The finance sector is evolving with time and has grown from being a fiat money to virtual currency. Not only it has digitized its platform but also made the transactions instant. Now the finance is moving toward decentralization.
A decentralized exchange will not appoint any regulatory authority to control the transactions. There would be no single authority responsible for running the system. In this community, the transactions would be between peer-to-peer and all the intermediaries are eliminated. All the money will be secured by strong security on servers and 24*7 monitoring. The encryption of data will also play a major role in keeping the transactions secure.
Benefits of a decentralized network
This network would bring a finance solution to a whole new level. The transactions can be at a global level and will not face any geography limitations. The service is instant and requires only Internet as a medium. Since the money circulation is online, it makes the process quick. There are no limitations when the transfer amount is concerned, provided the user has met all the KYC. This is a huge limitation when it comes to traditional banking.
All the transactions are available in the form of blocks using blockchain technology. The ledgers are an open source, which makes the transactions transparent. Since there is no single node but multiple nodes in the community anybody can view the ledger for transactions.
In a decentralized network, everybody is responsible for their own accounts and keys to keep their money secure. This can be beneficial in several ways. The centralized network has the single point of contact.
Future of crypto exchange
Decentralization shall soon be the future of finance. Individuals will not have to share their personal information anymore with any central authority. They can simply make their transactions and avail service by using their address or key. The cryptocurrency would be more manageable than ever.
The banks and other financial organizations keep their investments private in traditional banking. In decentralization, everything is transparent and has access to all the information. The decentralization will bring out many more innovations along with it such as micro-finance and smart contracts. Thus, finance would be more innovative and user-friendly with these new platforms.
Airfio is coming up with decentralized exchange
Airfio brings the smart era to crypto market, it is launching its own decentralized exchange in crypto worlf for the first time ever. The decentralized exchange is featured with all the facilities listed above. As initiation, the exchange would list two cryptocurrency to trade i.e ARF and BTC. Furthermore, it will have trading facilities for lot more cryptocoins.
This decentralized exchange application is based on the AI technology where machine learning assists in quick transaction confirmation with relatively less commission fees.
More about Airfio products are discussed here; Airfio advanced products
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