Topic: (Yes or NO) The 2020s belong to DEXs - page 6. (Read 5566 times)
In 2017 we couldn´t imagine that decentralized exchanges will ever overcome centralized exchanges in a daily trading volume. But thanks to UniSwap, it happened. Nowadays there are many UniSwap alternatives and new ones are created every day. I believe that in the future all people will move to DEXs, due to higher security, lower fees, and no KYC process.
Ethereum is the most popular blockchain in the cryptocurrency, so others could be out of topics. For trading I will always perfectly prefer to use centralized exchange but the legit one. Now whatever ERC-20 tokens you use in decentralized exchange, will cost you more than centralized exchange. Now I don't use Ethereum for any transaction without hold.
I was also surprised how quickly this decentralized exchange became popular and received huge daily trading volumes. First of all, the fact is that anyone can become a liquidity provider and earn money from it. The second factor in the growth of popularity was the use of this exchange by various protocols.
Unfortunately, only tokens of the ERC 20 format can be exchanged on Uniswap, but I have heard that developers are working on the possibility of exchanging coins of various blockchains.
Stakenet DEX has been working on exactly that. BTC/ETH swaps are working in its test groups. They use layer 2 (Lightning for BTC, Raiden for ETH) and bridging protocols to bypass the high on-chain fees and allow for almost instant tx as opposed to the slow on-chain transfer speeds you get from BTC and more recently ETH. Unfortunately, only tokens of the ERC 20 format can be exchanged on Uniswap, but I have heard that developers are working on the possibility of exchanging coins of various blockchains.
I know that several development teams are working on such swaps. At the moment, the main problem is the security of such exchanges.
If such a system would work successfully, then these exchanges will be much more popular than Uniswap.
For reference, doing LN swaps in October 2018 took a lot of setup, time, and know-how. Even for an expert, it took 30 minutes to demonstrate:
https://www.youtube.com/watch?v=vOjuSurGkLQ
LN swaps a year later, were much more straightforward. Swaps worked well, but setting up channels and exchanging funds was still involved:
https://www.youtube.com/watch?v=yLq7xIjf_hc
Here it is more recently swapping LN BTC (bought with XMR and sent from XMR.to LN) into LTC with one deposit.
https://www.youtube.com/watch?v=J8FraG0Hb2A
Layer 2 is great because the channels rely on the inherent security of the underlying blockchain. Combine that with non-custodial wallets that no 3rd party can freeze and the crypto world has a powerful weapon at its disposal.
Unfortunately for DEX platforms the majority of people prefer to sacrifice their anonymity to get fast and cheap trades.
Dex has been popular because they thought they were safer since they don't keep the seed address of the wallets but after what happened to Dolomite exchange I wouldn't say that again, Plutus defi was one of the hyped project but Dolomite.io got hacked and $PLT ico was a total disaster, so I prefer safety rather than SEX or DEX .
Decentralized Exchange was doing well and attracting many users until the hike in gas fee stroke. My trades was cancelled in IDEX because the minimum trade has been increased to 0.5 eth, from 0.15 eth which was the case before the hike. I had to withdraw my tokens and started using centralised exchange because I can't cope with the new regulations.
i think,centralized exchanges are easier to use, is famous and is regulated to be clean so beginners tend to use it first. Most exchanges don't ask for KYC so you create an account and you can trade. If DEX were to have an easier access too then it would be so convenient to use it. Don't be mistaken, DEX has a lot of potential, they just need more time and attention to at least be on par with centralized exchanges.
I guess Dex trading is not as familiar as it used to be, as time goes on most traders are not that interested in DEX exchange for some reason. but now I see UNISWAP rising again, many projects listed on the exchange UNISWAP, including the Defi project.
I don't think Dex trading is as familiar as it used to be, as time goes by most of the traders are not that interested in DEX exchange for some reasons. but now I see UNISWAP going up again, many projects are listed on the UNISWAP stock exchange, including the Defi project.
I was also surprised how quickly this decentralized exchange became popular and received huge daily trading volumes. First of all, the fact is that anyone can become a liquidity provider and earn money from it. The second factor in the growth of popularity was the use of this exchange by various protocols.
Unfortunately, only tokens of the ERC 20 format can be exchanged on Uniswap, but I have heard that developers are working on the possibility of exchanging coins of various blockchains.
Stakenet DEX has been working on exactly that. BTC/ETH swaps are working in its test groups. They use layer 2 (Lightning for BTC, Raiden for ETH) and bridging protocols to bypass the high on-chain fees and allow for almost instant tx as opposed to the slow on-chain transfer speeds you get from BTC and more recently ETH. Unfortunately, only tokens of the ERC 20 format can be exchanged on Uniswap, but I have heard that developers are working on the possibility of exchanging coins of various blockchains.
I know that several development teams are working on such swaps. At the moment, the main problem is the security of such exchanges.
If such a system would work successfully, then these exchanges will be much more popular than Uniswap.
