Topic: The DEX (Decentralized Exchange) Thread - page 9. (Read 24439 times)

Alright, I added Waves and Blocknet, and edited all of the existing entries to make it easier to read. Since there are more DEXs I edited the old DEXs to be more concise.

As always, let me know if a description is inaccurate.

Blocknet
- Status: Alpha
- Website: http://blocknet.co/
- BCT Thread: https://bitcointalksearch.org/topic/annblocknet-truly-decentralized-exchange-token-ecosystem-infrastructure-829576
- Blocknet is not only a DEX, it is a peer-to-peer protocol between nodes that connects different blockchains. The DEX is its first application.
- Trades are done in a fully decentralized manner via autonomous atomic swaps
Strengths:
- No derivatives, multisignatures, or IOUs
- Direct peer to peer trading via atomic swaps
Weaknesses:
- You must download the entire blockchain of each coin you want to trade, have the wallets running, and configure the RPC username/pass*
- Alpha

Waves
- Status: Released
- Website: https://wavesplatform.com/
- BCT Thread: https://bitcointalksearch.org/topic/waves-ultimate-crypto-tokens-blockchain-platform-1387944
- Wallet (Chrome App): http://forum.instantdex.org/
- IOU trading, including cryptocurrencies and FIAT derivatives
- The SPV wallet is a Google Chrome app, and the installation is super easy.
Strengths:
- A pretty and easy to download SPV wallet
- Lots of developer funding
- FIAT IOUs
Weaknesses:
- You can only trade IOUs

Next I will add Etherdelta. Let me know if there are other projects that should be considered.

It's nice to see some discussion here without me having to initialize the conversation.

I have been meaning to update this thread since I started posting again in March of this year, but I haven't got around to it.

Waves has been on my radar for a while, and it will definitely be added to the OP. I like their GUI and easily accessible SPV wallet. I am not that fond of IOU DEXs though. I personally don't really mind using IOUs, but I know they are a non-starter for a lot of people in the crypto community.

I added Blocknet a while back, but then never got around to updating the information about it. I think it is the best DEX in development at the moment. The most decentralized for sure, and it does not rely on derivatives or IOUs. Since I am more informed about it now, I will update it soon.

There is also EtherDelta which is a DEX on the Ethereum blockchain in which Ethereum coins can be traded.I haven't researched it much yet, so I can't really comment on it.

I've heard Supernet is working on a DEX as well. I think their DEX works by utilizing autonomous multisignature, so there are not IOUs or derivatives. Multisignature DEXs are not as decentralized as most IOU/derivative exchanges though.

It seems the B&C Exchange project is dead... its community got hit pretty hard when Nubits collapsed about a year ago. I hope someone picks up the project and develops it though, because I think it is one of the best DEX concepts that have been published.

There is a lot more activity in the DEX space now than a few years ago, so it looks promising. I think sometime in the next few years a DEX or two will reach critical mass, and then we can finally rid ourselves of centralized exchanges, along with all of the problems they cause.

I will try to update the OP tonight with at least Waves, Blocknet, and Etherdelta.

BTW There is https://bitsquare.io/ but it's volume seems low.

Yeah i was checking it too, but i think it's not enough coin pairs there ATM. But in time it can be really good.

Hi everyone!
Interesting thread.
Did you take a look at the new DEX that already have Waves Platform?
Own wallet with DEX.
They are working on the new gui.
In 4-6 weeks must have this look:

Hi,
due to the frequent outages at Poloniex, many people are looking for alternative exchanges now. DEX seems very intersting to me. I would like to hear some experiences others made with DEXs, so i wonder why this thread is so dead.
Is there maybe another thread that i have missed?

Up

....  Bitmarket.eu

....

Bitfinex? Oh, thats only a scratch!

https://youtu.be/zKhEw7nD9C4?t=1m25s

Yes. The question is why is not there support from the users to invest their money thru a DEX. It is safer and they control everything and the trade is direct with the other users. Maybe the problem is that most of the users do not care.

Bumping this thread on the news of the Bitfinex hack. How many more exchange defaults are needed before most people realize.a switch to a decentralized exchange is necessary?

Mt. Gox, Bitcoinica, Bitfloor, Bitcurex, Canadian Bitcoins, Mintsy, Cryptsy, Bitfinex ...

I don't think so, or at least I can't conceptualize how it would work with different blockchains.

Has anybody considered creating a SWAPCHAIN-BLOCKCHAIN ?

Blockchain combined with

https://en.m.wikipedia.org/wiki/Swap_Chain

Would that work?

 

Don't forget Mintpal !

I just googled it and you so many options to choose from. I'm still waiting to see which ones will survive. Any advice witch one to use right now with enough volume?

Bitcoin is not designed to be a trading protocol, it is designed to be a transfer protocol. You'd need a new design for a trustless trading protocol, and even then you'd only be able to trade tokens within that system.

However, bitshares does have something to teach us from that perspective; which is that, for purpose of trading and speculation, owning a token which exactly tracks the value of some real world asset, is equivalent to holding that real world asset.

Decentral as a word is misleading and doesn't say much per se. Bitcoin for instance is used by millions, but only a very small fraction uses it without trusted third parties. And the people who use its advanced features is even smaller still. And as I mentioned Bitcoin does require trust in your counterparty - if you send someone BTC or USD doesn't make much difference from the standpoint of counterparty risk. Bitcoin minimizes risk to third parties, not counterparties. Bitcoin has ways to minimize counterparty risk, but almost nobody uses them, for reasons related to what I've described here. One of them: to do anything at scale requires some interaction with the law, and soon as one has a business at scale most things change (modern economies scale via organization).

Then I fail to see what the point of using a decentralised solution would be - if you add trust, you might as well use a centralised service, which would have all of the advantages with none of the disadvantages.


It depends on whether a semi-deterministic ordering of transactions can substitute for a total ordering. You can get a semi-deterministic ordering using a similar methodology as the LCR for blocks, the probability of the ordering holding increases logarithmically in N for blocks which are N behind the head.

I was just making the clarification that HFT bots need fast response times in order to work with any chance of a profit, which we can't have in a decentralised system, rather than just a plain high TPS which you could argue that bitcoin with a huge block size might have, but this would be a totally inappropriate design for HFT traders to use.

I agree that it's largely pointless arguing about the minutiae of this in the face of the fact that it's impossible, though