Topic: The True Decentralized Exchange - page 2. (Read 384 times)

It is interesting you mentioned Block Dex. I am more motivated to research into the decentralized exchange. Been waiting to find something convincing(like opinions of experienced Blockchain enthusiasts) to get me to research into the exchange.
Hopefully, someone could also share the pros and cons of the exchange.

I am not enjoying anything big out of decentralized exchanges. Because, it the time of actual exchange, I need to move my tokens to the exchange's addy which is the usual thing of conventional exchanges. Moreover, decentralized exchanges led me to move my tokens multiple times unlike centralized exchanges.

I have concluded that a decentralized exchange has nothing to offer for its users but it has some advantages to its owners like no head-aches of securing deposited funds and no need of running multiple wallets still they are able to run a competitive exchange business (actually these are the benefits of smart contracts from exchange business view).

I could not foresee about a true decentralized exchange like how it will benefit an end-user. Peer to peer exchange must be a the true way of decentralized exchanging and all others are at some point depending to centralized things.

Although a DEX gives a person a sense of decentralization we cannot keep the community safe from getting scammed by the DEX. Look at what happened with IDEX, they exit scammed and now they cannot be sought after by authorities, thus all the funds assumed lost unless something good happens.

This constant compromise between DEX with scams and CEX with KYC will go on and on unless governments do something to allow people to trade freely. I guess CEX would be the safer option, not that they cannot be hacked, but chances of exit scam is less.

Truely decentralized exchange seems like that 100% efficiency thing - a false statement.

The purpose of DEX becomes irrelevant for those so called major exchanges, most of them are asking KYC and even the private keys for own account is on their hands. True dex are the one we are keeping our own key to unlock our asset. That's why the crypto now is a mixed of dex and centralization. Anyway, thanks for sharing this OP.

Most DEXes still have a lot of works to do. If blockDX can get to the stage they are now, coupled with their achievements, they can do much more. Well, I am glad that they are being challenged and are at the same time using that to make progress where and when necessary.

The purpose of having a lot of market exchangers is to have an option that traders could find it comfortable with. Though we are flooded with market manipulations and of growing numbers of centralized exchangers but I couldn't think that we are about to leave what Satoshi's idea of being a decentralized one cause still a lot of reputable decentralized exchanges that keeps supporting this.

I do not think having a decentralised exchange is a big issue. We only use exchanges to Buy/Sell and we are aware the problems we can face if we store our assets on an exchange rather on a personal wallet.
I think the problem is more about Scams that can happen on these exchanges and there is no law to for those culprits. We need to focus more on making crypto safe for anyone than concentrating on decentralisation.
It is more than enough decentralised but it does not have the power to protect.

there really is no real decentralization right now. only a few exchanges can really be called decentralized, but now the question is different. Who needs decentralized exchanges at all and who will use them? this is a very small community of real crypto enthusiasts who want to realize Satoshi's idea. Then why do we need many such exchanges if there is no one to use them?

Investor and users will accept if everything goes perfect. Once I used decentralized exchange now don't, only reason is very slow transaction and bug problem. I can remember, I couldn't transaction few weeks in decentralised exchange. I think for payment decentralized coin and for buy/sell centralized exchange.

What about one of the DEX from bitcoin atom? I just found it, but haven't tried it because DEX is still an alpha version and is only available on github. See their announcement here Tritium Decentralized Exchange

The worst among exchanges that claims to be decentralized for me are those asking for KYC verification. They think privacy is another matter and as long as you control the private keys then it can called decentralized  exchange

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I read somewhere that Bisq is also one of those true Dexs. I guess the team also failed to separate it from centralized technologies.

Decentralized exchange is indeed very important for decentralized coins, a time when centralized exchange hot wallets are hit every year. And blocknet is indeed one of the best dex in my opinion too. But indeed, there are more important things as cjmapope has mentioned than speaking exchange. Because the problems called cjmapope is what keeps the crypto world shaking.

i think crypto has bigger problems then centralized exchanges, tho they are definitally top 5.  Greed, institutionalization, and non-stop rampant scamming to start
The problem with Dex's is theres too much confusion, too much hype, and too many shitcoins saying they are "the only true dex"
at this point even i have lost track : / I guess well just hope when we get to crypto heaven "block DX" was the right answer all along?

The advent of Bitcoin has brought a wave of investors and innovation never before seen in the world of finance. Thanks to Satoshi's invention, people can finally achieve financial freedom without middleman. At least, that's what it should've been in the first place. Mainstream businesses and companies have found an opportunity to exploit the benefits of Blockchain technology for their own advantage. It is today where the vast majority of exchanges are centralized while only a few are decentralized. With the advent of the Ethereum blockchain, we've seen many exchanges based on smart contracts which perform exactly as programmed. While all of this sounds great for the average person, most decentralized exchanges are missing one thing in order to achieve full censorship-resistance. And that "thing" is the separation of centralizing technologies (like hosted websites using HTTP, use of databases for orders, etc) which bring a single point of failure.

Since many exchanges are hosted on a centralized server, it greatly defeats the purpose of being censorship-resistant. Even worse, there are decentralized exchanges where it's underlying Blockchain network is not entirely accessible to the public (like Binance Chain). Only a few players control the chain, defeating the purpose of the so called "Decentralized Exchange". The only way that an exchange would be considered as decentralized is if the same does not rely on anything that brings a single point of failure. If it could rely entirely on the Blockchain, it would be better.

So far, the only True Decentralized Exchange is Block DX. This is because its order-matching engine, capital storage, and asset exchange system are entirely based on the Blockchain protocol. Of course, it's not that easy to use as an ordinary centralized exchange. But it's better to have censorship-resistance than convenience/ease of use, in order to keep crypto away from the hands of oppressive governments as much as possible. We need more decentralized exchanges like Block DX in order to help fulfill Satoshi's vision of decentralized finance.

What are your thoughts?