Let's get started with the ultimate whitepaper aka Brine's docupaper.
Trading on decentralised exchanges (DEXs) has become increasingly popular in the cryptocurrency industry. Unlike centralised exchanges, which require users to deposit their assets into a central wallet, DEXs allow users to maintain control over their assets at all times. Trades are executed peer-to-peer on a blockchain network, which provides a level of security and transparency that is not possible with centralised exchanges.
Decentralised exchanges, or DEXs, are a relatively new concept in the cryptocurrency industry. Traditional centralised exchanges, such as Coinbase or Binance, have dominated the market for years. However, the rise of decentralised technologies has brought about a new era of trading that puts power back into the hands of the users.
DEXs operate in a decentralised manner, meaning that there is no central authority or intermediary involved in the trading process.
One of the main benefits of using a DEX is that they are censorship-resistant. This means that anyone with an internet connection can participate in trading, regardless of their geographic location or identity. This opens up trading opportunities to people who may not have had access to traditional financial institutions in the past.
Overall, DEXs are a promising development in the cryptocurrency industry that offer greater transparency, security, and accessibility to users.
While trading on DEXs has many benefits, there are also challenges that traders must navigate. One of the main challenges is liquidity, as DEXs typically have lower trading volumes than centralised exchanges. This can make it difficult to execute trades quickly, especially for traders who are looking to buy or sell large amounts of assets. Additionally, DEXs can be more difficult to use than centralised exchanges, which may discourage some traders from using them.
Below we have illustrated the challenges most commonly faced by DEXs.
- Low Liquidity: Since decentralised exchanges rely solely on user-generated liquidity, they often have lower liquidity levels compared to centralised exchanges. This means that users may not be able to find enough buyers or sellers for certain trading pairs, which can result in a lack of trading activity.
- Limited Trading Pairs: Due to liquidity constraints, decentralised exchanges may not support as many trading pairs. This limits the ability of users to trade in various cryptocurrencies and can lead to difficulties in asset management.
- High Gas Fees: Transactions on a DEX often require high gas fees due to their reliance on the Ethereum network. This can make trading costly for users, especially for smaller trades.
- Time Constraints: The trading process could take longer on a DEX, which will discourage users from continued usage.
- User Experience: It can be more difficult to use and navigate decentralised trading platforms. Additionally, they lack some of the advanced features and functionality provided by centralised exchanges, making them less appealing to professional traders.
Despite the challenges, trading on DEXs is a promising development in the cryptocurrency industry that offers greater transparency, security, and accessibility to users. As technology continues to evolve, traders will need to adapt to new market conditions and find ways to overcome the challenges of trading on decentralised platforms. With the potential benefits of DEXs, many traders are optimistic about the future of decentralised trading in the cryptocurrency industry.
The world of cryptocurrency trading has various possibilities and promising opportunities, but it has its fair share of drawbacks as well. Steep gas fees, off-putting trading fees, inferior speed, and the absence of an orderbook are all reasons that discourage users from getting into trading.
Moreover, many traders prefer centralized exchanges (CEX) because they offer lower gas fees than their decentralized counterparts (DEX). However, this economical advantage comes at a cost - the security of crypto assets is not guaranteed on a centralized network and could easily be compromised.
Brine, the world pioneer in Cross-chain Orderbook DEX, aims to pave the way to a superior trading experience, combining the best qualities of CEX and DEX. Brine makes use of unparalleled technologies such as Zero Knowledge Proofs and STARK Proofs so that you can DEX it right!
Brine can handle the influx of a sizeable number of transactions at the same time.
With Brine, you earn privacy on all your trades. As most CEX are order-book based, switching to Brine is easier than switching to AMM DEX. Brine also comes with various order types like Limit, Stop-Limit, Trailing-Stop-Limit & OCO. Being an Order-book DEX makes it optimal for surfacing market prices and placing large orders.
Say Goodbye to gas fees, trade instantly without paying any gas fee for your trades. You only pay a trading fee of 0.1% or less depending upon your trading tier.
Our easy-to-use ready to plug APIs make it easy to build your own trust-less wallets, DEXs, payment gateways and more.
With Brine, we seek to make the right way to trade crypto assets accessible to all. No matter where you are from or what your background is, you can execute gasless trades on Brine in an instant. Being built by young DeFi enthusiasts, Brine provides plug and play APIs, so budding developers can build their visions on top with ease. Brine values the pillar of anonymity the same as the pillar of decentralisation and therefore provides complete privacy for all your trades. Along with Brinerds, our community, we wish to provide accessible, inexpensive and reliable trading for all.
Brine boasts multiple innovative features which sets it apart from its industry rivals. Here’s a rundown of the more prominent ones.
Keep your crypto assets secure with a DEX with unprecedented features and high-end privacy on all trades.
Enjoy instantaneous trading with Brine’s high-speed matching engine so that you don't need to wait for your trades to be executed.
Track the market and trade across multiple networks from a single dashboard.
On Brine, you only pay 0.04% (or less) depending on your trading tier.
Your trading history stays hidden from everyone except you thanks to ZKP.
A zero-knowledge proof or protocol (or ZKP) is a process by which one party (the prover) can prove to another party (the verifier) that a given statement is true without providing any other information that pertains to the statement. It's the trust fall equivalent of the cryptocurrency market and allows proof to be carried out while keeping the prover’s identity confidential.
Zero-knowledge proofs have their share of merits and demerits; let’s take a look at both sides of the coin. To start off, ZKPs are simple in nature, without any requirement for complex encryption modes. It is also secure, as the predominant trait of this protocol is to do away with unnecessary sharing of information. Shorter transaction chains are yet another plus point of ZKPs, allowing users to forget about information storage related to various types of assets.
However, these proofs have their downsides as well, being that they are often long-winded and time-consuming as a process. Moreover, transaction messages could be modified - leading to imperfections - or even completely erased.
Brine has an integrated tech stack that allows users to maintain confidentiality through its dual off-chain and on-chain components. The former stores wallet data and an inventory of orders creates batches for transactions and sends state updates to the L2 scalability engines. The latter holds state commitments and system assets, manages on-chain accounts and is also responsible for enforcing the validity of state transitions.
Constant innovation and consistent upgrades are the stepping stones to success, and we emulate those values at Brine. Here are some of the ideas we wish to work upon along in collaboration with our community whom we call Brinerds.
Use your Brine wallet to pay anyone directly with cryptocurrencies, instantly and with zero gas fees.
Stay updated on DeFi liquidations, trades, lending and borrowing markets, and whale movements in real time through our minimalistic yet diversified dashboard.
Conduct easy fund transfer between EVM chains and various L2s on the market with the help of our advanced APIs.
Brine lets you trade without having to compromise on speed, economy, experience or liquidity. Our app gives you the best mode of crypto trading with attributes like you’ve never seen before.
Focus on trading - Brine will manage the rest for you!