Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Technology » IDEX Update Focuses on Major Pain Points in Decentralized Trading

IDEX Update Focuses on Major Pain Points in Decentralized Trading

by

IDEX's update marks the beginning of a roll out that hopes to bring the DEX back to the top of the pack.

Bitcoin Price why

Key Takeaways

  • Today IDEX rolled out a large update focused on improving users' experience.
  • The upgrade features off-chain order matching, which makes trading faster and more secure.
  • The next stage for IDEX is to introduce layer-2 trading without gas fees.

Share this article

IDEX, a popular decentralized trading platform, received a major upgrade that significantly improves user experience. 

IDEX Gets a Makeover

The event signifies another step in improving decentralized trading performance, which brings platforms like IDEX closer to their centralized counterparts.

The team focused on eliminating front-running, a malicious practice of paying more gas to buy or sell an asset before a person who has already initiated a trade. Moreover, users can say goodbye to failed transactions, often causing frustration on other leading DEXes like Uniswap.

The performance enhancements come from the off-chain order matching mechanism. While remaining non-custodial, IDEX can quickly match orders in an optimized environment without opening windows of opportunity to front-runners.

The combination of decentralization and functional efficiency makes the platform a strong contender to become a leading DeFi exchange. Users control their funds, so they won’t suffer even if IDEX ceases to exist, which is a substantial risk on centralized platforms. 

Additionally, private off-chain order books open the platform to high-frequency traders and market makers. With a throughput of hundreds of thousands of trades per second, as well as fast trade cancellation, these market participants can conduct their business without trusting large amounts of crypto to anyone. The team also changed the platform’s domain to IDEX.IO rather than IDEX.MARKET.

Further developments, including Layer 2 trading with no gas fees, are also in store. IDEX upgrades will be released in three phases, so each update is extensively tested before the next one is released.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.