Importance & Advantages of Decentralized Exchange: How
Bityaris Can Help?
Even before the importance of its innovative character, Blockchain carries with it an ideal: that of decentralization, which gradually builds the foundations of an open economy and allowing us to do without third parties to achieve any transaction. However, for the moment, the bulk of cryptocurrency trades are still off-chain, via centralized platforms.
More and more decentralized exchanges are opening the door to protocols that are much closer to the blockchain model, or even allowing online exchanges to carried out directly. However, can we always talk about decentralization?
What is a decentralized exchange?
Before defining a decentralized exchange, it is wise to recall the main characteristics of a centralized exchange. These are the online platforms make it possible to buy, sell and exchange cryptocurrencies and, for some, to be able to exchange currencies.
What they are criticized for is essentially to be vulnerable to privacy, to have control over all our information and to fragment the market by creating several small spots of small amounts of liquidity.
It is to address these problems that more and more decentralized exchanges (or DEX) have emerged and started to develop in recent years. More often some dozens of projects also appeared with a different decentralized exchange protocol. The particularity of decentralized exchanges is to allow users to keep control of their funds because all the critical functions are executed on the blockchain. The exchanges are thus more secure and more transparent, like transactions that we would pass directly on the blockchain.
Importance of Decentralized Exchanges
Decentralized exchanges have two main advantages:
By being trustless, they leave users in control of their funds and personal data. Everyone is the sole person in charge of their portfolio, as Satoshi Nakamoto imagined it at the beginning by creating the Bitcoin protocol.
The exchanges are secure and transparent, just as they are on the Blockchain.
DEXs also have the advantage of being better protected against regulations or threats of closure, since they have no central management.
On the other hand, contrary to what we tend to believe, decentralized exchanges are not all recent. Moreover, technology has also been able to mature to reflect the different expectations of users and traders better. Contrary to what we can believe, decentralized platforms are not necessarily all complicated to use.
Overall, decentralized exchanges, therefore, have significant advantages over centralized platforms. However, it does not seem useless to recall also their disadvantages, which are likely to slow down their adoption before certain points are improved.
Bityaris: Popular Decentralized Exchange Platform
Bityaris, the first self-sufficient cryptocurrency exchange in the world. It provides individuals with a complete cryptocurrency trading platform that allows traders to have an innovative and stable environment to trade with cryptocurrencies. At its core, Bityaris is developed to revolutionize the platform of exchange of assets based on three pillars– Innovation, Simplicity, and Sustainability.
How can Bityaris help?
The cryptocurrency exchange platform of Bityaris͛ incorporates a state-of-the-art correspondence algorithm that is capable of capturing and processing more than 2644 orders per second, which makes it one of the fastest exchanges in its initial phase.
Bityaris features:
It protects the data with the user's expectations and values their privacy
A system designed to protect and secure an individual's data from hackers
Any legal jurisdiction does not limit it. One of the most exceptional trade-matching algorithm. It allows multiple cryptocurrencies to trade in exchange simultaneously.
#bityaris #decentralizedexchange #innovation
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