Intro to Exchanges

Exchanges are crypto’s killer app, across DeFi, GameFi, and NFTs, and most if not all trade volume flows back to exchanges. Orderbook models continue to reign supreme across all large centralized exchanges, both in traditional finance and crypto. They are proven to be reliable, fast, and capital efficient. However, bringing an order book on-chain is immensely difficult. Teams need to deal with high transaction costs, slow trade execution, and inaccurate pricing among other obstacles.

There have only been a select few working implementations of order books on-chain thus far. Each one deals with clear tradeoffs, balancing between speed, efficiency, and reliability.

The Significance of On-chain

Off-chain order books have historically dominated perpetual and spot trading on venues like FTX, Binance, and Coinbase. Having been built on robust web2 infrastructure, centralized exchanges have near-zero transaction costs and near-instant order executions. The main drawbacks of off-chain order books are their centralized nature and increased regulatory exposure.

On the other hand, on-chain order books can be decentralized and trustless, but frequently hindered by network congestion, high transaction costs, and slower execution. This means that most on-chain order books are only as efficient and capable as the chains they are built on.

ABCN Business Plan :
Ace Blockchain Crypto Network is a blockchain platform that is a decentralized digital infrastructure that enables the creation and execution of applications, services, and protocols based on blockchain technology. It serves as a foundation for building and deploying various decentralized applications (DApps) and smart contracts marketplace.

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