Uniswap, a decentralized cryptocurrency exchange built on the Ethereum blockchain, has surpassed the $2 trillion mark in lifetime trading volume. This massive milestone puts Uniswap in direct competition with some of the largest centralized exchanges (CEXes) in the world, highlighting the growing popularity of decentralized finance (DeFi).
Uniswap works differently from traditional, centralized exchanges. It does not have an order book where buy and sell orders are listed. Instead, it uses a mechanism called Automated Market Making (AMM), which provides liquidity via liquidity pools that are funded by users.
Decentralized exchanges like Uniswap provide numerous advantages, such as reduced censorship, better privacy, and control over one’s coins. However, they also come with risks such as smart contract bugs.
The growing trading volume of Uniswap and other DeFi platforms indicates a shift in the cryptocurrency world where users are choosing decentralized platforms over more traditional ones. This trend shows the growing acceptance and maturity of the DeFi space.
Uniswap Hits $2 Trillion in Lifetime Trading Volume, Rivals Major CEXes
Uniswap, a decentralized cryptocurrency exchange built on the Ethereum blockchain, has surpassed the $2 trillion mark in lifetime trading volume. This massive milestone puts Uniswap in direct competition with some of the largest centralized exchanges (CEXes) in the world, highlighting the growing popularity of decentralized finance (DeFi).
Uniswap works differently from traditional, centralized exchanges. It does not have an order book where buy and sell orders are listed. Instead, it uses a mechanism called Automated Market Making (AMM), which provides liquidity via liquidity pools that are funded by users.
Decentralized exchanges like Uniswap provide numerous advantages, such as reduced censorship, better privacy, and control over one’s coins. However, they also come with risks such as smart contract bugs.
The growing trading volume of Uniswap and other DeFi platforms indicates a shift in the cryptocurrency world where users are choosing decentralized platforms over more traditional ones. This trend shows the growing acceptance and maturity of the DeFi space.
