Komodo develops DOGE Exchange with atomic swaps

Komodo, an open cryptocurrency project and blockchain solutions provider, has developed DogeDEX. This is a peer-to-peer decentralized exchange powered by the AtomicDEX engine. DogeDEX has been downloaded thousands of times since its release on March 1 and nearly 200,000 DOGE swaps have been executed.

“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 Shiba’s considerable fanbase to trade crypto with the very latest technology – atomic swaps,” said Kadan Stadelmann, Chief technology Officer at Komodo. With ‘Shiba’, Stadelmann is referring to DOGE. Notably, Komodo’s first atomic swap of Doge to Ethereum was back in 2017.

With atomic swaps, traders can exchange crypto directly, peer-to-peer, without the intervention of a third party or intermediary.

Atomic swaps fit well with the blockchain ideology. There is no permission required in order to perform a swap, it goes through a decentralized system, the administration is transparent and users remain in control of their own coins.

Any updates to the underlying AtomicDEX engine will automatically update the DogeDEX to keep it as efficient and advanced as possible.

The DogeDEX is designed with optimum user experience in mind, allowing users to sign up and start trading within minutes. This is in line with Doge’s current target audience, mainly young traders who are introduced to cryptocurrency through influencers and social media.

The DogeDEX will be available on desktop, via browser and there is also a mobile application. Users can also store Doge with a non-custodial wallet, as is common with decentralized exchanges, thereby managing their own private keys.

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