What is the need for Blockchain in crypto exchanges?

Blockchain technology was introduced in 1991 and the first-ever by-product of Blockchain technology was Bitcoin. Now, this Blockchain technology is incorporated in all the primary sectors from education to health care. Crypto Experts predict blockchain will hold 20% of economic infrastructure by 2030. 

In the initial stage of the crypto exchange, people hesitated to trust. After that, the acceptance and interest in Digital assets went up. Now in 2020, Cryptocurrency exchanges are one of the top revenue-generating business models. Let’s see the need for Blockchain in crypto exchanges.

Need for Blockchain in crypto exchanges

Brand recognition

By developing a separate blockchain, crypto exchanges can create their own native coin or token that will bring brand identification.

Builds Traders Trust

Traders' trust rate for your crypto exchange will increase with your own blockchain. So you get more user engagement on your crypto exchange.

Privacy level Fixation

If you have a blockchain in your crypto exchange, you need to choose the privacy level of transactions.

Enhances Market Share

The Market Share value will significantly increase by your own Blockchain.

Faster Transaction

Fast transactions will occur on your crypto exchange through the Blockchain network. So everything is automated from trade matching to payment verification.

Flexibility

Lets traders trade with more flexibility in your Blockchain-based crypto exchange platform.

Efficiency

By developing your own blockchain, the crypto exchange efficiency is significantly improved and positions itself in the crypto market.

Cost Reduction

Smart Contract automates each and every process. So there is no need for any additional services, thus it is a kind of cost-cutter.

Cryptocurrency Exchanges with their own Blockchain

Existing several popular Cryptocurrency Exchanges such as Binance, Huobi, and OKEx have their own blockchain network.

The above statements clearly show the importance of blockchain in developing crypto exchanges.

Now if you are interested in developing a Blockchain-based cryptocurrency exchange platform, then you may approach the best development firm in the crypto market. Nowadays a lot of companies are available in the market. Among them, one of the companies is "Zab technologies". They are a leading crypto exchange software development company in the crypto market and they develop crypto exchange platforms with solidly experienced blockchain developers. So you can develop your crypto exchange with the finest quality at an affordable cost.

Also, talk to their experts directly via,

Whatsapp: +91 77085 29089

Mail: contact@zabtechnologies.net