We’ve got an exchange for that! DogeDEX, a new decentralized exchange, has just officially launched. The Dogecoin focused platform enables atomic swaps of the cryptocurrency.
In slightly less technical terms, that means peer-to-peer exchanges. And in even lesser technical terms, that means users can directly exchange their digital coins without the need for a third-party, such as a centralized exchange.
Seems like everyone is talking about Dogecoin these days, from Elon Musk to Mark Cuban. And though it is still a meme coin, it retains its own standing alongside the likes of Bitcoin, Ethereum, and Ripple.
DogeDEX went live on March 1, and is the work of open-source cryptocurrency and blockchain solutions provider Komodo. The service is powered by the AtomicDEX engine, and is available through both desktop and mobile apps.
The company says that it has already seen over 3,000 downloads.
Kadan Stadelmann, CTO at Komodo:
“Crypto, like the internet, is so much about community and dogecoin is the currency of the internet. Decentralized exchanges and non-custodial wallets are a few of our specialties and we want to enable dogecoin’s considerable fanbase to trade crypto with the very latest technology – Atomic Swaps.”
The DEX also acts as a noncustodial wallet that lets users store their holding on the platform.
Komodo already has plans to build a fiat on-ramp for DogeDEX that will let users make cryptocurrency purchases directly using their traditional currencies. Engineers are already in the process of finishing this module up, and it is on track to go live next month.
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