Blockchain protocol Komodo has launched AtomicDEX Web – a wallet, cross-chain bridge and decentralized exchange (DEX).
Unlike centralized exchanges (CEXs), a DEX relies on smart contracts and liquidity pools to allow its users to trade cryptocurrencies without permission.
Komodo’s three-in-one product is said to be accessible via any internet browser and connect to over 60 blockchains, including Ethereum, Polygon, Avalanche, BNB Chain and Cosmos.
“Most internet users spend all day opening and closing new tabs, so the wallet and crypto experience should be integrated into the way we already use the internet, rather than asking users to buy browser extensions or additional ones Download software to access their funds,” said Komodo Chief Technology Officer Kadan Stadelmann. “Crypto should be as easy as opening a new tab from any device and operating system, while being your own manager of your funds.”
The launch of this DEX comes at a shaky time for the crypto ecosystem, which is still reeling from the collapse of centralized exchange FTX. Stadelmann told CoinDesk that he believes the demise of the FTX exchange has highlighted the need for DEXs, which give users the ability to control their own funds without intermediaries. “Why would you want to give someone control of your crypto?” he said. “If you want to trade, you can do it in a peer-to-peer decentralized and cryptographic way in a trustless way.”
The goal of AtomicDEX Web is to eventually integrate with any electronic device, so any future technology could be used for wallet storage and trading.
In March, Komodo launched ShibaDEX, which allows its users to exchange Shiba Inu tokens (SHIB) for other cryptos.
Read more: Komodo’s “ShibaDEX” allows users to exchange Shiba Inu for tokens on other chains
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