Topic: Atomic Swaps or Decentralized Exchanges? (Read 294 times)

I think they are all good, these two platforms has lots of people that are making use of them, you just have to consider the choice to make use of based on what your needs are. But one thing for sure is that the both of them are legit and good platforms to make use of.

You have to go through them and consider the differences and also based on what you want to be trading, BTC to ERC20 tokens or BTC to fiat, it all varies, just go through all these things and then decide for yourself the one that’s going to work for you. It’s just like we have Coinbase and Binance as two top centralized exchanges, there are people who would choose Coinbase over Binance due to one reason or the other, same as the other way round.

If you are talking about what happened to Pancakeswap, it's a DNS hijacking. During the attack, anyone who would access the official website will be redirected to a fake/scam website. Users that have been redirected were asked to provide their seed phrase again in order to access their account. Needless to say, those who gave it were f*cked.

Pancake swap team were able to regain access but there's another platform (CreamFinance) who failed to do so and were forced to deploy another website. edit: creamfinance regained access as well.

What's this hack in the news now on BSC?

Now I understand what you are because the question you asked on the is so confusing cause we have a wallet called atomic swap which is custodial wallet and I thought you're referring to the wallet when you said "Are decentralized exchanges same as atomic swaps?" so you need to clarify your statement or else people will still misunderstand you.
Atomic swap is the method used by DEX to perform there exchange activities and it does not support centralization.

I don’t know if Coinbase can do it, but maybe they know someone who can do it.
Bitcoin is valuable only because no country or organization in the world can block transactions or coins.

I prefer Ethereum Based Layer2 AMM DEX
https://zks.app/en/wallet
https://medium.com/zkswap/ethereum-based-layer-2-amm-dex-zkswap-has-completed-its-mainnet-deployment-will-officially-launch-8be17d23cc77

Theres earlier posts in this thread that say DEX's are Atomic Swaps because DEX use Atomic Swap service but now you mentioned they are both different services 

Just to confirm Atomic Swaps are Centralized or Decentralized?

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Do you know if Coinbase can freeze/block USDC stable coin in USDC wallets?

Okay the bridge will allow erc20 Eth tokens to be traded for cheaper fees on the BSC?

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Learn to use gastracker
https://etherscan.io/gastracker
The DAI smart contract does not have the ability to block coins, I wrote about other stablecoins here
https://bitcointalksearch.org/topic/stablecoins-and-blacklists-5247581
You want to save 3 cents, and I'm talking about decentralization and the importance of maintaining control over your money.

If you want to trade on BSC, then use the bridge
https://www.binance.org/en/bridge
Next, use the analogs of uniswap in the BSC network,
https://julswap.com/#/swap
https://exchange.pancakeswap.finance/#/swap

About 10K+ nodes according to ethernodes.org

I've little knowledge about this. Sorry but can't help you.

I don't know if they have plans to increase. They are probably not as worried from external attacks as you are because they control all the 21 validator nodes.

They are open for candidates to become a validator though https://docs.binance.org/smart-chain/validator/guideline.html

Yes.

No it is not. You are confusing mining pools with miners. There are some mining pools with HQs in China and servers oversees and there are miners from all around the world connecting to those pools increasing the hashrate that pool represents.

No, there isn't any mining farm that has even remotely close to that amount of hashrate.

Decentralized exchange out there are totally not the same as atomic swap/Binance Dex cause DEX exchange allow people to perform exchange of crypto currency without surrender the control of crypto to any exchange or swap service provider which is not what atomic swap executes.

No, they (genuine decentralized exchange) operate independently.

Uniswap
Mdex
Pancakeswap
Vitex
You can check coingecko for there list

When you say paying network fees, do you mean paying to the miners?

Isn't most of bitcoin #hashrate, over 50% of it is based in China that is not globally equally shared. From your argument that means bitcoin is not truly decentralized right because the Chinese communist government can take over the mining farms there correct and do a 51% attack against the Bitcoin network?

Do you know how many nodes Ethereum has and is it the matter of the more nodes there's is in a network the more decentralize it is?

BitTorrent P2P network has millions of global users connected to each other. Can we say everyday torrent users that are just downloading the latest movies are nodes of the torrent network?

Lastly do you know if BSC in the future plan to increase the node count to more than 21? Because 21 nodes is too low and can be easily taken over by hackers or government because its a small amount to take over the network.

But those that are built on top of Ethereum can not be called "DEX" because you can't really trade cryptocurrencies there. All those that I've seen are "token swaps" meaning you can swap a token built on ETH with a token that is built on ETH! You can't trader for example BTC/LTC there.
Binance is also mostly relying on their centralized platform so it is entirely different than any other DEX and I wouldn't call it DEX to begin with since it has limitations and centralization.

It would be their death because they weren't decentralized to begin with.

Not that I know of.

