It is undeniable: the enthusiasm around Blockchain is growing every day and more and more people are interested in the technology that will lead to more social and commercial disruption in the coming years and that is one of the decentralized exchange protocols (DEX) The best known in the blockchain world is Uniswap, and it is no wonder, because this protocol has become one of the largest DEXs in the crypto ecosystem, with a blocked value that amounts to 5 billion dollars.
Uniswap is a DEX that allows you to exchange your cryptocurrencies for others, using smart contracts on the Ethereum network. This fact already tells us one thing: Uniswap works with Ethereum ERC-20 tokens. Let us remember that an ERC-20 token is a type of standard token within Ethereum and of these types of tokens there is a great variety. In fact, there are currently more than 420,000 different ERC-20 tokens on Ethereum, which gives us an idea of the huge ecosystem that exists. It is precisely this point that led Uniswap to its immense success.
The function of this protocol is very basic: verify and store transactions in a decentralized way in a ledger called Blockchain. The idea behind is simple, like that of the Internet (a data transmission network from point A to point B). This allows your applications to go beyond a specific industry or function. Its uses are practically unlimited, in fact, I am convinced that the majority of use cases have not yet been released; very striking news for entrepreneurs looking for highly scalable and disruptive business opportunities.
At present, we find the third version of Uniswap active. That is, the Uniswap V3 protocol is its most current version, since Uniswap V2 is still available (although it is legacy, and migration is being promoted), and V1 is the initial version that is no longer developed and of which its use is discouraged for obvious reasons.
Also check:
LUNA (Terra) – A cryptocurrency from another planet
Monero untraceable cryptocurrency
