Over the last decade, cryptocurrencies have managed to make their way to the mainstream global financial ecosystem. However, one grey area where the cryptocurrency market lacks is the security of the exchanges. However, do keep in mind that decentralized exchanges like AirSwap or Kyber, enjoy a higher degree of security than centralized ones.
The centralized operation of these exchanges has made them vulnerable to external threats. This year alone, exchanges across the globe have lost millions of dollars worth investors’ funds in digital cash. So despite enjoying the perks of decentralization offered by blockchain technology, we’re still not completely independent of the centralized exchanges.
DEX Security Report by ICO Rating Agency
To provide users with some clear insights while choosing a new exchange, ICORating.com has released its DEX Security Report. The report assesses security measures taken by exchanges across different parameters. It has measured the exchanges’ performance against four potential vulnerabilities negatively impacting them and their users.
This includes console errors, registrar and domain security, web protocols security, and smart contracts’ security. In the end, after analyzing exchanges on these metrics, AirSwap has topped the chart as the most secure cryptocurrency exchange.
— AirSwap (@airswap) October 24, 2018
AirSwap Is the Clear Winner
As seen from the charts table, AirSwap has the highest score of 74.5 followed closely by Kyber, IDEX, and Bancor. Needless to say, it is a completely decentralized, peer-to-peer token trading network built on the Ethereum blockchain.
The AirSwap network is also extremely flexible, scalable, and secure, designed to work on any device and support any token. The ultimate goal of AirSwap is to provide a frictionless trading experience for its customers.
AirSwap also allows buyers and sellers to trade directly from wallet to wallet using smart contracts. For instant mobile trading, the team has created an interface called #airswapgo.
The second one is the Kyber Network (KNC) which is popular for its decentralized atomic swaps. Just like the AirSwap, Kyber is also an Ethereum-based decentralized network powering instant conversion of digital currency tokens.
The Kyber on-chain liquidity protocol also allows integrating decentralized token swaps into any application. As a result, it provides for seamless value exchange to take place among all participants within the cryptocurrency ecosystem.
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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