If you can say something is "based in somewhere" then it is not decentralized. Can you say bitcoin is based in anywhere? No, that is why bitcoin is decentralized.
A true DEX is 100% peer to peer and doesn't have any servers, no middle man and no company to based in any country. In a real DEX you simply find another peer and make your trade with them only paying network fees. A real DEX can never be shut down just like how they can't shut down torrent network or bitcoin, etc.

The volume on BSC is pretty high already and have exceeded ethereum's daily transaction at one point but the fees were not affected.

BSC has 21 nodes running right now which means it's more centralized than Ethereum. That also means they can control the fees. If you are going to scroll through CZ's twitter, you'll probably find a tweet that mentioned the number of times the transaction fees were reduced.

Yes, very possible. That's why there are lot of people are happy somewhat because of these kinds of alternative network for Ethereum, since it will help somehow to scale Ethereum as of the moment.
Validators which needed particular amount of BNB to be the one, they will rewarded by the transaction fee for securing the network itself.

Lets say for example bitcoin hits 100k and I have 1 whole bitcoin to sell in a decentralize way.

How much would the gas fee be when I tokenize convert that 100k bitcoin, will the gas fee be high like 10k or something?

After tokenized conversion or wrapping up that 1 btc, then I have to pay gas fees again on the decentralize exchange if I sell it for stable coins? So how much much approx I will lose in fees when selling a 100k btc in a time when Eth network is busy?

Is there a video guide on how to do this on the BSC for cheap fees? Has there been known cases of BSC freezing your crypto because you say BSC is same as normal centralized Binance except KYC meaning BSC is not really decentralized right?

Lastly how does your way compared to Bisq, is it better, more liquidity and cheaper?

Is there a tokenized BSC bitcoin?

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Another newbie question I have is can the fees on BSC become high like Eth gas fees now when Bsc network becomes congested like Eth now?

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If you are interested in bitcoins on the Ethereum network, then study my 2 topics

Decentralized Tokenized BTC
https://bitcointalksearch.org/topic/--5290331

Decentralized bitcoin trading
https://bitcointalksearch.org/topic/--5290331

You carry out any interactions with the binance blockchain through this bridge.
https://www.binance.org/en/bridge
For me personally, Binance Chain is the same Binance, only without the KYC.
There are big problems with decentralization, but in terms of speed and commissions, it is better than Ethereum.

The day when DEX's introduce KYC will be the day when they dig their own graves as KYC defeats the purpose of DEX's.

When you say centralised points in the network like connect to server or paying fees to a 3rd party or middle man or miner then can these points freeze your crypto or confiscate it? Has there been known cases of this before?

Everybody knows Switzerland is a privacy friendly and tax friendly country.

Shall I assume all these DEX's are based in such friendly countries so friendly governments cant put pressure on them?

I think I pasted a link above, most or nearly all your questions will not be asked if you have gone through it. You can use the link the know the coins and their trading pairs on exchange exchange listed. Binance dex is also included.

https://coinmarketcap.com/rankings/exchanges/dex/

No. Binance smart chain is entirely different, but there are wallets that make you to have access to Dex while some will support ERC-20 and some BSC together. But, you can not trade tokens on Ethereum platform with the ones on BSC and vice versa.

BSC comes with lower fee than ERC-20

WBTC is ERC-20 not BSC, but it is possible to also be on BSC, but I do not know of recent. While using any exchange, you will be able to differentiate between ERC-20 tokens and BSC, which means it is not a problem.

About Changelly, it has email required, you will use it as a third-party on reputed noncustodial wallet, in this case, no email required than addresses.

Okay these DEX's are either using Ethereum chain or Binance Smart Chain correct? Binance chain will have the cheapest trading fees until Eth 2.0 comes out right?

Bisq is the only DEX available for selling bitcoin? Can you sell Btc for Dai on Bisq and does Bisq have good volume/liquidity? Is Localbitcoins.com decentralized like Bisq?

Do both Changelly & CoinSwitch both use KYC? I don't understand how can you comply with their KYC requirements if they freeze your coins when you haven't registered with them to begin with before using their services? How you comply with their KYC requirements when they don't even know your email address to notify you of them freezing your coins 

I see Mdex is no.1 ranked DEX, are they any good?

Binance Chain Dex has cheap fees, can you trade Eth tokens or Btc on there?

What is wrapped Btc and this is only used for Dex's?

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Sorry for the newbie question but I cant seem to see Binance Dex in the list below:
https://www.coingecko.com/en/dex

Can I trade erc20 tokens on the Binance chain to save on fees? Is there like a emulation or hybrid or virtual machine service for eth erc20 token on binance smart chain to save on gas fees or the only way in the future is Eth tokens/erc20 projects convert their coins/projects to native binance smart chain tokens if somehow Eth 2.0 launch is screwed up or delayed?

Wrapped bitcoin is erc20 bitcoin right?

Lastly what's the difference between 'non-custodial' service & decentralized exchange?

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Which coins are on the BSC chain or support it?

Eth 2.0 is two to three years away  , during this long wait BSC can flip Eth for no.2 market rank and Eth and all erc20 tokens can die off if this happens.


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