Decentralized exchange Wallet

1. Centralized exchange and decentralized exchange have their own advantages and disadvantages, and the difference is very obvious. Let's take a look at the centralized exchange first. To put it bluntly, the trading mechanism of the centralized exchange is actually similar to our traditional stock trading
the first step is to register (open an account) and set the password. The second step is user authentication (KYC). The third step is to recharge. Here comes the key. The third step is the most important. Because you need to charge money to your address in the exchange before you can trade money in the exchange. The address of the exchange is actually a wallet address, but the ownership of the wallet is not the user, but the exchange, that is to say, the private key of the address, you don't have it!!! Do you understand the meaning

well, after recharging, the transaction is finished. The user submits the instruction (hanging order) to the server, and then the exchange will be responsible for matching the transaction, which is exactly the same as the stock. The last is cash withdrawal (withdrawal of currency). Users can send instructions to transfer the currency from the exchange address to their wallet address. The above is the trading mechanism of the centralized exchange. In these steps, all actions will have costs. No matter you recharge, trade or withdraw money, gas and handling charges can't escape
then let's look at the decentralized exchange. The trading mechanism is different from the centralized exchange. The first step is to register (open an account) and set the password. It doesn't make any difference. But then it's a little different. KYC is not used. But because there is a private key, the ownership of this address is completely controlled by the user. The second step is recharging. This is not very different from the centralized exchange. You still have to make your own gas
after recharging, we can also trade in the decentralized exchange. Users can also register orders, and exchanges will also be responsible for matching transactions, but the matching is done by smart contracts. Finally, cash withdrawal (withdrawal of currency) is initiated. After withdrawing currency, users can directly transfer the currency from the address of the exchange to their wallet address. This step is the same as that of the centralized exchange
the above is the trading mechanism of centralized and decentralized exchanges, and the difference between them is also obvious. Because all currencies in the central exchange are under its control, the trading efficiency is very high, and it is similar to the stock trading process, convenient and suitable for most users. Conversely, the risk lies in this. If the exchange itself loses its integrity or is attacked by hackers, the user's capital (currency) is not guaranteed
all the transaction processes of decentralized exchanges are completed by smart contracts, so the transaction efficiency is relatively low (TPS of blockchain technology has always been a soft rib), but relatively, the capital (currency) is completely in the hands of users, so the security is relatively high. In addition, there are also KYC, where KYC is needed for centralization, but not for decentralization, and the security of personal information is relatively high. Compared with the decentralized exchange, the advantages of the centralized exchange lie in the trading depth and the number of users, which are unmatched by the decentralized exchange
therefore, centralization and decentralization have their own advantages and disadvantages. It depends on the user's own choice. They like convenient, centralized, secure and decentralized.

2. When it comes to digital currency, the topic is the exchange. If you want to hold digital currency, besides mining, the most convenient and quick way is to buy it from the exchange
we all know that one of the biggest characteristics of digital currency is decentralization. However, 90% of the exchanges in the market are under centralized management. Users need to transfer funds to the large account of the exchange, verify their identity information, and do not link currency transactions. Moreover, all information needs to be stored in the offline database of the exchange, All these seem to violate the decentralized spirit and centralized mode of blockchain, which makes users in a weak position, passively accept the "management" of the exchange, and also bear the risk of privacy leakage, hacker attack, exchange bankruptcy or running away
therefore, the emergence of decentralized exchanges has become an inevitable trend. Decentralized exchanges are also called DEX
currently, whaleex, newdex and gatechain DEX are the most representative decentralized transactions. In fact, it is a mode of wallet and wallet trading. Compared with the centralized exchange, it has obvious advantages. For example, all operations are carried out on the chain. It is publicly accessible and does not need to be registered. Anonymous trading and privacy are guaranteed. Users' assets are stored in a distributed way. They have 100% of the management rights of assets and have high security
however, although decentralized exchanges have obvious advantages, they are still not widely available in the market. Decentralized exchange is not a very mature mode, and there are still some problems, such as slow trading speed, poor liquidity, key loss, forgotten password and unable to retrieve account assets. Therefore, it needs to be further improved. However, it is undeniable that decentralized trading must be the mainstream mode of exchanges in the future.

3. This is not necessarily true. After all, it is a digital cryptocurrency, each of which is separate and not stored on the website.

