Ȗniswap | 𝑬xchange

The Uniswap platform can support the exchange of any digital token that adheres to the Ethereum technical standard known as ERC-20. Uniswap uses smart contracts, which …

The Uniswap platform uses blockchain-based smart contracts to facilitate the decentralized trading of many different digital assets. Pairs of digital assets are swapped via liquidity pools, which use smart contracts to automatically rebalance after every trade. The Uniswap blockchain, which functions like an electronic ledger, is continually updated to reflect the trading activity occurring among Uniswap users. By functioning as an exchange without any central authority's involvement, Uniswap is an automated market maker.3

Uniswap operates using the Ethereum platform, which currently uses the proof of work operating method. (Ethereum is gradually transitioning to using only the proof-of-stake method.)5 Proof of work requires vast computing and energy resources, which support transaction processes and generate new cryptocurrency.