What's your opinion on the future of Decentralised exchanges

Xal0lex

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Quote from: Abiky on May 05, 2023, 06:01:39 AM

What will happen with CEXs is that they will relocate to countries with a friendly environment towards crypto/Blockchain tech. The US has been "hostile" against CEXs lately, so it should only be a matter of time before they all move to another country. Just my thoughts Grin

Now many exchanges are changing jurisdictions or opening new headquarters in other countries. The trend appeared after 2021, when various attacks on centralized exchanges began. It is safe to say that all these moves and the opening of new offices of exchanges in different countries have a negative impact on the convenience of the users themselves. Exchanges are beginning to obey more and more regulators in different countries and the number of exchanges without KYC is noticeably decreasing.

Abiky

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Quote from: Xal0lex on April 22, 2023, 10:31:08 AM

It is worth wondering if they will ever come close to replacing centralized services perfectly. It's also worth asking if most modern crypto users need this replacement and move away from centralization? It seems to me that in the crypto world decentralization will always not be a popular topic, rather a certain underground and a place for a special category of users, which will always be a minority. The majority will never trade CEX for anything else.

That's certainly true, mate. Only a small number of people (mainly geeks, libertarians, and tech enthusiasts) will embrace DEXs. The rest will simply carry on as usual with CEXs as their main platforms for crypto trading. It's all a matter of convenience. Just because a big CEX collapsed, doesn't mean it's "game over" for other exchanges. They will eventually become bigger and stronger than ever as long as they have the backing of mainstream governments. DEXs won't go away either, thanks to the way they're designed. I expect them to become a "force to reckon with" in the future as developers roll out network upgrades aimed to improve scalability.

What will happen with CEXs is that they will relocate to countries with a friendly environment towards crypto/Blockchain tech. The US has been "hostile" against CEXs lately, so it should only be a matter of time before they all move to another country. Just my thoughts Grin

Xal0lex

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Quote from: Abiky on April 19, 2023, 09:40:59 PM

Quote from: Xal0lex on April 18, 2023, 01:10:01 PM

DEXs are alternate airfields when storm clouds gather around CEXs. Once the clouds go away, people bring their money back to CEXs. DEXs will never replace CEXs. Rather, they will likely continually act as a backup and temporary option for exchanges and trading, during times when making deposits on CEXs is very risky.

I'm afraid so. DEXs are still far from being a perfect replacement for CEXs. Besides, you can't expect a DEX to comply with regulations if it's truly decentralized and censorship-resistant. CEXs may've suffered a severe blow after the FTX collapse, but that doesn't mean they will die. Regulations will increase to help prevent another catastrophe like the FTX implosion from happening again. As long as governments are keen on collecting crypto taxes, don't expect CEXs to go anywhere soon.

I hope DEXs improve to a point where they become as comparable as their centralized counterparts in terms of performance and user experience. With L2 scaling solutions, and native mobile apps, we should expect DEXs to grow bigger in the future. Who knows if they get to last for generations? Just my opinion

It is worth wondering if they will ever come close to replacing centralized services perfectly. It's also worth asking if most modern crypto users need this replacement and move away from centralization? It seems to me that in the crypto world decentralization will always not be a popular topic, rather a certain underground and a place for a special category of users, which will always be a minority. The majority will never trade CEX for anything else.

Abiky

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Quote from: Xal0lex on April 18, 2023, 01:10:01 PM

DEXs are alternate airfields when storm clouds gather around CEXs. Once the clouds go away, people bring their money back to CEXs. DEXs will never replace CEXs. Rather, they will likely continually act as a backup and temporary option for exchanges and trading, during times when making deposits on CEXs is very risky.

I'm afraid so. DEXs are still far from being a perfect replacement for CEXs. Besides, you can't expect a DEX to comply with regulations if it's truly decentralized and censorship-resistant. CEXs may've suffered a severe blow after the FTX collapse, but that doesn't mean they will die. Regulations will increase to help prevent another catastrophe like the FTX implosion from happening again. As long as governments are keen on collecting crypto taxes, don't expect CEXs to go anywhere soon.

