Develop DEX projects using Velas

Decentralized exchanges do not have a single governing body, operate on the P2P principle, do not require registration, and do not store user funds. As a rule, decisions about the development of the project are made jointly with the community. All this causes the growing popularity of decentralized exchanges. Let’s take a closer look at what is DEX blockchain and the advantages of Velas in this area. Decentralized exchanges (DEX) are decentralized finance (DeFi) platforms based on the blockchain network. They do not have any governing body. Managed either automatically (smart contracts) or semi-automatically (by developers and the community). The main advantage that decentralized platforms provide is the security of assets. When working on the DEX, the user makes transactions directly from the wallet, and not an exchange account, which is essentially controlled by a third party. And now let’s find out what advantages Velas Blockchain brings to the DEX development. Velas uses several solutions to speed up the network, including validator clustering, task parallelization, and support for eBPF, a virtual machine with the ability to execute code in the operating system kernel. The Velas blockchain can process an enormous number of transactions per second. Their number is 50,000+ TPS. Also, throughput depends on the infrastructure of Internet providers and in theory can reach 700,000 transactions per second. And also Velas offers users one of the lowest commissions. Network transaction fees do not exceed $0.000001. Velas supports two types of smart contracts: the eBPF machine (C and Rust languages) and EVM (Solidity language). To call EVM contracts, you need to transfer VLX tokens to the EVM space using a bridge. Also, one DEX blockchain has already been created on Velas, which we will talk about now. WagyuSwap is the first DEX on the world’s fastest blockchain. This DEX is designed on a completely new blockchain, built on top of Solana, guaranteeing full compatibility with the EVM and the ability to easily connect tokens across multiple networks. Velas is already considered the fastest blockchain in the cryptocurrency universe, with over forty projects actively building on it at the moment. Decentralized exchanges usually try to adopt the blockchain ethos of insecurity and privacy. In this case, Velas will be the best option as this blockchain is very fast and has a high level of security. In the future, decentralized exchanges will be able to become a full-fledged analog of centralized ones and thus allow trading tokens quickly and safely.