Serum is proving to be an interesting blockchain to build decentralized exchanges on. It is a fast, cheap, and highly liquid solution to cater to traders. A few new upgrades are in development to make this ecosystem even more competitive.
Serum Continues to Evolve
- Building a decentralized exchange allows users to retain full control over their crypto assets at all times.
- It is a better version of centralized platforms, and one that is often much cheaper to boot.
- Several blockchains compete for traction in the world of DEXes, although not all of them will prove successful.
- Thanks to some initial support, Serum has quickly gained a fair bit of traction in this segment.
- In fact, several DEXes leveraging Serum technology are already in development, with varying degrees of accessibility to date.
- Moreover, it remains somewhat complex to get funds to Serum-based DEXes, a problem that is now slowly being resolved.
- Looking at the Sollet Solana SPL token wallet, an important first step has been taken.
- Integrating support for MetaMask – the top Ethereum wallet app – is a big step in the right direction.
- Users can convert between ERC-20 tokens and SPL tokens through Sollet at a 1:1 ratio.
- Once this step is completed, users can begin trading on the Serum DEX GUI right away.
- In a future update, users can convert arbitrary ERC-20 tokens to SPL tokens through Sollet.