RATE Group | Decentralized Cryptocurrency Exchange Switcheo Lists XIO Blockchain Network
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Decentralized Cryptocurrency Exchange Switcheo Lists XIO Blockchain Network

06 Nov Decentralized Cryptocurrency Exchange Switcheo Lists XIO Blockchain Network

Posted at 13:24h in Cryptocurrency News by

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Decentralized cryptocurrency exchange Switcheo has announced the listing of XIO Network (XIO). User’s of Switcheo can trade XIO for Ethereum.

Switcheo is the first cryptocurrency exchange that allows cross-chain trading in Ethereum, NEO, and EOS.

Decentralized exchanges are different from centralized ones in that the exchange has no wallet to hold the user’s cryptocurrency. Thus, during the time users trade on the exchange, the Cryptocurrency remains in their wallets. It protects users from hackers who have previously hacked into centralized exchanges and stolen cryptocurrency.

Earlier decentralized exchanges were very cumbersome as users had to wait till their transaction appeared on the blockchain, and this took a few seconds to a few minutes. Switcheo has solved this problem by creating smart contracts and an off-chain Switcheo Matching Engine. Cryptocurrency traded by a user is stored in a smart contract and not in a centralized wallet. The off-chain matching engine records…

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