|Market Cap||$ 17.8M|
|Volume 24h||$ 1.2M|
As of the latest data, Serum (SRM) is priced at $ 0.04780619. Please note that cryptocurrency prices are highly volatile and can change rapidly within minutes.
Serum (SRM) is a decentralized exchange (DEX) software that operates on the Solana blockchain. It aims to provide a high-speed and low-cost platform for crypto trading without sacrificing the decentralized nature of blockchain technology. Serum was created to address the limitations often encountered with traditional DEXs, such as high fees, slow transaction speeds, and fragmented liquidity pools.
The Serum project is an initiative by a collective of individuals from the cryptocurrency community. It was brought forward by the team at Project Serum, with significant contributions from Sam Bankman-Fried, founder of the FTX cryptocurrency exchange, and the team at Alameda Research. Serum is heavily supported by these entities which have strong backgrounds in cryptocurrency trading and decentralized finance.
Serum operates on the Solana blockchain, known for its high throughput and low transaction costs. Using an on-chain order book in combination with a matching engine, it enables users to trade cryptocurrencies against each other in a decentralized environment. Unlike many DEXs that use an automated market maker (AMM) model, Serum's on-chain order book model is similar to that used in traditional stock exchanges and allows for more flexible trading strategies.
One unique aspect of Serum is its use of the Solana blockchain to overcome Ethereum's limitations regarding transaction speed and costs. It aims for sub-second trading and settlement times along with fees that are only a fraction of a penny. Another key feature is Serum's cross-chain compatibility, which suggests that it is built to function between multiple blockchains, expanding its potential use cases.
Serum's matching engine is an integral part of its architecture designed to pair buy and sell orders from users efficiently. This mechanism supports the limit order functionalities and can handle complex orders and trading options, which are typically not available on standard AMM-based DEXs.
As a project that runs on the Solana blockchain, Serum inherits the security mechanisms of Solana, which uses a proof of stake (PoS) consensus combined with proof of history (PoH). These mechanisms help secure the network against attacks, and the distributed nature of the blockchain implies that security is upheld by a decentralized network of validators.
Serum has a circulating supply of 372.8M SRM tokens. These are the tokens currently available to the public and are being traded on the market. The total supply of SRM tokens, or the maximum number that will ever exist, is 1.1B SRM.
Serum plays a role in the DeFi ecosystem by providing a platform for trustless and non-custodial trades, crucial for users who prefer full control over their assets. It also enables other projects to build on top of its liquidity and trading capabilities, fostering a rich DeFi environment on the Solana blockchain.
Upgrades to the Serum technology are managed by the Project Serum governance system, where SRM token holders can have a say in the proposed changes to the protocol. Upgrades can include adjustments to its core smart contracts, introducing new features, or fixing any discovered vulnerabilities.
Serum (SRM) can be purchased on various cryptocurrency exchanges. You can check the latest available exchanges for SRM, but some of the most common places to buy SRM include:
Indodax, Gate.io, Probit, BitMax
It is always recommended to do thorough research and use a reputable exchange when purchasing cryptocurrencies.
The best practice for keeping your Serum (SRM) tokens safe is to use a hardware wallet or a secure software wallet that provides you with a private key. It is crucial never to share this private key with anyone and to keep multiple backups in different safe locations. When not trading, keeping your SRM off of exchanges and in your private wallet can help increase security.
For up-to-date information on where you can buy Serum (SRM), you should refer to the current listings of cryptocurrency exchanges. Serum is available on several exchanges, and the available platforms are constantly evolving. Always ensure to use reputable and secure exchanges when making your purchase.