BIOKRIPT
Next Generation Cryptocurrency Exchange INTRODUCTION The whole crypto revolution started with desire for decentralization, however more than 99% of all cryptocurrency transactions still happen on centralized exchanges. Current capitalization of the cryptocurrency market is around $1.35 trillion(May 16, 2022) and down from its peak of more than $3 trillion in November 2021. Wall Street analysts and market leaders are predicting steady growth of this market with some figures reaching up to 10 trillion in the next few years. Islamic finance sector was $2.88 trillion in 2020(Global Economic Report) and is expected to increase to $3.69 trillion by 2024. Centralized crypto-to-crypto exchange model is inefficient and open to market manipulation. A report by Blockchain Transparency indicates that 88% of the top 25 crypto exchanges are manipulating their trading volume by using a technique called wash trading in order to boost their rankings in CoinMarketCap. The present model of cryptocurren