Introduction

Hello guys,
I sincerely appreciate the professor @gbenga for his wonderful lecture delivered for the week-4. I have really learnt a whole lot from your lecture these past weeks. Today I will be discussing on they Ethereum Blockchain. From they lecture delivered by professor @gbenga I have learnt that the Ethereum Blockchain was launched in the year 2015 by Vitalik Buterin. Well, it's important to mention here that the Ethereum Blockchain was developed or designed purposely to improve they first crypto currency Blockchain which is Bitcoin.

More also, the Ethereum Blockchain is very flexible because users are given the opportunity to create for themselves they program they will be needing in the Blockchain. And these program is known as decentralized applications which runs on the Ethereum Blockchain.

The Blockchain is known as Ethereum whereas the currency use is known as Ether (ETH). These currency came in conjunction with the Blockchain same year, i.e 2015.

Source

One among other projects built on the Ethereum Blockchain is the Uniswap. And today I will be discussing on it. So follow me carefully as we learn all we need to know about uniswap.

First and foremost what do we mean by the word uniswap? From my very little research and studies, I see uniswap as a decentralized applications (Dapps) i.e exchanges here are not control by a single body. More also, uniswap deals with a pricing algorithm to determine its price.

Uniswap broadly has two major features i.e swap and pool.

• SWAP allows users to swap between Ethereum and other ERC-20 tokens.
• POOL allows users to earn by providing liquidity tokens in smart contract to receive rewards.

Advantages of using Uniswap

They following are the advantages of using Uniswap

• low trading fees of as low as 0.30% is the only charge accepted per transaction.
• New coin accessability, i.e uniswap has the features of accessing any new coin faster.
• You coin is solely in your custody and you can do as you please at any point in time.
• Flexibility of the application there by making it user-friendly.

Disadvantages of using Uniswap

They disadvantages of uniswap are as follows

• High probability of failure is always involve anytime swapping in is carried out in uniswap.
• More fake Coins, and fake transaction are been carried out on uniswap.

How to use Uniswap

To use Uniswap simply follow the instructions given below.

• Go to the Uniswap interface.
• Connect your wallet. You can use MetaMask, Trust Wallet, or any other supported Ethereum wallet.
• Select the token you’d like to exchange from.
• Select the token you’d like to exchange to.
  Click on Swap.
• Preview the transaction in the pop-up window.
• Confirm the transaction request in your wallet.
• Wait for the transaction to be confirmed on the Ethereum blockchain. You can monitor its status on https://etherscan.io/.
  Source

Conclusion

My sincere appreciation goes to our very own professor in the person of @gbenga for his continuous enlightenment through out his lectures. Sir, I have really been a beneficiary of your lectures. To be honest with you sir, these lecture has really taught me a whole lot.

Best regards
Cc: @steemitblog
cc: @steemcurator01
cc: @steemcurator02
Cc: @steemcurator03

Thanks for reading...