The cryptocurrency industry is in a state of incredible growth. From Bitcoin monopolizing the industry to newly-developed digital tokens and decentralized exchanges, there’s never been a more exciting time to be in the market.
Kraken is one of the newcomers on the scene, offering a unique take on the decentralized exchange model. The project is backed by a number of well-known investors, including former PayPal executive and early Bitcoiner Roger Ver, as well as big players like Digital Currency Group. But what sets Kraken apart from its competitors?
Kraken’s main selling point is its unique consensus-based matching engine. By utilizing this mechanism for matching orders, Kraken is able to provide users with a faster execution time than other decentralized exchanges. It’s also important to note that, much like existing centralized exchanges, Kraken is open to anyone and allows users to trade nearly all of the major cryptocurrencies, as well as various lesser-known tokens.
Another major benefit of Kraken is its use of a so-called “liquidity reserve.” This reserve ensures that traders can always get the best possible prices on all of the trades they conduct. In a nutshell, it’s the perfect way to ensure that the price spreads between different types of trades are kept at a minimum.
Finally, Kraken’s decentralized exchange operates on a model of complete anonymity. This means that users are never exposed to the public-facing details of their trades, which is one of the biggest fears that investors have when it comes to decentralized exchanges.
The cryptocurrency landscape is changing rapidly and the industry is becoming increasingly competitive. With its unique features and advanced security measures, Kraken appears to be leading the way with its take on the decentralized crypto exchange. As more investors enter the crypto space and start looking for reliable, secure services, it seems Kraken could be the go-to choice for those seeking a safe and easy-to-use decentralized exchange.
