What is ECX Exchange?
The growth of the cryptographic market has increased the growing concern about security. Examples such as Mt. Gox in 2011, and again from Bitfinex in 2016, where it resulted in losses for its customers awakened the need for another approach that offered customers security. This is the decentralized exchange proposal, which eliminates the need for third parties in the negotiations by returning control of their finances to the user.
Decentralized exchange houses (DEX) allow your users to buy and sell crypto-currency without third parties involved. While the traditional exchanges keep the assets of its customers in custody thus offering a very high risk of losses of balances . (DEX) do not have to worry about this since it does not keep in custody the balance of its users leaving everything under the control of every customer.
Under these systems, trades are executed by smart contracts on a blockchain, removing the need for a centralized third-party to control user accounts