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Pacakeswap: Case Study in the success of a decentralized exchange (Dex)

In the world of crypto -valute decentralized exchange (Dexs), they have appeared as a revolutionary platform for trading digital property. Among them is Pacakeswap, one of the most popular and popular Dexa on the market today. In this article, we will enter the Pacakeswap world, exploring its unique features, how he has achieved success and what lessons can be learned from his journey.

What is a pancake?

Pacakeswap is a decentralized exchange built on a smart binance chain (BSC) using Ethereum Virtual Machine (EVM). It launched it in May 2018. A group of developers led by Arthur “Gobig” Thomas, who aimed to create a more useful and efficient Dex. Pacakeswap quickly gained popularity because of its simplicity, low fee and a huge series of trade couples.

How does a pancake work?

Pacakeswap acts on the algorithm of the evidence consensus (POS), which is different from the algorithm of the evidentiary operation (POW), which uses traditional cryptocurrency exchange. This means that users do not need to invest in mining equipment or deal with high energy consumption.

Here is a simplified examination as Pacakeswap works:

• Users are laid in the pancake pool their cryptocurrencies.

• The pool is divided among the validators responsible for confirming the transactions and maintenance of the integrity of the network.

• Validators compete to earn 20% of total awards by solving complex mathematical problems.

Why was Pacakeswap successful?

Pacakeswap has achieved exceptional success due to several factors:

• Low fees

  

  : Pacakeswap fees are significantly lower than those in traditional cryptocurrency exchanges, making it an attractive option for users who want to trade without Bank breakup.

• A wide range of trade couples

  : Pacakeswap offers a huge series of trade couples, including popular property such as ETH/USDT and USDC/BTC. This makes it easier for users to find a couple to trade.

• Easy boarding process : Pacakeswap has a user interface that makes it easier for new users to start trading. The boarding process is fast and simple, allowing users to lay their crypto currencies and immediately start trading.

• Community Support : Pacakeswap has an active community of users who contribute to platforms through different means, including the creation of guides, answering questions and participating in discussions.

Case Study: How Pacakeswap achieved success

To understand how Pacakeswap has achieved success, let’s examine a few key turning points:

• Early Adoption : Pacakeswap has gained early adoption status due to low fees, wide range of trade couples and simple boarding procedures. Early adopters were encouraged by the early advantages of the platform.

• Partnerships with the main exchange : Pacakeswap united in 2019 with prominent platforms for the exchange of cryptocurrencies such as Binance and Kraken. These partnerships have helped increase the visibility and credibility of the platform.

• Continuous innovation : Pacakeswap continued to innovate and improve his platform over time, adding new features and improveing ​​existing ones. This includes updates of the POS consensus algorithm and improvement of the user interface.

Lessons from Pacakeswap

The success of Pacakeswap offers several lessons for developers and lovers of cryptocurrencies:

• focusing on user experience : Focus Pacakeswap on user experience was key to his success. The platform provides a nocean and intuitive interface that makes it easier for users to trade.

• Diversify your revenue flows : Pacakeswap generates proceeds through transaction fees, which is a more stable and predictable source of revenue compared to traditional cryptocurrency exchanges.

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