4. Centralized wallet, also known as off Chain Wallet, completely depends on the company and server running the wallet. bitcoin stored in the exchange is stored in the centralized wallet (off Chain Wallet). The private key is not owned by the user, but in the wallet project side of the centralized server hosting chain, the fund is usually entrusted to the server
private keys and assets are transferred to the wallet for centralized management. Users don't need to worry about the loss of the private key of this kind of wallet procts, resulting in the loss of funds; However, the capital risk will be more concentrated in the wallet project side and server side. When the centralized wallet is conquered by hackers, users will suffer unnecessary losses
decentralized wallets, commonly known as onchain wallets, have private keys maintained by users and assets stored in blockchains
decentralized wallets are often referred to as onchain wallets. The private key is handed over to the user. If the private key is lost, the wallet will not be able to help the user recover, and the funds will be lost forever. But the decentralized wallet is difficult to be attacked by hackers, and users don't have to worry about the self stealing of the wallet service provider
centralized wallets are where assets are stored, while decentralized wallets are where private keys are stored
except for the exchange, it is not recommended to use the centralized wallet, although losing the private key may help you find it. But there is always a risk that the company will run
a decentralized wallet is equivalent to a channel, a channel where you can master mnemonics to control your assets on the blockchain. For a decentralized wallet, the most important thing is to protect the security of the [private key]
the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

5. Centralized wallet, also known as off Chain Wallet, completely depends on the company and server running the wallet. Bitcoin stored in the exchange is stored in the centralized wallet (off Chain Wallet). The private key is not owned by the user, but in the wallet project side of the centralized server hosting chain, the fund is usually entrusted to the server
private keys and assets are transferred to the wallet for centralized management. Users don't need to worry about the loss of the private key of this kind of wallet procts, resulting in the loss of funds; However, the capital risk will be more concentrated in the wallet project side and server side. When the centralized wallet is conquered by hackers, users will suffer unnecessary losses
decentralized wallets, commonly known as onchain wallets, have private keys maintained by users and assets stored in blockchains
decentralized wallets are often referred to as onchain wallets. The private key is handed over to the user. If the private key is lost, the wallet will not be able to help the user recover, and the funds will be lost forever. But the decentralized wallet is difficult to be attacked by hackers, and users don't have to worry about the self stealing of the wallet service provider
centralized wallets are where assets are stored, while decentralized wallets are where private keys are stored
except for the exchange, it is not recommended to use the centralized wallet, although losing the private key may help you find it. But there is always a risk that the company will run

a decentralized wallet is equivalent to a channel, a channel to control its own assets on the blockchain by mastering mnemonics. For a decentralized wallet, the most important thing is to protect the security of the [private key]

the application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. with the popularity of blockchain and bitcoin, many related top domain names have been registered, which has a great impact on the domain name instry.

7. The representative of all nodes is bitcoin core
core wallet, which needs to synchronize all blockchain data and takes up a lot of memory, but it can be completely decentralized. Light wallet relies on other all nodes in bitcoin network, only synchronizes data related to itself, which can basically achieve decentralization. Centralized wallet does not rely on bitcoin network, all data are obtained from its own centralized server, but the transaction efficiency is very high, and it can be received in real time. The account you register in the transaction platform is the centralized wallet.

8. 1. I've seen and used the first imtoken. Every year, imtoken loses money, and every time it says that it is a decentralized wallet. It sounds like a shirking of responsibility and decisively unloading
2. I haven't heard of the second one. I guess it's a small wallet from somewhere. I might run away one day
3. Some exchanges provide channels for exchange. You call customer service, customer service will teach you. You can try ZB
- above. If you have any questions, please leave a message. DFG (Digital finance group) is committed to popularizing blockchain related knowledge, delivering the latest blockchain instry information and sharing interesting stories about blockchain.

9. Monroe is a decentralized cryptocurrency, which means it is a secure digital cash operated by the user's network. Transactions are confirmed by distributed consensus, and then the unchangeable records are recorded on the blockchain. Third parties don't need to be trusted to keep your monero safe

monero is based on cryptonote protocol and has significant algorithm differences in blockchain fuzziness. Monero's molar code structure is praised by Wladimir J. van der Laan, one of the core maintainers of bitcoin

Monroe is replaceable because it is private by default. Due to their association in previous transactions, monero units cannot be blacklisted by suppliers or exchanges

since its launch, monero has made several major improvements. First, it migrates the blockchain to different database structures to provide greater efficiency and flexibility; Set the minimum ring signature size so that all transactions are private, and implement ringct to hide the amount of transactions

Monroe coin also introces a new elliptic curve algorithm, which hashes the output distribution to the elliptic curve, which has never been seen in any previous research, but the Monroe coin research team believes that this is a safe hash function. However, there is no analysis to show whether the output of the function is randomly and evenly distributed or whether the implementation process is unidirectional. Therefore, it is generally regarded as a random function. The elliptic curve encryption of Monroe coin is based on Edwards curve. Edwards curve is fast, and in a specific definition, such as curve25519.

10. This is the currency of Koi 111 and other transactions. There is no exchange. It is the exchange of listed companies