Cyprto Academy week 4 Home work post for @yohan2on

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All You Need to Know about Uniswap
The Uniswap exchange is a platform for trading cryptocurrency, developed in 2018 at Ethereum. Making it a part of the second-largest crypto project of the world made by market capitalization. Thus, also rendering it compliant for ERC-20 tokens and other services such as MyEtherWallet and MetaMask.
Here is all you need to know about Uniswap, the current leader of cryptocurrency exchange.

Centralized vs Decentralized Crypto Exchange
The bulk of cryptocurrency trade happens on centralized platforms like Coinbase or Binance. These exchanges are controlled by a single authority, the exchange operator. Thus, it encourages users to position funds under its management. The main purpose is to enable trading using a conventional order book system.

In this conventional system, you get the display of buy and sell orders in a list along with the cumulative sum. You could normally call these numbers "market depth". But, to make a profitable transaction, you have to pair a buy and a sell order for the same quantity and price on the opposite side of the order book.

Uniswap is a different form of a platform that offers an entirely decentralized crypto exchange. Thus, it is not owned and controlled by a single company. On the other hand, Uniswap uses an integrated liquidity protocol, which is a breakthrough type of trading model.

How does Uniswap work?
Uniswap offers 2 smart contracts: one for the "Exchange" and another for the "Factory." When they are meeting a certain condition, they will perform a specific function. Do note that these are automatic computer programs.
The factory contract has the ability to add brand new tokens into the platform. Meanwhile, the exchange contract makes all token Trades possible. On the updated Uniswap v.2 platforms, any ERC20 tokens can be swapped with other tokens.
Uniswap solves all the liquidity problems you are going to have, when using centralized exchanges. It offers the solution in the form of its automated protocol.

By creating an incentive for people trading, Uniswap allows them to take roles as liquidity providers. Thus, Uniswap users collect their money in such a way as to fund and execute each and every trades available on the exact platform.
Every token, however, has a pool of how much users can raise funds. Moreover, the rate for a token is determined by the usage of a mathematical algorithm which is automatically calculated by computers.

How to use Uniswap?
It is actually very simple to get started with Uniswap. But, first, you have to be sure that you meet its requirement. You need to turn on your ERC-20 wallets such as WalletConnect, Fortmatic, Metamask, and many more. Once you do this, you will be eligible to trade or pay for gas via Uniswap.
This is a step-by-step guide on how to start using Uniswap:

Register by clicking Use Uniswap and connect your wallet by using the menu on the top right corner of https://uniswap.org

Log in to allow your wallet to connect to Uniswap.5. You will see the option to swap tokens directly on your screen after you manage to do this.

To start swapping, select the token and fill in the amount then simply click “swap.”

A pop-up window with transaction details will appear so you could get a closer look and confirm the transaction.

Wait for it to take place in the Ethereum blockchain. You could always check the progress by putting your transaction ID into https://etherscan.io/.
Now, you are ready to start using Uniswap, a leading platform for decentralized crypto exchange.

Thank You

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