uniswap

Let’s learn about Uniswap, a popular  decentralized exchange running on Ethereum..Uniswap enables people to trade  tokens without any intermediary.

About UniSwap

Users maintain control of their funds at all times.Uniswap is open source, .which means anyone can copy the code to create their own decentralized exchanges.

It even allows users to list tokens on the exchange for free.

.Uniswap started out as an idea proposed in 2016 by Vitalik Buterin for a decentralized  .exchange that would employ an  on-chain automated market maker.

 

.and he began working on turning  the idea into a functional product.

What is UniSwap?

Uni launched in November 2018, .and the protocol quickly gained liquidity and started facilitating meaningful volume..Built on Ethereum,

UniSwap utilizes an Automated Market Maker rather than a traditional order-book..

Instead of matching individual buy and sell orders,

users can pool other..That’s a really elegant way to put it.

.Smart Contracts are critical for Uniswap’s operations..

Smart contracts are automated computer programs .that perform specific functions when certain conditions are met

..Unis runs on two smart contracts:.an ‘Exchange’ contract and a ‘Factory’ contract..In this instance,

the factory smart contract is used to add new tokens to the platform,  .and the exchange contract  facilitates all token swaps..Any ERC20 token can be swapped with another.

.Users must have an Ethereum wallet such as MetaMask  .which contains some Ether in it,  so you can pay transaction fees. UniSwap became very popular, and other exchanges popped up using its code..It’s not all unicorns and rainbows, though. Ethereum gas fees can get high

, so be careful when using Uni for small, frequent trades..You’re watching the video channel of MarketSquare,

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What is UniSwap?…

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