Komodo (KMD) Barter Dex Achieves More than 100,000 Atomic Swaps
The decentralized exchange is still in its infancy, but has achieved one of the most encouraging feats of moving between blockchains without the aid of an exchange.
The Komodo Barter DEX decentralized exchange, which achieves its coin deals in the form of atomic swaps, or movements between blockchains, has crossed a threshold of a total of 100,000 live atomic swaps. While the number may be low compared to the millions of trades on traditional exchanges, Barter DEX is seen as one possible future for the blockchain space.
Atomic swaps achieve an exchange between two blockchains without the need for an intermediary. For a lot of crypto coins, atomic swaps are still in the testing stage.
The Komodo ecosystem is promising, but still obscure and hard to use, as newcomers in crypto may find the decentralized exchange confusing. The Komodo decentralized service is available in its newest version through GitHub, offering new digital assets:
The Barter DEX market may be compared to the Stellar DEX, which lists a limited collection of digital assets, mostly related to the Stellar project. At one point, Stellar DEX volumes reached above $1 million, but have fallen to around 21 BTC, or the equivalent of $250,000. EtherDelta, the Ethereum decentralized exchange, has a trading volume of $1.4 million in a day.
Despite the dominance of large exchanges like Binance, work is being done to achieve decentralized marketplaces, which would be crypto-only exchanges.
Despite the Barter DEX successful launch, KMD remains a digital asset with a rather depressed price. KMD hovers around $3.42, after sinking around 16% in the past week. The asset reached a peak around $12, as a greater price climb was expected, but soon sank again to its usual price range.
The Komodo project is unique for being an open-source, decentralized organization with a working product.