FTX launches a decentralized crypto exchange built on the Solana blockchain

By Izak Masonto

FTX a crypto exchange is launching a Decentralized Exchange (DEX) but it won’t be based on Ethereum like many other markets

The Serum DEX is built on the Solana blockchain,Wich is claimed by it’s designers and developers to be the fastest and cheaper compared to Ethereum Wich is proudly a home to the majority of Decentralized finance (DeFi) applications

Solana is a layer 1 network and claimed to scale to nearly 56000 transactions per second whereby Ethereum current capacity is scaled at 15 transactions per second as for cost Solana blockchain says it can processes a transactions at an average of $0.01 as compared to Ethereum of average fee of $1.60 per transaction.

According to FTX CEO Sam Bankman- Fried Says Solana is awesome it is 10000 faster and 1000000 cheaper than Ethereum. The Solana based DEX have a speed,cost and user experience (UX) of centralized exchange while being trustless and non custodial said Bankman-Fried, who estimated the target launch is probably next week or two. FTX has today added Solana sol token.

Anatoly Yakovenko ,the creator of Solana and president of Solana foundation said that Serum is the first full featured, decentralized exchange built on Solana and it is built to compete with centralized exchanges from day one.

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