The ecosystem #Oasis includes various elements, including the exchange. Here is a summary of its main features, with a focus on OasisDEX.
What is OasisDEX?
OasisDEX is a decentralized exchange (DEX) based on an order book that operates on Ethereum. It was one of the first DEXs launched, originally in 2016, even before the first Maker protocol. It is a completely decentralized protocol that allows anyone to provide and access liquidity on the blockchain, with support for limit orders.
Main features
* Decentralization: As a DEX, it does not require an intermediary or third party to hold users' funds, offering greater security and autonomy. It is not centralized and does not accept deposits in fiat currency.
* Low fees: It does not charge trading fees. The only cost for users is the small "gas fee" needed for transactions on the blockchain.
* Limit orders: Unlike many other DEXs, OasisDEX supports non-custodial limit orders, a feature often absent on other decentralized platforms.
* Transparency: All information on the order book and transactions is verifiable through a blockchain explorer like Etherscan, leveraging the address of the Oasis Trade smart contract.
* Architecture: The Oasis ecosystem in general, and thus the exchange, benefits from a two-layer architecture: a consensus layer (Consensus Layer) and a runtime layer (ParaTime Layer). This separation allows for more transactions to be processed in parallel, improving scalability and speed.
The importance of privacy
In addition to the exchange, the entire Oasis network is known for its focus on privacy. The architecture supports confidential "ParaTime" layers, which use technologies such as "secure enclaves" to keep data private during processing. This aspect is crucial for the development of DeFi applications and open finance that require greater confidentiality.
