What is the medium of exchange nowadays (what is carried out for the purpose of exchange)

What is the medium of exchange now

What is trading for exchange

is also very popular in the world of Cryptocurrency. However, not all encrypted assets are suitable for swapping in this way. It requires a method for users to transfer funds directly from their wallets

If you want to use Bitcoin as a means of value storage, you can convert the money with another party (such as the exchange or Market maker) into dollars and send it to the designated address. Then you can access other tokens on the exchange through a network called ‘Coinbase’. For example, “Bitcoin”, “Ethereum”, “Litecoin” Usually, when someone purchases and sells Bitcoin, people will demand payment from them. And if one day this process occurs in the wallet he controls, then these tokens will be redeemed. Therefore, when both parties start talking to each other, they will transfer their digital currency back to you. But in any case, traders can use them to earn interest. This is because any transaction can be processed on the blockchain without relying on third-party participation to verify the correctness of the transaction. To avoid the above situation, some protocols are creating new liquidity pools to support their operation. (CryptoPotato)

According to the data of CoinGecko, there are more than 100 different projects providing similar services on the Ethereum blockchain. In terms of DeFi, Uniswap is one of the largest lending markets with a total lockdown of $300 million, followed by MakerDAO and Compound However, despite some recent incidents of smart contract vulnerabilities, most projects have yet to determine when security measures will be resolved Due to many platforms ceasing to provide smart contract functionality, many developers still feel confused about smart contracts. Although they currently do not recommend such operations on blockchain platforms, they still hope to see more projects follow their development and gain greater market share, including Aave, Curve, and other platforms In addition, due to the lack of transparency limitations, many platforms do not have sufficient technical strength to ensure their security. For example, Uniswap is a platform that allows traders to choose a Stablecoin that minimizes price fluctuations For many emerging projects, this is a great opportunity to achieve this goal: by using decentralized applications and blockchain based products, users can exchange ERC-20 tokens on multiple platforms. Over time, we will continue to study how to improve smart contracts and introduce more features in the future.