Waves DEX on Android
Sticking to the pattern of fast-paced development, partnerships and news that the community has grown used to, the Waves Platform has recently announced the integration of the Decentralized Exchange (DEX) on its Android client. The latest move provides mobile users with an intuitive and light solution that allows them to exchange blockchain tokens in a completely trustless environment.
The Decentralized Exchange can be found in the latest Waves Android client release, which now allows users to access the complete set of features from the Waves lite client itself. These include token issuance, leasing, access to the portfolio and now to the DEX. The Android client can be found here. The launch of the Decentralized Exchange for Android also coincides with the addition of the DEX to the CryptoCompare Index.
The latest update by the Waves team aims both to lower the entry barrier for new cryptocurrency users and to increase the security standards in the space. Sasha Ivanov, CEO and founder of the Waves Platform stated:
“Waves was designed from the outset to make blockchain tokens accessible to everyone and to bring cryptocurrency to the mainstream. The ability to access all the functionality of the platform from a mobile device isn’t just a desirable add-on — it’s a fundamental requirement to put crypto in the hands of anyone and everyone who wants to use it. The DEX is right at the core of the Waves ecosystem and I’m pleased to be able to announce it’s now an integral part of the Android client. Once again our dev team deserves credit for this important new milestone.”
What is the DEX and what it means for users
Although centralized exchanges provide a convenient service to cryptocurrency users, they have also become a point of failure that is repeatedly explored by hackers and criminals. Luckily, the blockchain world has evolved to a point where these exchanges have been outgrown and tokens can be traded with no counterparty risk.
This is exactly what the Waves DEX is, a decentralized market where users can trade waves-based assets, including Waves, Waves Assets, fiat tokens and cryptocurrency tokens like wBTC and wETH. Users can trade with no counterparty risk as all operations take place on the Waves blockchain itself, ensuring that no trust is required.
The recent update by the Waves team comes at a time when the problems caused by centralized exchanges are becoming more evident every day. From the infamous Mt. Gox hack to the most recent Bitfinex attack, exchanges have proven to be a primary target for cybercriminals. That’s not all, exchanges themselves may also be a threat to user’s funds as the recent BTC-e case has shown.
Overall, evolving decentralized exchanges like the Waves DEX can be the answer to one of the main impediments to mass adoption, the lack of security. To learn more, visit the official Waves Platform website.