Thursday, March 28

How to Use UniSwap: A Step-by-Step Beginner’s Guide By Cointelegraph


©Reuters. How to use UniSwap: A step-by-step beginner’s guide

The decentralized exchange (DEX) is the most popular DEX built on top of the . For users wondering “What is Uniswap?”, this article provides an overview of what it is and how it works, as well as several ways users can get started with the Uniswap DEX.

With Uniswap, users can trade cryptocurrency tokens without having to rely on a middleman. The fact of not having to depend on a third party means that only economic rents are collected. Instead, Uniswap relies on smart contracts to execute trades. Smart contracts are algorithms that auto-execute once certain pre-set conditions are met.

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How does Uniwap work? Since Uniswap is an open source protocol, many DEXes have been released with the suffix “swap”. These protocols are essentially copies of the original Uniswap source code. Where they differ is in the graphical user interface (GUI), as well as in the differentiation of the offer and positioning.

Read the full article on Cointelegraph

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