Blockchain networks updating fast
Kyber Network has just opened its doors to non-custodial limited order, which will be available on its KyberSwap DEX. The feature was introduced today by the Decentralised exchange in order to bring its services more in line with traditional exchanges.
These limited orders will allow traders to specify prices at which they would like to trade tokens and will become an alternative to the market orders which sell tokens at their current fluctuating market prices. Limited orders are important as they represent an important trading tool because of the risks of market orders.
Trades can be made at a very low price if the market plummets between trades. These orders will be non-custodial which gives the users of KyberSwap the ability to place limited orders with funds in their wallets.
The Development of DEX’s
KyberSwap was built on the Kyber Network protocol that is focused on building DEX’s in the cryptocurrency space. Currently, more than 60 projects are using the protocol for token exchange via Ethereum wallets and Coinbase wallets.
The network has managed to see significant increases in volumes within the past five months and currently has about 14,000 users.
Most Decentralised Exchanges are still in development and still working on making these exchanges work with features and the convenience of a centralised exchange.
Another great DEX is the protocol 0x, which is working on an “order book”, while using other technologies to make it scalable.
The race for the development of decentralised crypto exchanges has been growing over the past few months and there are even greater benefits for users as DEX exchanges develop further.
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