I hope DEXs improve to a point where they become as comparable as their centralized counterparts in terms of performance and user experience. With L2 scaling solutions, and native mobile apps, we should expect DEXs to grow bigger in the future. Who knows if they get to last for generations? Just my opinion

Xal0lex

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Quote from: Abiky on April 12, 2023, 08:23:07 PM

DEXs may be gaining traction, but that doesn't mean they will beat CEXs for good. That's because DEXs will be unable to fully comply with regulations due to the way they're designed (not to mention, they will always have lower liquidity than their centralized counterparts). Don't expect CEXs to go anywhere soon, especially when they're extremely useful for helping governments track & trace tax evasion, money laundering, among other illegal things.

The FTX scandal will become history as the crypto industry emerges bigger and stronger than ever. Who knows if CEXs will take other measures to help prevent another crisis from happening again? Juat my opinion

DEXs are alternate airfields when storm clouds gather around CEXs. Once the clouds go away, people bring their money back to CEXs. DEXs will never replace CEXs. Rather, they will likely continually act as a backup and temporary option for exchanges and trading, during times when making deposits on CEXs is very risky.

Fesatmas

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Quote from: b3j0 on April 01, 2023, 10:47:12 AM

indeed the incident that happened to FTX had a big impact on the crypto world because FTX is one of the biggest exchanges. but personally I still use CEX more often than DEX because for trading purposes I prefer to use CEX because in my opinion trading using CEX is easier and easier to monitor prices. I use DEX only at certain times, for example when exchanging coins that I get from bounties or airdrop.

Yes, it seems that most people are still using the Centralize exchange as their tool to carry out transactions, trades and deposits in the near term, moreover maybe because the Centralize exchange has mobile apps that are easily accessed by mobile phones so that efficiency and effectiveness in activities is easier than using a Decentralized exchange, both pancake swaps and others are not of much interest, I also only use a Decentralize exchange only to use it when I really have to use an exchange, the incident on FTX certainly took a hit on the popularity of centralized Exchanges but the features provided by centralized exchanges make it more convenient to make people don't use DRX that much.

dlightag

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Decentralized exchange has many future in the cryptocurrency industries, which can not be compared with other exchange, in every business to be successful, there is always a secret behind it, that back up the standard of the particular exchange, for example Binance Exchange will be number one decentralized exchange in the cryptocurrency industries market.

Epaper

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Quote from: Huppercase on March 07, 2023, 01:46:46 PM

Quote from: asrinur on March 07, 2023, 07:09:33 AM

I think not all decentralized exchanges are perfect. While most DEX are still less intuitive than some other centralized exchange platforms, Decentralized exchanges are generally fully permissionless meaning anyone can use them and allow users to maintain full control over their assets at all times.

Decentralized exchanges can never be like centralized exchanges, they don't share the same properties, centralized exchanges are custodial which means everything is under their care while decentralized exchange gives you the protocol level to operate on while you have the control of it since you handl the private key to your wallet. When decentralized exchange start having features of centralised exchange, then it is no longer decentralized any more, there should never be a middle person in decentralised exchange. It wouldn't be bad if DEX can streghen their security features for maximum efficiency.

It should be noted that a decentralized exchange is one that does not have one central entity controlling it, and users have control over their own private keys. This is in contrast to a centralized exchange which controls user assets and has the authority to handle transactions. However, decentralized exchanges still have some drawbacks such as lack of liquidity and less regulated security. Therefore, it is important for decentralized exchanges to continuously strengthen their security features for maximum efficiency.

Abiky

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Quote from: rokok lokal on April 01, 2023, 09:18:36 AM

If I can be sure for sure I don't think anyone has dared to recommend it yet but if you look at the developments about the Future of decentralized exchanges (DEXs) it looks promising as it continues to gain traction in the cryptocurrency industry.

