Blockchain technology is a structure that stores transactional records, also known as the block, of the public in several databases, known as the “chain,” in a network connected through peer-to-peer nodes. Blockchain is a specific type of database. It differs from a typical database in the way it stores information; blockchains store data in blocks that are then chained together. Soku Swap is a revolutionary platform in Blockchain technology that will spread learning across you.
What is Soku Swap?
Soku Swap is a decentralized exchange (DEX) hosted on the Ethereum Network and the Binance Smart Chain. DEX uses automated market maker smart contracts to create a liquidity pool from ERC-20 tokens and BEP-20 tokens. Its features allow users to trade using an algorithm versus the order book used on conventional exchanges. The platform is designed to be easy to use, support privacy, lower fuel costs. Soku Swap is designed for traders and performs very well as any other smart contract component that requires guaranteed on-chain liquidity.
•Advantages of Blockchain in Soku Swap•
•Accuracy of the Chain•
Transactions on the blockchain network are approved by a network of thousands of computers. This removes almost all human involvement in the verification process, resulting in less human error and an accurate record of information. Even if a computer on the network were to make a computational mistake, the error would only be made to one copy of the blockchain.
•Cost Reductions•
Typically, consumers pay a bank to verify a transaction, a notary to sign a document, or a minister to perform a marriage. Blockchain eliminates the need for third-party verification and, with it, their associated costs.
•Decentralization•
Blockchain does not store any of its information in a central location. Instead, the blockchain is copied and spread across a network of computers. Whenever a new block is added to the blockchain, every computer on the network updates its blockchain to reflect the change
•Secure Transactions•
Once a transaction is recorded, its authenticity must be verified by the blockchain network. Thousands of computers on the blockchain rush to confirm that the details of the purchase are correct. After a computer has validated the transaction, it is added to the blockchain block.
•Transparency•
Most blockchains are entirely open-source software. This means that anyone and everyone can view its code. This gives auditors the ability to review cryptocurrencies.
Why did you choose Soku Swap?
Soku Swap is designed with gas efficiency at its core. Using the AMM smart contracts we’re able to lower gas fees to 10% of normal exchanges. This gas efficiency is replicated in nearly all swaps between supported cryptocurrencies on the platform. Soku Swap has significant gas reductions compared to on-chain order book exchanges. And due to the higher fees on the ETH Network due to the massive recent interest in NFT’s, the ability to make swaps on the Binance Smart Chain, allows you to make trades with even lower fees. Adding liquidity involves putting an equivalent value of either ETH & ERC20 or BNB & BEP20 tokens into the related exchange contract. The first liquidity providers determine the initial exchange rate by depositing what they think is comparable to the coin and tokens value. If the initial rate is low, arbitrage traders will bring the rate to equilibrium at the initial providers’ expense. Liquidity providers can opt to burn their liquidity tokens to withdraw their contributions in the pool.
What do people hate about crypto exchanges? Is this a major drawback in customer service? I know this is one of the Soku Swap team’s main complaints. So, Soku Swap decided to fix it. Soku Swap will chat 24 hours a day so you’ll never have a question you can’t answer. No matter where you are, there is always someone at one click to help if you need them from Soku Swap.
For more information:
Website: https://www.sokuswap.finance
Twitter: https://twitter.com/SokuSwap
Telegram: https : //t.me/sokuswap
Discord: https://discord.gg/DgNnfGWbd4
Facebook: https://facebook.com/Soku-Swap-102896308602496
Youtube: https://www.youtube.com/channel/UCdJFtg_BmXHhPeCJVgoqF3A
Medium : https://sokuswap.medium.com
ANN: https://bitcointalk.org/index.php?topic=5327040.0
#SOKU, #SokuSwap #DeFi #DEX #Bitcoin #bestcryptocurrency
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Bitcointalk Unsername: KenzoKen
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BEP-20 Address: 0x42bf3b13486f392c24ce814c5B5b131d7247a6ec