Okex plans on launching a DEX | Bitcointalksearch.org

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: OmegaStarScream on March 26, 2019, 03:04:30 AM

Just like Binance, this looks like a way to push their blockchain and coin. I don't think I could say its a step backward though because the fact that we are being able to retain full control over our private keys is already a huge step forward and could make us avoid inside jobs or hacks easily.

they retain private keys that unlock proxy tokens on binance's private blockchain. we're going from DEX trading with eg ethereum's POW security to a private federated or DPOS blockchain. when CZ did an AMA recently, he confirmed there will be 11 validator nodes securing binance chain. lol!!! that's a huge step backwards. it's more centralized than ripple!

when you look at what bitshares and ethereum have already done, and what blocknet and komodo are building......what binance is doing is the most centralized attempt at a DEX yet. (that is, until okex releases theirs lol)

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

"Its own blockchain" does not sound like the essence of what a dex should actually be. Presumably you stick with your own private keys which is definitely the main step needed. Beyond that true permissionlessness is the next one and I'll bet this isn't it.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Just like Binance, this looks like a way to push their blockchain and coin. I don't think I could say its a step backward though because the fact that we are being able to retain full control over our private keys is already a huge step forward and could make us avoid inside jobs or hacks easily.

joniboini

legendary

Activity: 2170

Merit: 1789

They're saying that this DEX is on 'final' stage? Interesting. Are they using the same infrastructure like Binance (Cosmos/Tendermint) too?
Hmm, so they're basically using open source tech and then edit it so they can gain profits from that. Hmm.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: 1Referee on March 25, 2019, 04:10:32 PM

Binance digged and found a new way to make insane amounts of money. Now it is time for the herd of Asian shit exchanges to follow in order to claim 'their' slice of the pie.

pretty much. this is like binance dex jr. both are just a money grab.

it's the same shitty model---a centralized "blockchain" where you trade tokenized assets and pay fees in the exchange's native token. it's a step backwards, really. there's definitely no progress beyond what's already been done by bitshares, ethereum, blocknet etc.

1Referee

legendary

Activity: 2170

Merit: 1427

Binance digged and found a new way to make insane amounts of money. Now it is time for the herd of Asian shit exchanges to follow in order to claim 'their' slice of the pie.

If these were attempts to contribute to decentralized exchanges as a whole, I would welcome this hype, but this circus is a shitshow that will turn actually decentralized exchanges into the next meme. These exchanges have done nothing but spoon feed get rich quick minded gamblers with the garbage they are easily triggered by.

milewilda

legendary

Activity: 3094

Merit: 1127

So, they are going on the same path on where Binance been doing.I doubt the popularity between Okex dex and Binance dex is too far away IMHO but still a good thing yet we do have other options on using up DEX.

kenzawak

hero member

Activity: 658

Merit: 851

https://www.coindesk.com/okex-has-secretly-built-a-native-blockchain-dex-to-come-soon

"Crypto exchange OKEx said it plans to launch a decentralized exchange (DEX) on its own blockchain.

The Malta-based company announced Friday that its operations team has been developing a blockchain called OKChain, which will provide the underlying tech for its “first” decentralized exchange, OKDEx. OKChain is currently at the “final” development stage, the company said, adding that a test network launch is expected in June."

Topic: Okex plans on launching a DEX (Read 171 times)