Decentralized Exchanges (DEX) Are Soon Going To Explode In Popularity, Says Cobra Of Bitcoin.Org
Cobra, Co-owner of Bitcoin.org and Bitcointalk.org, has always been very vocal about his views on other cryptocurrency projects. He recently said that decentralized exchanges are going to gain momentum.
Decentralized exchanges are going to explode in popularity very soon. 2018 was the year of stablecoins which was the last step to make it possible for DEXs to interact with fiat. Coming regulation, burdensome KYC, exchanges being seen as "kingmakers", all will push users to DEXs.
— CØ₿RA (@CobraBitcoin) April 19, 2019
DEXes solve the security problems of centralized exchanges, which take custody of users’ assets and match trades behind closed doors. DEX is defined by self-custody and transparency, empowering users to control their assets without a middleman. They should know their assets are safe and the matching of trades is fair. A completely anonymous and unregulated system would prevent these advantages reaching the majority or private or business users since it would have a questionable legal status. Most DEX interfaces are neither simple nor intuitive. Poor user experience plays a major role in explaining their limited adoption and growth.
Decentralized exchanges don’t require any sign-up, KYC, identification uploads, nor do they require you to send your funds to their platform – making them non-custodial. Even the Ethereum-based Maker/Dai stablecoin can be bought on DEX’s, possibly numbering Tether’s days as the prime dollar-peg.
Earlier this month, CZ, the Binance boss, revealed – during a speech at the Deconomy conference – that the Binance decentralized exchange (DEX) would be launched later in April.
— Binance (@binance) April 4, 2019
Cobra recently accused square crypto of pandering to bitcoiners to promote Cash App. Cobra went on with the attack stating that “liberal elites don't like things they can't control” and that bitcoin is against everything Dorsey stands for. Cobra goes on to say that Jack is no Bitcoiner and will never be.
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