Blockchain is certainly another disruptive product of the digital economy. Today, the technology is generating intense interest as it can be utilized in a plethora of industries such as banking, finance, insurance, healthcare, government and professional services. As we all know in the finance sector the use of Blockchain technology is booming. It has been innovative by allowing anyone to own and transfer assets across an open financial network without the need for a reliable third party.
There are hundreds of blockchain based assets in the market, and more being added month by month, the need to exchange these assets is compounding. With the beginning of smart contracts it is possible for two or more parties to exchange blockchain assets without the need of a third party. Decentralised exchange is an important development within this ecosystem as it has stronger security agreements to end users having no middle men involved. There’s numerous decentralised applications that have made Ethereum smart contracts for Decentralized exchange.
Introducing CreditChain Protocol
Creditchain Protocol depends on open protocol for decentralized exchange based on Ethereum blockchain. The Creditchain protocol intends to fill in as a fundamental structure of blocks that may get together with different protocols to drive progressively refined dApp. The smart contract utilized by Creditchain Protocol depends on openly accessible or reachable frameworks that go about as a shared infrastructure for different dApps.
DApps that are built on Creditchain Protocol have to power join liquidity pools or they can even create their own liquidity pools. Charges of transaction fees depending upon the subsequent volume.
The governance of Creditchain Protocol is unbiased or neutral as it doesn’t force extra charges on its users or utilize an exchange framework to benefit one pool of users by extracting value from another.
In the Creditchain Protocol, data source is the most significant unit that describes the process of extracting raw data from primary source and also the fees for each data query. Anyone can register a data source on Creditchain Protocol.
Aiming the fast settlement, Creditchain Protocol is fundamentally a network protocol used to enable signalling between buyer and seller.