Today's Internet is a world dominated by WEB2.0, so how can we shift to the world of WEB3.0, a permissionless and trustless network?
In the WEB2.0 era, with the Internet giants as the core, multiple ecosystems were formed and the industry was characterized by a monopoly on data, value, and network functions by Internet companies. This monopoly has created strong barriers to entry and boundaries between different ecologies. The most important resource that the Internet world is competing for is the traffic flow (user attraction and capital stream). All this will undergo profound changes in the WEB3.0 era: the WEB3.0 world will be fully open, and users' behavior will not be limited by ecological isolation. The privacy of user data will be fully protected using encryption algorithms and distributed storage. In the WEB3 world, content and applications will be created and led by users, fully realizing the value of the platform through joint creation and governance.
MEME DEX - A World of Openness, Privacy and Co-Building
Blockchain and WEB 3.0 follow each other. Blockchain, as part of a new generation of information technology, is a new type of aggregate of distributed networks, cryptography, smart contracts, and other technologies. WEB 3.0 introduces the concept of a decentralized Internet that allows profit-seeking third parties to have less control over user interactions and money transfers. Essentially, WEB 3.0 provides the foundation for p2p communications, payments, services, and marketplaces, with artificial intelligence, distributed storage protocols, and more secure cryptosystems. And blockchain is playing an important role in the current development of WEB 3.0.
MEME DEX is a full-featured WEB3.0 based decentralized cryptocurrency exchange. The main focus is on U-based contracts, supporting USDT charging and withdrawals for the ETH main network, USDC for TRON networks. After adding funds into the platform's contract address, the system's smart contract will issue the same amount of USD in the platform to start trading. Most importantly, users will keep control over their funds in their wallets, increasing the transparency and trust of transactions. In MEME DEX, after connecting to the platform using a wallet address on any of the supported public chains and depositing assets, the user is considered to be registered successfully and becomes a full user of MEME.
With the improvement of the performance of the underlying public chain and the breakthrough of smart contracts, side chain and cross-chain technologies, MEME DEX has been greatly improved in terms of asset security, transaction process design, order aggregation and on-chain transaction speed, gradually reaching an user experience comparable to centralized exchanges. It also has advantages that makes it ahead of other decentralized exchanges such as multi-chain asset support, open-source smart contracts to control the whole process of asset interaction, decentralized asset isolation and identity verification, and transfer of data ownership and value.
Multi-chain Asset Support
The development of cross-chain technology, interoperability between multiple chains and assets, and smart contract trading have are now a reality. MEME DEX has made it possible to support for multi-chain, multi-currency, and multi-asset trading to enable the transfer of assets. All that while increasing the range of options available to users, which will also enhance the liquidity available compared to that of decentralized exchange assets.
Open-source smart contracts control the whole process of asset transactions
MEME DEX does not store user funds and personal data on its servers, but simply serves as an infrastructure for matching buyers and sellers who wish to trade digital assets. Such transactions happen directly between participants (peer-to-peer) with the help of a matching engine. It enables users to buy or sell tokens on the chain without having to find a specific buyer or seller beforehand. Also, unlike centralized exchanges such as Coinbase or Binance, MEME DEX enables users to keep full custody of their assets.
Decentralized asset isolation and identity verification
The core of MEME DEX is "decentralized custody". In other words, during the transaction process, no centralized institution can access your assets: users always keep their assets in their own hands and only need to operate when they need to exchange coins to meet their needs. In this whole process, the digital assets are on the user's wallet address from the beginning to the end, without going through any third party.
Privacy: Transfer of data ownership and value
Data privacy has become the focus of global regulators. Meme DEX's solution is to introduce privacy computing and ensure that data is invisible in plain text through homomorphic encryption, multi-party secure computing, trusted execution environment and other technologies. In the era of Web3.0 users are more conscious about protecting their privacy and their data. With the decentralization of applications and the availability of data on the chain, users’ behavior-generated data and application protocols need privacy protection. Meme DEX has many functionalities focused on privacy protection, including basic blockchain platform privacy protection, stored data privacy (distributed storage), user private key management, anonymous protocols and so on.
Meme DEX is designed to be a decentralized and transparent platform promoting encryption technology to solve DEX users’ everyday problems such as buy and sell new assets safely and fairly and enjoy a smooth operation experience.
WEB 3.0 is moving towards a mass-market economy.
Currently, even if Web3.0 still has many development problems, it is slowly becoming a reality. On the eve of this innovation, many industries are full of excitement. For example, the concept of metaverse, which has been widely talked about in the past few months, seems to be possible only with Web3.0 technology; Also, new Internet of things and virtual network ecology composed of mobile phones, VR, AR, wearable devices and other hardware.
MEME DEX believes that "the inevitable transformation to Web3.0 will need to consider the practical needs of Web2.0 users. Merging the most useful functions of centralized and decentralized exchanges may be the key to the large-scale adoption of digital asset trading based on Web3.0.”
MEME DEX uses Web3.0 to its larger extent, and blockchain networks need to pay more attention to the user needs, to ensure that their personal data is more secure and private. Since there is no centralized server, the power of all data is in the hands of users, so they don't have to worry about their asset getting stolen or misused.”
As history often teaches us, it is better for one to adopt new technology rather than oppose it. In Web3.0, controlling your transactions and your assets is a key step in this digital evolution process. Therefore, it is our common mission to invest in these new technologies.