In this clip from Chain Chatter, we talk about DEXes vs CEXes and the evolution of Decentralized Exchanges.
I personally believe that Centralized Exchanges will always have a role. No matter where you look or what industry you examine, there will always be some gatekeepers left.
That being said, I think CEXes will play a smaller and smaller role as time goes on. The future is in Decentralized Exchanges - DEXes - that are continuously innovating on all fronts and making it better and easier to be a "customer".
Right now, the DEX User Experience isn't great but it is 10x better than it was just 2-3 years ago.
In the next 2-3 years, I think it will get far easier. Platforms like Thorchain are making the backend for DEXes far more robust while platforms like Shapeshift are making the frontend user experience far simpler to use DEXes.
We're on the cusp of a massive turnover in this industry and I'm excited to see where we land over the coming years.
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Is is possible to convert cryptocurrency into any Fiat currency or then withdraw it to banks on decentralized , can we also do P2P trading on decentralized exchanges if yes please share the name of exchange?
Makes sense. Transparency is key to development. Users need to know how their fund is stored and if there is enough solvency in the system.
This is a good program. Lots of good information and knowledge. The crypto space moves very fast so this historical perspective is good.
Decentralized exchange will evolve but it is a gradual process because what is good normally takes time
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As the easiness and friendliness of DEXes will increase over time I think we will see a migration of people towards them against staying on CEXes. The advantages the CEXes have for now are that are easy to use and transfer money in and out. But soon that will change.
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Kudos boss, you are actually doing a great job to keep the community alive. Kudos to you
Yes slowly the things are getting better but Decentralized exchanges are still behind than Centralized exchanges and big reason is features and they are easier than DEXes. Big feature that I want to talk about is P2P and fiat deposit/withdraw. Every single CEXes providing this service. We'll see things change and this is much needed because decentralization is the future.
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