Decentralized Exchanges (DEXs) are laying the groundwork for cryptocurrency trading in the future. To maintain off-chain order books, liquidity, and other functions, many DEXs still rely on centralized databases, which undermines the openness that these platforms really support.
Their activities become less apparent to end users as a result of this centralization, which also raises issues with cost, efficiency, scalability, and transparency. The urgent need for more decentralized solutions in the DEX ecosystem is highlighted by this fundamental limitation.
Decentralized databases fill this need by providing a transparent and untrusted architecture to deal with these issues. The Kandola Network, a Web3 data layer that is establishing new standards for decentralized database technology, stands out in this field.
It’s important to comprehend what decentralized databases are and why they are critical for the next generation of decentralized apps before learning more about how Kandola Network is changing the decentralized database environment for DEXs.
Overview of Decentralized Database Systems
Conventional databases rely on a single point of control since they are centralized. This design is prone to a number of problems, such as single points of failure, downtime, and security breaches.
On the other hand, decentralized databases are dispersed among several nodes. This architecture makes sure the system keeps working even if one node fails. They also provide enhanced security, resistance to censorship, and transparency—all attributes that are in perfect harmony with the blockchain community.
One great illustration of how decentralized databases are advancing the possibilities of DEXs is the Kandola Network. The network can presently store more than one million data points per second with four private testnet clients and more than 180 days in the testnet phase. As of the time this article was published, they had four filed patents and nine pending, demonstrating their commitment to innovation and advancement and differentiating them in the cutthroat field of Web3 technology.
Features that Change the Game for DEXs with Kandola Network
Cost-Efficiency and Affordability
Inexpensive Rates: Exceptionally cheap prices; in comparison to typical systems, expect a minimum 80% cost savings. One of the best-value options available on the market is Kandola Network. The cost savings are noticeable when contrasted with conventional cloud databases.
Direct Benefits to Users: Affordable prices apply to more than only DEXs. Because of the way the platform is built, DEXs are able to pass these cost savings on to its customers, which can draw in more users and result in more reasonable transaction rates.
Consider a startup attempting to introduce a decentralized application. They have a restricted budget, so they decide to use Kandola Network for data storage because of its affordability, which frees up cash for other important areas like user acquisition and marketing.
Better Scalability Features
Advanced Technologies: Kandola Network has led the way in scalability by using dynamic subnets, sharding techniques, parallel chains, and other innovative methods.
Meeting Growing Demands: DEXs need a network that can manage massive transaction volumes since they are expanding at previously unheard-of speeds. Kandola makes sure that these transactions happen quickly and easily.
Consider a well-known DEX that sees an unexpected spike in user activity as a result of a popular cryptocurrency. The platform manages this surge without hiccups or delays because to Kandola’s sophisticated scalability, ensuring seamless transactions.
Adaptable Data Storage Systems
Customizable Storage Duration: Kandola Network departs from the conventional storage solutions that are tailored to a single user. Users are free to indicate how long they specifically desire data stored for.
Pay-as-you-Go: There aren’t any extra expenses. Customers make sure they get the most value for their money by paying just for the storage period they want.
Envision a DEX organization that is required by law to retain enormous volumes of data, but only for a six-month project. They utilize Kandola Network to specify their storage needs and pay only for those six months, assuring no wasted expenditures, as opposed to paying for a full year or more.
User-Friendly Interface
Variety of Development Tools: A wide range of tools are available for developers to use, including SDKs, APIs, well-known SQL, NoSQL structures, and more. This array guarantees a hassle-free integration of the Kandola Network with current systems.
Users’ Simplified Navigation: The end-user experience is critical for every platform. The Kandola Network’s user-friendly layout makes it easy for even non-techies to browse around.
Consider a developer that is unfamiliar with advanced coding since they recently moved from another industry. Without being bogged down in complex codebases, customers can still create and deploy their DApps using Kandola’s No-Code tools and well-known techniques.
Improved Communication in Real Time
Kandola is a leader in real-time communication, delivering and storing data in practically real-time.
Instant Confirmations: Makes sure transaction confirmations on DEXs happen instantly, which increases user happiness and system confidence.
Envision a trader keeping a close eye on the markets and acting quickly to purchase or sell. They complete a deal and get quick confirmation because of Kandola’s high TPS, which helps them avoid losing out on any profitable possibilities because of delays.
Reliable Performance and Uptime
Trustworthy Architecture: The foundation of Kandola’s infrastructure is its on-chain nodes, which are improved with geolocation awareness to provide unmatched uptime.
Reliable, Elite Performance: For reliable and exceptional performance, DEXs can rely on Kandola regardless of transaction volume or user base size.
Imagine a spike in trade activity brought on by a significant announcement on cryptocurrencies. With millions of users wishing to trade on a DEX platform at the same time, Kandola’s strong availability together with Geo Location-aware nodes ensure that even in situations of high demand, the platform stays responsive and performs at its best for users worldwide.
