Greetings to all the readers of this great platform, especially to the readers of the great community of #ProjectHOPE, in the present opportunity I want to give continuity to the topics related to the DeFi decentralized economy systems, a few days ago I told you about the description of the DeFi systems and their components, in the present opportunity I want to share with you about the types of decentralized Eschangues.
Screenshot taken at: PixaBay
The decentralized Exchange, are known as the digital platforms that are referred to the decentralized economy, being this a free economy and with the use of smart contracts, this for the fulfillment of each of the transactions that are made in each of these platforms, which are traditionally known as DeFi platform, in addition these have different types of Exchange which have different characteristics.
First generation Exchange:
Although the platforms of the decentralized Eschangues, have been a little new in terms of the time that these have in the blockchain platforms, there are different versions of these Exchange, which is why they divided it by generations, as for the first of them, in which the investment made is part of a centralized economy, so it is risky to lose control of our money in this type of investment, hoping that the platform does not disappear, and these are known as first generation.
Second generation Exchange:
Continuing with the generations of Exchanges, we find the second generation Exchanges, it is in this generation so to speak, where the application of smart contracts for operations began, this with the purpose of being able to perform of automating the exchanges, as well as to perform it without third party intervention, already being a decentralized economy, you are not going to be able to dispose of these invested resources for a time, until the smart contract that was established is fulfilled.
Third generation Exchange:
This is considered as the most updated version of the Exchange generation, it is here where the decentralized Exchange are considered, since your resources are not sent to any platform, since we always have them at the moment we want to have them, and like the second generation, we have the use of smart contracts to carry out operations, and having these tokens immediately available, we can exchange at appropriate times of the market, or access to some type of exchange through the different platforms.
After being able to understand a little better about Exchange generations, I invite you to check a DeFi project, which you can understand a little better about it, also sponsored by our friend @xpilar, here I share the link of the project: https://woxdefi.app/.