With the recent secret FTX scandal, people are becoming increasingly aware of the risks associated with centralized exchanges (CEXs), and are turning to DEXs as a safer alternative. While Binance remains a popular CEX, the rise of DEXs like Uniswap and PancakeSwap heralds a shift towards a more decentralized trading platform. However, the success of a DEX will depend on its ability to address issues such as liquidity and user experience, as well as regulatory challenges.

My other opinion is that DEXs have the potential to provide a more decentralized and secure trading environment, and will likely continue to play an important role in the future of cryptocurrencies.

DEXs may be gaining traction, but that doesn't mean they will beat CEXs for good. That's because DEXs will be unable to fully comply with regulations due to the way they're designed (not to mention, they will always have lower liquidity than their centralized counterparts). Don't expect CEXs to go anywhere soon, especially when they're extremely useful for helping governments track & trace tax evasion, money laundering, among other illegal things.

The FTX scandal will become history as the crypto industry emerges bigger and stronger than ever. Who knows if CEXs will take other measures to help prevent another crisis from happening again? Juat my opinion

GNNcrypto

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Quote from: Crypt0Gore on December 08, 2022, 03:42:07 AM

Will decentralised exchanges get more attention now that FTX secrets is all out? Will people now trust decentralised exchanges more than centralised exchanges? Cos the only thing still standing tall right now is Binance, I believe this is the only CEX people still give full face 😂 but it seems like Uniswap and Pancake will take the lead in near future?

In my opinion, DEXs are going to be a big deal in the world of crypto. As more people start to catch on to the benefits of DeFi, I think there will be a lot more demand for DEXs.
Moreover, the technology behind DEXs is constantly evolving, and new advancements in blockchain and smart contract technology will likely lead to more efficient and secure DEXs in the future. As a result, I think that DEXs have a bright future ahead of them and will continue to disrupt the traditional financial system.

b3j0

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Quote from: Luffygroove on April 01, 2023, 11:46:45 PM

I think DEXes have their limitations and potential risks, such as high slippage and scam projects. CEXes also have their own weaknesses. So, I believe the future of exchanges lies in hybrid models that combine the best of both worlds. These exchanges could offer the security and control of DEXes along with the speed and liquidity of CEXes. This could be an attractive option for traders who are hesitant to fully trust either type of exchange independently.

and that is also one of DEX's weaknesses so far, we can even fall into fraudsters' traps due to scam tokens that can be exchanged on DEX which can have a negative impact on all assets in our wallet. so there's no point in looking for who is the best of the two because both of them have the same advantages and disadvantages

Weawant

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Quote from: JayTrain on March 13, 2023, 04:20:54 PM

Decentralized exchanges have been gaining popularity due to their transparency, security, and lack of central authority. While Binance is still a popular choice for many, the shift towards decentralized exchanges such as Uniswap and PancakeSwap may continue as users seek a more secure and reliable option.

The future of exchange in the cryptocurrency market has to be decentralized exchange and Binance themselves knows this that's why they went on to develop their own decentralized exchange and still working on improving it.

Centralized exchanges will soon get shut down by the government, they're just waiting for one big mistakes from the exchange like with FTX that was using customers funds for their personal businesses thinking they won't be caught.

Immediately they find something against this centralized exchange, they'll shut them down. Binance exchange is their next target and they're looking for a fault but so far, Binance exchange has been holding strong still decentralized exchange are the answers to all this regulations issues from the government.

slashz9

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will continue to grow and also the cex exchange will continue to exist too, ftx news may make cex's image bad but it will not make cex no longer in demand, the point is that both sides have advantages and disadvantages.

bussybuddy

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Quote from: Luffygroove on April 01, 2023, 11:46:45 PM

I think DEXes have their limitations and potential risks, such as high slippage and scam projects. CEXes also have their own weaknesses. So, I believe the future of exchanges lies in hybrid models that combine the best of both worlds. These exchanges could offer the security and control of DEXes along with the speed and liquidity of CEXes. This could be an attractive option for traders who are hesitant to fully trust either type of exchange independently.

