Deep dive: Polkadex Orderbook

  • Users of traditional centralized exchanges who enjoy speedy transactions, advanced trading tools and an easy-to-use interface but have to trust centralized operators and thus give away control of their assets and identity taking on more risk;
  • Users of decentralized exchanges who retain control of their assets and thus lower their risk of losing funds, but have to put up with an inferior user experience, limited functionality of the platforms and network-specific issues.

Centralized exchanges (CEXes)

Advantages

Disdvantages

Decentralized exchanges (DEXes)

Advantages

Disadvantages

Meet the game changer: Polkadex Orderbook

Features of Polkadex Orderbook

Broad functionality and advanced trading tools

Convenient and pleasant user experience

Custody and security of funds

Fiat support

Lightning-fast transactions

Zero gas fees

No front-running

Interoperability between blockchains

Cross-chain liquidity support

No slippage

Privacy and diversity of the ecosystem

How Polkadex makes it all possible

  • Polkadex Network is the native blockchain that contains the Polkapool (Polkadex’s liquidity pool-powered swap platform) and secures the actions of Polkadex Orderbook.
  • Trusted Execution Environment (TEE) is a technology invented by Intel that allows modern CPUs to have an isolated section independent of the Operating System, BIOS and other core components of a computer. Its main advantage is that the computation executed in TEE is verified by the blockchain and any tampering in the logic will result in the blockchain rejecting the TEE. TEE handles the balance state management of users in the Orderbook. It prevents theft of funds, verifies the matched trades provided by the Orderbook Engine, settles trades and enables traders to reserve and unreserve assets on the native blockchain.
  • Orderbook Engine maintains a high-performance Orderbook, matches trades and provides them with TEE for verification and settlement.
  • IPFS or Interplanetary File System maintains a snapshot of the latest state of balance transfers. In case the hardware is corrupted or the network access is lost or if the operator itself is compromised or turns into a bad actor, the blockchain rejects all future transfers from the orderbook and returns the funds to its users within 12 seconds, the fastest recovery mechanisms available in the market today. This acts like an insurance policy for the entire exchange.

Conclusion

A sneak peak into what is to come

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