{"id":1137,"date":"2021-07-15T12:04:52","date_gmt":"2021-07-15T12:04:52","guid":{"rendered":"https:\/\/deficoins.io\/?page_id=1137"},"modified":"2021-07-15T12:04:52","modified_gmt":"2021-07-15T12:04:52","slug":"serum-review","status":"publish","type":"page","link":"https:\/\/deficoins.io\/review\/serum","title":{"rendered":"Serum Review: Your Must Read Guide Before Investing In SRM Tokens"},"content":{"rendered":"
The Cryptocurrency market has seen a major adjustment from Decentralized finance (Defi) over the years. This new development has attracted both retail traders and institutional investors as traditional finance embraces blockchain technology.<\/p>\n
The majority of the renowned Defi protocols with a reasonable amount of locked value and volume operate on the Ethereum blockchain. And their high transaction fees and lower transaction time gave room for the birth of a project like Serum.<\/p>\n
The serum is a permissionless (DEX) decentralized exchange that runs on the \u2018Solana blockchain.’ It is a network that offers high speed and low transaction fees to eliminate vulnerabilities seen in the Defi space.<\/p>\n
This resulted from incomplete decentralization. The serum also allows its token owners to stake their tokens and earn a yield from trading fees.<\/p>\n
Also, the Serum token has a \u2018buy-and-burn\u2019 mechanism that helps to reduce its circulating supply further and increase the value. More on this Defi<\/a> protocol will be seen in this serum review.<\/p>\n The review says a lot about the protocol\u2019s token, the founding team, where to buy the SRM token, and lots more. It is a golden treasure for investors, intending investors, and individuals who want to know more about Serum.<\/p>\n Contents<\/p> The serum aims to eliminate most of the vulnerabilities currently found in the Defi space caused by incomplete decentralization.<\/p>\n It is a permissionless decentralized exchange and introduces low transaction fees and high speed to the Defi. Moreover, it can operate with other cryptos like Ethereum and Bitcoin.<\/p>\n It claims to be \u2018fully decentralized\u2019 and operates on a \u2018non-custodial exchange with trading support known as cross-chain. It is not built on the Ethereum blockchain but instead on the Solana blockchain and doesn\u2019t require KYC (know your customer).<\/p>\n Serum adopts an order book-based crypto trade like the centralized crypto exchanges. This feature differentiates it from other DEXs.<\/p>\n Solana is a \u2018web-scale blockchain that achieves 50,000 transactions in a second through SHA 265 hash chain. SHA 265 hash chain is a verifiable delay function that allows the control of optimistic concurrency. There are more than 18 DEXs in existence. The Serum DEX is available on iOS and android through the Coin98 mobile App.<\/p>\n The Serum Foundation built Serum. The foundation comprises experts in decentralized finance and cryptocurrency trading.<\/p>\n The protocol is the first of its kind to be built on Solana and is present in 30 crypto markets. The serum trades against USDC or USDT in these markets.<\/p>\n Sam Bankman-Fried co-founded Serum. \u00a0Bankman-Fried is a graduate of physics from the Massachusetts Institute of Technology with a bachelor\u2019s degree. He has more than three years of FTX trading experience with Jane street capital. Jane street capital is a well-known wall street trading firm.<\/p>\n Sam Bankman left Jane street in 2017 to discover a quantitative trading firm-the Alameda Research, shortly afterward. He founded the FTX crypto derivatives exchange in 2019. Based on his DEX experience, he was regarded as the \u2018de facto\u2019 community leader of the popular SushiSwap DEX.<\/p>\n Sam and other FTX exchange team members were brainstorming on the Defi protocol to develop. They concluded on building a DEX but not on Ethereum because of the unique features they want it to have. However, they later chose to build it on Solana due to its efficiency after analyzing other blockchains.<\/p>\n The team wants their project to be an outstanding platform different from other FTX exchanges. They later gave the DEX a name-Serum after about three months of hard work. They released the project\u2019s white paper in July 2020 and launched the DEX towards the end of August.<\/p>\n The Serum project is still a developing project. It is more likely that new features will be added to the ones existing in the project currently. 3 mechanisms explain how the project Serum works, namely;<\/p>\nWhat is Serum (SRM)?<\/span><\/h2>\n
The History of Serum (SRM)<\/span><\/h2>\n
How Does Serum Work?<\/span><\/h2>\n