That's not entirely true, either, if users have a lot of skills to appreciate what they're dealing with. Basically as a user I'll use all the platforms that are in my best interest, so in this market certain criteria that people set themselves as barriers to us being able to experience it better experience. When it comes to issues, it's important to look at their sides, not every downside, as we see how the market has changed positively over the years.

Luffygroove

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I think DEXes have their limitations and potential risks, such as high slippage and scam projects. CEXes also have their own weaknesses. So, I believe the future of exchanges lies in hybrid models that combine the best of both worlds. These exchanges could offer the security and control of DEXes along with the speed and liquidity of CEXes. This could be an attractive option for traders who are hesitant to fully trust either type of exchange independently.

ifarted

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CEX is more popular which I think is because of the known CEX today even though DEX there is a DEX since 2014 but still it cannot beat the popularity of CEX and volume traded on binance is not small so many people will agree that CEX is still used by many people regardless of what happen to FTX.

b3j0

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indeed the incident that happened to FTX had a big impact on the crypto world because FTX is one of the biggest exchanges. but personally I still use CEX more often than DEX because for trading purposes I prefer to use CEX because in my opinion trading using CEX is easier and easier to monitor prices. I use DEX only at certain times, for example when exchanging coins that I get from bounties or airdrop.

rokok lokal

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If I can be sure for sure I don't think anyone has dared to recommend it yet but if you look at the developments about the Future of decentralized exchanges (DEXs) it looks promising as it continues to gain traction in the cryptocurrency industry.

With the recent secret FTX scandal, people are becoming increasingly aware of the risks associated with centralized exchanges (CEXs), and are turning to DEXs as a safer alternative. While Binance remains a popular CEX, the rise of DEXs like Uniswap and PancakeSwap heralds a shift towards a more decentralized trading platform. However, the success of a DEX will depend on its ability to address issues such as liquidity and user experience, as well as regulatory challenges.

My other opinion is that DEXs have the potential to provide a more decentralized and secure trading environment, and will likely continue to play an important role in the future of cryptocurrencies.

coinerer

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Quote from: Crypt0Gore on December 08, 2022, 03:42:07 AM

Will decentralised exchanges get more attention now that FTX secrets is all out? Will people now trust decentralised exchanges more than centralised exchanges? Cos the only thing still standing tall right now is Binance, I believe this is the only CEX people still give full face 😂 but it seems like Uniswap and Pancake will take the lead in near future?

Dex always better then CEX. Depositing something at CEX means handing over your assets to someone else. So in this case no one can give full guarantee that your fund is safe. So dex is very good in this case and when you exchange a coin on dex it is exchanged and immediately returned to your non-custodial wallet. So I think it is much safer than cex. So I think the future of dex is will be very bright. Because big investors always like Dex a lot

Abiky

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Quote from: FirmWars on March 29, 2023, 12:50:16 PM

Decentralized exchanges will do well in coming years, people have seen how the SEC became a big headache for crypto exchange giants this year, the best time to switch for Decentralized exchnages is now, that's why projects like GMX, GNS, and others are growing fast In 2023, their TVL is very attracting, I recommend these two decentralized exchange if you are looking for a good one.

DEXs have their own set of issues, which makes them inferior to CEXs. I guess that's why the vast majority of people haven't considered DEXs as an alternative to centralized exchanges (CEXs). Developers are working hard to ensure DEXs become as comparable as their centralized counterparts in terms of user-friendliness and performance/cost-efficiency.

It will take years, if not decades, before DEXs are perfected for mainstream use. If development continues, DEXs might overtake CEXs in the future. Crypto land is often unpredictable, so expect the unexpected. Just my thoughts Grin

Topic: What's your opinion on the future of Decentralised exchanges (Read 1421 times)