Mushe (XMU) and Constellation Network have announced a partnership that is set to revolutionize the decentralized exchanges (DEX) market. The collaboration is a positive shift for investors in cryptocurrency as it brings a new level of security, overcomes network congestion, reduces transaction fees and offers cross-chain interoperability. It is a game-changer that could well render today’s DEX platforms obsolete.
Peer-to-peer decentralized exchanges are booming, driving huge changes in global financial institutions and making the world of crypto more accessible. They manage huge volumes of transactions with no third-party involvement, reducing the risk of hacking and promising anonymity. Residents of African nations are grabbing the chance to use DEXs to protect remittances and cross-border enterprises from high transfer costs and currency depreciation. Reports show that between June 2020 and June 2021, decentralised exchanges across the globe enabled up to $600 billion in trade volume. According to a 2021 report by Chainalysis named Global Crypto adoption Index, Kenya ranks as the top country out of 154 countries surveyed in peer to peer exchange trade.
But while blockchain-based DEXs promise safer and more transparent trading, they also have their shortcomings. The likes of Uniswap and its close contender PancakeSwap are built on one blockchain, which doesn’t allow for exchange between crypto and fiat (legal tender) without a compulsory visit to the central exchange. They can also be complicated, suffer from scalability issues, and can be intimidating for a novice. The new partnership provides a solution to some of these challenges.
A problem solved
Uniswap has long dominated the DEX market, trading on Ethereum’s blockchain technology, and has been so successful that it is cloned on an almost daily basis, giving way to a whole industry of copycats. Its popularity has led to it becoming congested. More transactions taking place on Ethereum’s blockchain drive up gas fees-which must be paid before carrying out any Ethereum transaction- and slow down processing times. PancakeSwap on the other hand has had success as the less expensive alternative to Uniswap, running on Binance Smart Chain (BSC). Binance Smart Chain (BSC) is a blockchain network that allows smart contract-based applications to be executed. However, its transaction fees are still quite high and the platform has been criticized for not being very user-friendly for beginners as the process involved with BSC can be complex.
The new entrant, Mushe, in collaboration with Constellation, will offer cheaper transaction fees, allow users to trade across multiple blockchains in cross-chain swaps, and even convert their XMU into fiat without going through a centralized exchange. Because security is at the forefront of Mushe’s ambitions, the token leverages the Constellation Hypergraph to support millions of transactions a month. The Hypergraph is so secure it is used by the US Department of Defense to process mass data.
While traditional blockchains use fees to capture value on a value-based network and are therefore vulnerable to fluctuation, Hyperspace has no base level fees. The peer-to-peer network allows anyone to attract value from the Constellation ecosystem, with financial incentives. Constellation Hypergraph is not only secure, it’s designed to be simple to use and is also infinitely scalable. Built to keep pace with the increasingly larger data industry, its speed actually increases with network size.
By offering security, affordability and no slow-downs due to congestion, not to mention the flexibility to trade across multiple blockchains and into fiat currency, the Mushe-Constellation collaboration could well become the only application users need to complete a successful trade. Mushe is bringing huge changes to the industry and offering impressive advantages to Mushe token holders. The Mushe token (XMU) will be used for liquidity, which means Mushe users will benefit even more from the increasing trading volume. The user-friendly system and its commitment to educating users about the world of crypto will empower those who feel left behind to get involved. Mushe promises lower financial and knowledge barriers. It’s simple, safe and scalable. And with its cheaper fees, it could spell the end for Uniswap an