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Decentralized Exchange Launches for Dogecoin Swaps

Dogecoin is continuing its rapid transformation from a meme-based coin to respectable Altcoin with the potential to have widespread usability. Today a Dogecoin-focused platform has launched to enable peer-to-peer exchanges, or “atomic swaps.” of the resurgent cryptocurrency.

An announcement on Wednesday from open-source cryptocurrency and blockchain solutions provider Komodo confirmed that its ‘DogeDex” went live on the 1st of March. This new initiative has already seen 3000 downloads plus. The new service is available to use through both desktop and mobile apps and will be powered by the AtomicDEX engine.

Atomic swaps are designed for users to exchange their cryptocurrencies directly without the requirement for a third party such as a centralized exchange.

The DEX additionally can be used as a non-custodial wallet. This will allow users of the platform to store their holding on the platform. Komodo also added that engineers are currently working on building a fiat on-ramp in the next month. This will enable purchases to be made directly on DogeDEX.

“Crypto, like the internet, is so much about community and dogecoin is the currency of the internet. Decentralized exchanges and non-custodial wallets are a few of our specialties and we want to enable [dogecoin’s] considerable fanbase to trade crypto with the very latest technology – Atomic Swaps,” said Kadan Stadelmann, CTO at Komodo.

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