With the explosive growth of DeFi, it has now entered a competitive stage. Due to the very prominent contradiction between the explosive growth of demand and the bottom technology, the current development of DeFi is constantly changing. In particular, the congestion of Ethereum has formed the spillover effect of DeFi. In this context, NGKEX based on the NGK blockchain came into being.
Obviously, DEX is very important to the entire DeFi ecosystem. The NGKEX is the first DEX application on the NGK blockchain. It has successfully obtained on-chain resources on the NGK blockchain and is expected to become another new dark horse in the NGK blockchain ecosystem. There is no doubt that the emergence of NGKEX has been widely recognized by the blockchain itself and its global fans gradually registered accounts on the official website of NGKEX. They deposited funds for the first time, and participated in the transactions supported in NGKEX, which greatly increased the liquidity of NGKEX. In addition, the NGKEX has also been affirmed by major institutions. Many large institutions have invested to support the construction and development of NGKEX. Therefore, under this context, can NGKEX surpass Uniswap in the future? In other words, what else does NGKEX need to catch up with Uniswap?
NGKEX is a DEX based on the NGK blockchain. It is similar to the business model of Uniswap. Both support crypto trading, OTC trading, leveraged trading, and contract trading, but they are based on different underlying blockchain and consensus mechanisms. Looking at the development trend of NGKEX, we can use a broader perspective to understand the future possibilities of DEX and the overall landscape.
As we all know, Uniswap is built based on the Ethereum protocol and uses ETH as a miner fee. With the increasing number of Dapps on the Ethereum chain and the increasing popularity of DeFi, various problems on the Ethereum such as low TPS, high gas fees, and frequent congestion have been exposed. The Uniswap’s gas handling fee could range from US$76 to US$153. The high handling fee caused many users to yell, “could not afford to trade”.
The emergence of NGKEX solves the concerns. It is based on the bottom technology of the NGK blockchain and adopts the DPOSS consensus mechanism, which greatly reduces the gas consumption and saves the user’s handling fee. In addition, the NGKEX also uses distributed storage and graphene technology to support large-scale transactions.
In addition, in terms of transfer fees, the NGKEX is completely free! Because it has opened the TRC20 channel, which can reduce the transfer fee to zero. Moreover, by using the TRC20, the NGKEX can achieve faster transfer speed up to seconds.
The NGKEX has another big advantage, that is security. It uses cryptography technology to encrypt the user’s digital assets and personal data, ensuring the user’s digital assets and personal privacy. At the same time, the NGKEX adopts the public and private key method, especially the private key, which can only be held by the user and cannot be tampered with by anyone. This greatly improves the security of the user’s digital assets.
Currently, DEX is still in its early stages of development, but as a core application in the DeFi field, user experience is very important. Users want to enjoy platform services with low transaction costs, low transfer fees, low slippage, high transfer speed, and high trading speed. With that, the NGKEX fully meets such requirements.
In summary, compared with Uniswap, the NGKEX has more room for development in the future, and it can better meet the transaction demands of users. Thus, it is expected to surpass Uniswap.