Totle CEO on The Future of Decentralized Crypto Trading Exchanges
Totle not only supplies a one-stop remedy to holding crypto power portfolios but goes a far way to solving lots of different issues. Liquidity is dealt with, together with the end result of guaranteeing order fulfillment and also the capacity to repatriate currencies in the leisure of this end-user. Further, safety is addressed as Totle only incorporates with decentralized trades. They are planning to launch their own decentralized exchange (DEX) within the next two years.
Future Of DEXs
Blexnak cautioned that the more decentralized a crypto exchange becomes, the more issues it faces in terms of control and fair play, saying: “In order to have a fully decentralized and fair system, you need some sort of protocol or some sort of consensus mechanism to allow users to participate in a way where they know orders will be matched in a fair fashion.”
In traditional financial markets, this refers to brokers who mint profits using their advanced knowledge before other traders have been given the same information. In the cryptoverse, Bleznak explained, blockchain gives priority to those who are willing to pay more, enabling them to make trades in a quicker fashion on crypto exchanges than those who can't or won't pay for those high fees.
However, Bleznak is optimistic that front-running will soon be a thing of the past. “The markets will speak for themselves – the markets will exclude those who don’t play fairly and they will promote those who do.”
Totle at present only partners with crypto exchanges that are truly decentralized, aggregating them to offer users a one-stop shop for all their crypto trading needs.
Bancor Security Breach
A couple of weeks back, a wallet used to upgrade some smart contracts was compromised on the Bancor crypto exchange. It was then used to withdraw Ethereum [ETH] tokens worth $12.5 million from BNT smart contract. The event sparked controversy when the exchange froze the stolen BNT tokens once the theft was identified.
Bleznak said, “If Bancor was more decentralized, then the risk of such an event [freezing funds] would be lower. Their architecture, which by definition may be decentralized by allowing users to individually execute their contracts, is centralized in the fact that the liquidity sits in a centralized location within the contract.”