Gala

Gala Games, one of the game-themed altcoins, announced its latest initiative called Galaswap. It has been reported that Galaswap will be a decentralized exchange. 
Gala claims that the decentralized exchange it will launch can process more than 2 million transactions per second thanks to the horizontal scaling approach of the layer-1 chain and that 43,000 user-operated nodes currently support the network. 
GALA price seems to have reacted positively to this development. Following the announcement of the development, the price of the altcoin experienced a sudden increase of over 7%. 
<figure id="attachment_135902" aria-describedby="caption-attachment-135902" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-135902" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/02/GALAUSDT_2024-02-27_20-26-52.png" alt="" width="1342" height="792">
 <figcaption id="caption-attachment-135902" class="wp-caption-text">
 Graph showing the reaction of the GALA price after the development.
 </figcaption>
</figure> 
Related News: <a href="https://en.bitcoinsistemi.com/btc-foe-peter-schiff-updates-statement-as-bitcoins-surge-seems-unstoppable/" target="_blank" rel="dofollow">BTC Foe Peter Schiff Updates Statement as Bitcoin's Surge Seems Unstoppable</a> 
According to Jason Brink, Gala's Head of Blockchain, the decentralized cryptocurrency exchange will empower users to navigate in a faster and more fluid environment. In his statement published on X, Brink gave details about the new stock exchange as follows: 
<blockquote> 
 “The Galaswap system is based on an order book that is very similar to centralized exchanges but is actually on-chain. You get a similar concept to liquidity pools, but much more tightly controlled. You either accept a price and trade or you don't. There's really no concept of a true slippage at the moment. 
 What this means is that the tokens don't leave your wallet until an exchange occurs, you don't put them into a single exchange address or anything like that.” 
</blockquote> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/altcoins-price-responds-positively-to-announcement-that-it-will-establish-its-own-exchange/">Altcoin’s Price Responds Positively to Announcement that It Will Establish Its Own Exchange</a>

Altcoin’s Price Responds Positively to Announcement that It Will Establish Its Own Exchange

Bitcoin Sistemi EN

Other articles published on Feb 27, 2024

Frax Finance to Turn Back on the Revenue Sharing for veFXS Holders

Hong Kong Targets Over-the-Counter (OTC) Crypto Services in Regulatory Clampdown

Last Chance To Buy These Altcoins Before They Skyrocket After Ethereum ETF

Ethereum Surges Past $3,200, Eyes New Highs

Terra Lawsuit Update: Do Kwon to Miss His Trial Due to Extradition Delay?

EthereumPoW (ETHW) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Join our free newsletter for daily crypto updates!