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WazirX to launch decentralised exchange next month
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WazirX cofounder Nischal Shetty
India’s largest cryptocurrency exchange by volume, WazirX, is on an advanced stage to launch a decentralised exchange of its own, cofounder Nischal Shetty said.
Unlike a centralised setup, where an exchange is the custodian of a customer’s cryptocurrency and controls who can or cannot open an account on it, a decentralised exchange operates without an intermediary organisation for clearing transactions. The trades are executed on self-executing smart contracts.
It is like building software where peer-to-peer crypto trades can be facilitated, Shetty told ET.
The decentralised exchange is currently undergoing tests and will be launched next month.
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New Delhi, India– This is an ongoing drama worthy of a Bollywood movie.
In February of this year, Twitter deleted hundreds of accounts. These accounts were posted in ongoing farmers’ protests against the three agricultural laws passed in India last year, but some of them were restored after massive public opposition.
Twitter stated that these accounts have been closed to comply with the order of the Indian government. But this is only the beginning of tensions between the US social media giants and the Indian government this year.
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