.

Another reason why traders have to consider CODEX decentralized exchange is because of it high privacy level. It was discovered that privacy is limited and risk is always high in centralized platform because users will be required to provide a wide range of private and sensitive informations about yourself such as ID-CARD and bank account informations in which decentralized platform will never ask of such. All transactions in Decentralized platform are always anonymous

TOKEN DETAILS
Token Name: COD1
Token Price: $0.05