CoFiX

While decentralized exchanges today are a step in the right direction, they are limited by on-chain
performance barriers such as computing power, storage and communication shortfalls. They are also
limited by the blockchain's technical characteristics like the time per block (in the real world or another
digital system, time is almost continuous, but in a blockchain system, the smallest unit of time is a block,
e.g., the smallest unit of time in Ethereum is around 14s).
Exchanges based on an Order Book model using centralized computing platforms are all more
performant than on-chain decentralized services and can generate more accurate pricing, better efficiency,
and lower costs. Today, assets with high liquidity and transaction volume (such as ETH and BTC) are much
better suited to centralized exchanges. DEX's need a new model other than the Order Book model. In this
paper, we take ETH as an example to study and analyze DEX design and offer a new solution