What are the design highlights of the decentralized NGKEX?
Since the launch of NGKEX on March 6, California time, the decentralized ecological exchange, NGKEX has grown rapidly with the popularity of the NGK blockchain. It has seen a sharp increase within ten days since it was launched. The enthusiasm of the crypto market at the beginning of the year and the DeFi capital spillover caused by the high transaction cost of the Ethereum network are fueled by external factors, which are indispensable factors for the rapid development of NGKEX. Besides, the improvement and innovative design of NGKEX are also the key points.
Highlights of NGKEX
1. Fast transaction speed. The transaction processing time of NGKEX is about 3 seconds, which is lower than the average transaction processing time of Uniswap (about 20 seconds). Considering that the transaction efficiency will further decrease when the Ethereum network is congested, the transaction speed of NGKEX is significantly improved compared to Uniswap. The NGKEX is built and operated based on the NGK high-performance blockchain. In theory, the TPS of the NGK blockchain can reach up to 12,038 transactions per second, and the transaction confirmation time is about 3 seconds. The DeFi users can obtain a good experience on NGKEX.
2. Reduce transaction costs. When Uniswap trades 1000USDT, the average gas fee is as high as 30–50 US dollars, which greatly increases the user’s transaction cost. For transactions of the same scale in NGKEX, the gas fees are extremely low. This is because NGKEX is built based on the DPOSS consensus mechanism, which has low fuel consumption, so it effectively reduces the user’s gas fee.
3. Save transfer costs. NGKEX has opened the TRC20 channel, making transfers are completely free. At the same time, the transfer speed is also improved, and users can transfer money to the account within seconds.
Next steps for NGKEX
The popularity of DeFi has caused Ethereum to be in a difficult situation. However, it provides a good opportunity for the new blockchain. The NGK blockchain takes the lead in launching the NGKEX based on its own blockchain technology advantages. The NGKEX is not limited to the NGK blockchain, but it hopes to become the DEX with the best user experience in the entire DeFi field. At present, the NGKEX has realized asset interoperability through multi-chain deployment and created a full ecological transaction protocol. At the same time, it is expected to test and deploy the cross-chain protocol of the NGK blockchain and its sub-projects, allowing NGKEX users to switch in one click, freely transfer and trade their multi-chain assets.
The NGKEX has now become the gateway of the NGK blockchain ecology and the primary issuance place for the new assets of NGK blockchain. Currently, the NGKEX provides stop loss and limit order services, allowing users to get CEX-related trading services on DEX.
It has always been the pursuit and goal of famous cross-chain projects such as Polkadot and Cosmos to break the isolated data island of the blockchain and realize the transfer and circulation of value assets. Based on user traffic and asset advantages, the NGKEX cuts in from the perspective of DeFi applications as well as user needs and experience, so that it can take the lead in realizing the landing of cross-chain application scenarios. At present, as long as the liquidity and assets are connected across the chain by means of cross-chain asset mapping, coupled with user willingness to conduct cross-chain asset transactions, the volume growth and chemical reactions of DeFi and the entire cryptocurrency market cannot be underestimated.