New Etherscan features highlight the DEX with the best crypto prices
Etherscan launches a DEX transaction tracker, DEX order book tracker and more.
Much of the attention around cryptocurrency innovations has focused on the decentralized nature of the blockchain – no single centralized authority has control over it. Yet much of the global cryptocurrency trading is done through centralized exchanges that pose risks of theft and hacking.
While decentralized exchanges (DEXs) exist – and are becoming increasingly popular – they’ve struggled from a lack of adoption and, therefore, a lack of liquidity.
New tools recently launched by Etherscan, however, aim to help overcome that barrier by drawing attention to the latest developments in the DEX space, at least in relation to the Ethereum blockchain.
Three of Etherscan’s four new tools assist in the discovery of the latest prices for a number of ERC20 tokens like EOS, TRX, VEN, BNB, ICX, OMG, ZRX and REP.
Its DEX tracker records all the latest blockchain transactions, noting the tokens on both sides of the exchange as well as the DEX and maker/taker fee, while its DEX order books listing records up-to-the-minute order submissions with a link to the associated DEX so you can act on the order. As part of its resources page, Etherscan also provides a directory of all Ethereum-based DEXs, including Airswap, Bancor Network, DDEX, Kyber Network, Paradex and Radar Relay.
The third tool is an Ethereum gas tracker so you’ll know about how much the network fee for your transaction will amount to, and the fourth is a search tool for Swarm, Ethereum’s decentralized storage protocol.
The release of the suite of tools even garnered a mention by Ethereum Co-Founder Vitalik Buterin on Twitter:
Wow, @etherscan has a lot of really cool new tools lately:
Glad to see ethereum growing such a robust DEX ecosystem!
— Vitalik “Not giving away ETH” Buterin (@VitalikButerin) May 19, 2018
The functionality of Etherscan’s DEX order book tracker resembles how CoinSwitch aggregates current coin prices on numerous centralized exchanges, though trading fees may apply with some of the exchanges that CoinSwitch works with.
ShapeShift is a private broker that facilitates crypto-to-crypto exchanges, though ShapeShift makes money on the spread between ask and bid prices.
For a more in-depth description of how decentralized exchanges work, along with reviews of some of the leading DEXs, check out our new guide.
Disclosure: At the time of writing, the author holds XRP, CND, ANT, DRGN, EOS, NEO, ADA, AION, GTO, SALT, QTUM, WAX, BTC and ETH.
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