The Decentralized Digital Asset Exchange is exchanging cryptocurrencies for direct P2P transactions to take place online securely without any intermediary. Investors can benefit from this platform by having safe transactions with smart contracts present in it, cost-effective, truthless transactions, diversity. Decentralized Exchange platform provides a vast opportunity for businesses to engage digital assets and enhance financial inclusion.
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Non-fungible tokens or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other.
Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency.
This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.
Digital Transactions MarketContinuously rising adoption of digital solutions to manage and automate business along with transaction management processes are few major boosters in the digital transaction management market.
Not only this, but the growing popularity of digital payment modes has also stimulated the demand for DTM solutions and can help the market expand favorably in the coming years.Technological advancements have given way to highly secure and stable DTM solutions.
For example, the blockchain technology has picked up immense speed in recent years, as it helps provide a set of timestamped data records in a chain form that connects all the records.
Each transaction is proof of consent provided by the end user who started the transaction with the use of digital signatures.
Advances in these digital technologies are expected to boost the adoption of DTM solutions in the following years.DTM management market has been segmented with respect to components, solutions, and end user.The market segmentation, with regard to solutions, includes e-signature, document archival, workflow automation, and authentication.
The E-Signature segment leads the digital transaction management and is growing at a rate of 26.47% while the workflow automation market is poised to achieve a growth rate of 28.85% from 2017 to 2023.The segments depending on component, are hardware, services, and software.