I guess Dex trading is not as familiar as it used to be, as time goes on most traders are not that interested in DEX exchange for some reason. but now I see UNISWAP rising again, many projects listed on the exchange UNISWAP, including the Defi project.
I don't think Dex trading is as familiar as it used to be, as time goes by most of the traders are not that interested in DEX exchange for some reasons. but now I see UNISWAP going up again, many projects are listed on the UNISWAP stock exchange, including the Defi project.
Well uniswap and gazumped all other decentralized exchanges to an extent and now sushi swap has come in and taking the volume there and so does justswap. Definitely 2020 belongs to Dex.
I guess Dex trading is not as familiar as it used to be, as time goes on most traders are not that interested in DEX exchange for some reason. but now I see UNISWAP rising again, many projects listed on the exchange UNISWAP, including the Defi project.
As long as Binance has still the biggest volume, I would say still CEXes have the powers, money goes to safe places and if you see some exchange or bank got the bigger money in it you should know it is a safer place than others.
I don't think that you are right... Trading volumes are far from being an indicator of exchange reliability! The history of cryptocurrencies is full of examples of scam "reliable" exchanges! For example, MtGox, BTC-E... All of them once were reliable...
As long as Binance has still the biggest volume, I would say still CEXes have the powers, money goes to safe places and if you see some exchange or bank got the bigger money in it you should know it is a safer place than others.
moreover DEX have less fee in each transaction if compared with CEX especially uniswap now. besides trading volume Dex also have another advantages, some of DEX have insurance to cover worst case such as wallet hacking. I used to like IDEX, as well as Etherdelta or forkdelta for day trading. of course, the people on this forum are familiar with the exchange. but currently, I only use Binance DEX for day trading. But it does not last long. I think its popularity is not as popular as it was when a lot of tokens ended up migrating to the Binance blockchain.
idex was good cex exchanges , its take less fee than other cex and also idex have good trading volume. 
As long as Binance has still the biggest volume, I would say still CEXes have the powers, money goes to safe places and if you see some exchange or bank got the bigger money in it you should know it is a safer place than others.
I doubt that 2020 DEX will be able to beat CEX, because based on the data I saw on the coinmarketcap site.
CEX still has a higher volume than DEX, also the number of coins listed on CEX is still more. So CEX is still more
popular and is still widely used by traders, DEX still has a long way to go in order to beat CEX.
CEX still has a higher volume than DEX, also the number of coins listed on CEX is still more. So CEX is still more
popular and is still widely used by traders, DEX still has a long way to go in order to beat CEX.
But the presence of Uniswap makes a few changes, the way it works is the same as forkdelta so there is an increase in volume for dex, although cex is still far ahead for now, hopefully the dex platform will appear more next time.
You know Etherdelta was one of the most exoteric and favorable DEX. Most of the exchange is now fully centralized and required KYC, Sometimes KYC is very unpleasant, DEX will be very useful for those who do not like centralized exchange. Dex still has a lot of flaws and is a bit confusing to use. If these shortcomings are solved, people will be more interested in using DEX Network.
I used to like IDEX, as well as Etherdelta or forkdelta for day trading. of course, the people on this forum are familiar with the exchange. but currently, I only use Binance DEX for day trading. But it does not last long. I think its popularity is not as popular as it was when a lot of tokens ended up migrating to the Binance blockchain. since i don't use dex I find the names at the op unfamiliar, the only one that is making name to me is uniswap, I find many project using it and people talking about it, but as much as dex are becoming popular they are still no match to cex, the difference is very clear for now.
Its an old list. I was also surprised how quickly this decentralized exchange became popular and received huge daily trading volumes. First of all, the fact is that anyone can become a liquidity provider and earn money from it. The second factor in the growth of popularity was the use of this exchange by various protocols.
Unfortunately, only tokens of the ERC 20 format can be exchanged on Uniswap, but I have heard that developers are working on the possibility of exchanging coins of various blockchains.
Stakenet DEX has been working on exactly that. BTC/ETH swaps are working in its test groups. They use layer 2 (Lightning for BTC, Raiden for ETH) and bridging protocols to bypass the high on-chain fees and allow for almost instant tx as opposed to the slow on-chain transfer speeds you get from BTC and more recently ETH. Unfortunately, only tokens of the ERC 20 format can be exchanged on Uniswap, but I have heard that developers are working on the possibility of exchanging coins of various blockchains.
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You know Etherdelta was one of the most exoteric and favorable DEX. Most of the exchange is now fully centralized and required KYC, Sometimes KYC is very unpleasant, DEX will be very useful for those who do not like centralized exchange. Dex still has a lot of flaws and is a bit confusing to use. If these shortcomings are solved, people will be more interested in using DEX Network.
I have been using DEX for almost 3 months, I have had no problems so far, although there are some negative news related to DEX too. However CEX is still a priority.
Well I personally think these things comes down to personal choice and most people that use CEX equally do use DEX Mostly when a new coin comes into the market it start from DEX or AMM before finally going to CEX and the people that buys that first usually benefit more
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