ADAX is a protocol that enables the facilitation of trades between any two parties in the Cardano ecosystem. The protocol has been designed with the primary aim of enabling frictionless, trust-free and speedy trades between all parties in the Cardano ecosystem. It is an open-source, decentralised cryptocurrency exchange protocol built on the top of the Cardano blockchain. This project aims to create a platform where users can trade almost any type of digital asset with near-zero transaction fees and no counter-party risk.
How Does It Work?
How ADAX works is simple: When a user wants to trade on the ADAX Exchange, they will first need to deposit some form of cryptocurrency into their ADAX Wallet. The user will then need to have some form of fiat currency (such as USD, EUR or any other fiat currency) ready to be converted into ADAX on the ADAX Wallet. After this, the user will go to the ADAX Exchange and select the digital asset they want to buy or sell. The Exchange will then search for a suitable counterparty to fulfil the order.
If successful, the Exchange will display an “I Have Your Asset” message to the user. At this point, the user can choose to complete the trade himself by sending his ADAX to the seller’s wallet or vice versa. Once the user has confirmed the trade, the funds will be transferred immediately, and the seller will receive the funds in their wallet.
How Does ADAX Compare To Other Exchanges?
First and foremost, unlike other exchanges, there is no need for users to deposit any cryptocurrency whatsoever to use the ADAX Exchange. This means that there is no need for them to purchase any digital assets with their fiat currency. This also means that there is no need for them to have any kind of merchant account whatsoever. This is a significant advantage because it makes ADAX very suitable for users who do not want to deal with intermediaries or banks. Also, users do not have to wait for confirmations from the blockchain when completing a trade. This means that trades are completed in a fraction of their time on other blockchains such as Bitcoin.
Another big difference between ADAX and other exchanges is that ADAX does not charge any kind of listing fees. This is a significant advantage over most other exchanges, which usually charge anywhere from.05 to.10 per transaction. Another big difference is that there are no transaction fees whatsoever when using the ADAX Exchange. This makes it possible for users to send and receive large amounts of cryptocurrency without worrying about paying any kind of fee.