The year is 2018, decentralized cryptocurrencies are slowly becoming commonplace, now competing with an outdated centralized system. However, this old system won’t go without a fight, as a lot of power and wealth has been built upon this system. World governments have been bought and sold upon this system, laws have been written and redefined to help protect this system. The system is fiat currency, ran by a select few individuals that control the majority of the world. For the first time in history, cryptocurrencies have become a threat to this system, controlled by the people, putting the power of the world, governments, and laws back in the hands of every individual that chooses to participate.
“The year is 2018, decentralized cryptocurrencies are slowly becoming commonplace,” – So why are we still transacting with them on a centralized system? The answer to that, up until now has been simple: Because we had to!
We believe that Decentralized Exchanges are the future, and completely necessary for autonomous commerce to happen.
First you may ask: What is a DEX (Decentralized Exchange)?
In short: A DEX (Decentralized Exchange) is a trading platform for cryptocurrencies that is fully decentralized. These exchanges work much like how torrents work on a p2p network. The client resides on your local machine, keeping you in full control of your coins at all time. There is no third party involved, no company that can be hacked, shutdown or otherwise compromised. When you are ready to make an exchange, you simply login to your DEX client, and exchange with another party directly.
Next you may ask: What are the benefits of a DEX?
A DEX Cannot:
Participate in insider trading
A DEX Can allow you to:
Retain control of your coins at all times
Protect your funds from hackers
Trade diverse coins
Its also important to note, from a performance standpoint, many exchanges have had a hard time keeping up with the growing demand of new customers. An added bonus of trading on a DEX is no server slowdown or downtime. There is simply no server to go down, as everything is done p2p.
With that said, below is a nearly complete list of Decentralized Exchanges, reviewed and sorted by their stage in development. While some of these exchanges are already live, the larger more anticipated projects are slated for release early to mid 2018.
2018 will be the rise of the #DEX.@wavesplatform@The_Blocknet@bisq_network@airswap@KyberNetwork@MothershipCX@bitshares@omise_go@RadarRelay@0xProject@loopringorg@CryptoBridge@BarterDex
Please add to this list. The more the better. #DecentralizedExchanges https://t.co/0I7VrVx6Ki
— Altcoin.io Exchange (@altcoin_io) January 27, 2018
Decentralized Exchanges (DEX)
– Open Source
– Light weight exchange; no blockchain download (Electrum servers)
– No hacks or thefts
– Privatekeys stay under your control
– It’s like a wallet with built-in exchange
– leaders in adopting what are called “Atomic Swaps”
– Decentralized Order Matching
– Universal Peer to Peer Exchange
All tokens issued on our platform will be available on our decentralized exchange and multi-coin wallet.
Through ‘BarterDEX’ technology we have developed decentralized orderbooks that initiate Atomic Swaps through light-weight Electrum servers. The result is a basis for a secure and universal decentralized exchange.
Not that great UI, needs improvement.
Coming on March 1st will be the much-anticipated decentralized exchange beta launch. The DEX dapp is an Electron app and will support Windows, Mac, and Linux.
Really nice UI, I like a lot!
Bancor liquidity exchange
Atomic Swap technology
Centralized vs decentralized exchanges
benefits of decentralized exchanges
1. Going bankrupt
2. Getting hacked
3. Offering little to no transparency
4. Operating on fractional reserves
5. Faking volume
6. Onerous KYC/AML requirements
7. Withdraw delays/holds
8. Participating in insider trading
9. Limitations and preferential treatment of coins added
10. Delisting & enlisting blackmail
11. Withdraw delays due to verification/KYC/security reasons
Protect your funds from hackers.
Retain control of your coins.
Trade diverse coins.
No hacks or server downtime.
DEXs are necessary for completely decentralized and autonomous commerce to happen.