The frequent hacking of centralized exchanges has caused serious concerns in the market. Therefore, DEX has gradually become the first choice of users, especially in the last year, DEX was very popular and many users have injected funds into the DEX field. However, some users have raised doubts, how DEX solves the user’s asset security problem? NGKEX, as an emerging DEX platform, its security has always been the main concern of most ecological builders. Today, we will explain to you from the following three points, how does NGKEX solve the user’s digital asset security problem?
1. Atomic transaction
Atomic transaction refers to the realization of cross-chain transactions between two coins without the need to trust a third party.
What does this mean? In the past, if users wanted to achieve transactions between two currencies, such as XPR and BTC, they either relying on centralized exchanges or acquaintances. Regardless, it will always be an intermediary and cannot be completely trusted. This is because even acquaintances may deceive, and the centralized exchanges may fail. While atomic transactions can make every currency trading no longer need to trust any third party but trust the decentralized system instead. For example, if you want to trade XPR and BTC, you only need to log in to the NGKEX, then select the currency trading, click XPR/BTC, and select “Limit Order”, “Market Order” or “Planning Commission”.
2. Risk-free token exchange network
NGKEX adopts the NO-LOCALCOIN exchange network, as well as cross-smart contract and cross-chain gateway technology. Users can realize risk-free exchange transactions between tokens through NGKEX, avoiding the risk of default when participating in the transaction.
Compared with a centralized exchange platform, the NGKEX’s smart contract avoids the default subjective risk by the platform party, or the property loss to users caused by attacks due to objective factors. Even for tokens issued by new projects, if the NGKEX platform supports it, the risk-free exchange transactions can be carried out through the platform. There are various mainstream digital asset exchange transactions on the NGKEX, and various digital assets can be freely exchanged.
3. Hot and cold hardware wallets
NGKEX has both hot and cold wallets, and users can choose to use a cold wallet or a hot wallet according to their assets. However, regardless of whether it is a cold wallet or a hot wallet, the NGKEX adopts advanced technology to ensure the security of users’ digital wallets.
Under the protection of hot wallets, NGKEX has improved the traditional operating system, the interaction protocol with the outside world, and the server. Even if the user has a small amount of funds deposited in the hot wallet, there is no need to worry about hacker attacks.
In terms of cold wallet protection, in addition to using private keys, the NGKEX also stores transaction data in the cold wallets, which cannot be accessed by the network. They are immune to hacker attacks and Trojan horses, avoiding the situation such as losing or stolen coins.
These are the core functions of the NGKEX. It always guarantees the security of users’ digital assets. In the future, the NGKEX will still adhere to the primary principle of user digital asset security, strengthen technical construction, improve security performance, and protect the users’ digital assets.