IDEX introduction
IDEX is a decentralized smart contract trading platform based on Ethereum. Based on the centralized matching engine [order book mode, off-chain matching, on-chain liquidation mode] to achieve high transaction throughput and real-time transactions, it supports limit and management orders, and can Conduct multiple transactions at the same time. The mode adopted by IDEX is the off-chain order book mode. After the user must send the currency to the exchange address, all transactions will be matched through the transaction processing arbitrator, traded in order, and finally the results will be published on the chain. The IDEX smart contract is designed so that only exchanges have the right to submit signed transactions to Ethereum. The IDEX smart contract can control the processing order of transactions through "arbitration" and separate transaction behavior from final settlement. As users make transactions, their transaction balances are updated in real time, and their private keys are used to authorize contract transactions. This authorization prevents users from reversing any completed transactions and prevents IDEX from initiating any unauthorized transactions. Authorized transactions are passed to an arbitrator who manages a queue of pending transactions, dispatching them sequentially to ensure each transaction is mined in the correct order and smart contract balances are kept in sync with transaction balances. By controlling the order of transactions, IDEX provides the speed and user experience of a centralized exchange, as well as the security and auditability of a decentralized exchange.