Decentralized exchanges, also known as DAXs, are a hot topic for the simple reason that all cryptocurrencies need to be exchanged by others to give them some kind of utility. Could you imagine a world where you couldn't trade Bitcoin for dollars? Or Ethereum for Bitcoin? It would destroy the real-world utility of most cryptocurrencies. That's why we have exchanges, to allow the trading of all kinds of currencies in a free market. We'll start by working on an explanation about DAXs so that you understand the idea behind them. Then you'll understand how the orders are made and how to manage user funds in a secure manner. After that, you'll create a real-world DAX with a complex smart contract and a detailed interface.
In this chapter, we'll cover the following topics:
- Introducing decentralized exchanges
- Understanding...
