| Issue |
E3S Web Conf.
Volume 430, 2023
15th International Conference on Materials Processing and Characterization (ICMPC 2023)
|
|
|---|---|---|
| Article Number | 01158 | |
| Number of page(s) | 7 | |
| DOI | https://doi.org/10.1051/e3sconf/202343001158 | |
| Published online | 06 October 2023 | |
TEX – True Exchange (Decentralized Crypto Currency Exchange for Indian Markets)
1 Assistant Professor, Department of CSE, KG Reddy College of Engineering & Technology, Hyderabad, Telangana, India
2 Student, Department of CSE, KG Reddy College of Engineering & Technology, Hyderabad, Telangana, India
3 Associate Professor, Department of Computer Science and Engineering(AIML), GRIET, Bachupally, Hyderabad, Telangana.
4 Uttaranchal Instiiute of Technology, Uttaranchal University, Dehradun, 248007
* Corresponding author: sur.svits@gmail.com
Cryptocurrencies have been gaining popularity in India, but the lack of reliable and safe platforms for trading has been a significant concern. This research paper proposes a decentralized exchange (DEX) platform that enables Indian users to trade cryptocurrencies for Indian Rupees (INR). The system uses the Chainlink decentralized oracle network to convert INR to the equivalent ETH, the base currency for trading on the DEX platform. The proposed platform aims to provide secure and transparent trading to users, ensuring that transactions are executed instantly and at a fair market price. The paper outlines the technical details of the proposed DEX platform, including the integration with Chainlink oracles for price feeds and the development of smart contracts for trading. The platform utilizes the Ethereum blockchain and is built using Solidity, a programming language for smart contracts. Finally, the paper concludes with an evaluation of the proposed DEX platform, highlighting its potential benefits for Indian users and its potential impact on the broader cryptocurrency ecosystem in India. This research paper’s findings can guide the development of more secure and reliable DEX platforms in India and beyond.
Key words: blockchain / cryptocurrency / decentralized exchange / chainlink oracle network / Ethereum / smart contracts / gas optimization
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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