Is Decentralization the future?

[Crypto_Potato]

There was this blockchain summit some days ago in Asia and one of the topics discussed was whether decentralization was the future of crypto and they actually did make valid points that backed it up and I think a lot of people believe in it.
If we think about it we have seen more and more people swap from CEXs to DEXs because it's decentralized and I think some exchanges are already recognizing this which is why a lot of them now have their own DEX and wallets. I even saw that some wallets owned by exchanges exceed wallets like Metamask in downloads

[Sarionadukecom]

There was this blockchain summit some days ago in Asia and one of the topics discussed was whether decentralization was the future of crypto and they actually did make valid points that backed it up and I think a lot of people believe in it.
If we think about it we have seen more and more people swap from CEXs to DEXs because it's decentralized and I think some exchanges are already recognizing this which is why a lot of them now have their own DEX and wallets. I even saw that some wallets owned by exchanges exceed wallets like Metamask in downloads

Judging from the the pictures, if seems a new sheriff is in town. Since bitget wallet launched bwb they've been on the spotlights. Their investment in ton ecosystem might also be a factor for their increase. The question is, can this momentum be sustainable??

[Wiseman]

There was this blockchain summit some days ago in Asia and one of the topics discussed was whether decentralization was the future of crypto and they actually did make valid points that backed it up and I think a lot of people believe in it.
If we think about it we have seen more and more people swap from CEXs to DEXs because it's decentralized and I think some exchanges are already recognizing this which is why a lot of them now have their own DEX and wallets. I even saw that some wallets owned by exchanges exceed wallets like Metamask in downloads

Judging from the the pictures, if seems a new sheriff is in town. Since bitget wallet launched bwb they've been on the spotlights. Their investment in ton ecosystem might also be a factor for their increase. The question is, can this momentum be sustainable??

I think that this trend of attracting users to decentralized exchanges through the social network Telegram is very promising and a lot of new people come to cryptocurrency and come across offers to use decentralized exchanges, and now they are launching exchanges inside Telegram, I think this is the next level of decentralized exchanges that will attract even more users and lure those who were on centralized exchanges.

[joniboini]

I can't seem to open the image successfully. The image is way too small and I can't see them without squinting my eyes unless I zoomed in. Is it possible for OP to fix that? Maybe rezie the image or upload it to another image hoster.

Anyway, related to the topic, I don't think Metamask download is a good metric to measure if people use DEX more often or not. I do agree that you can use that data to show that people like to control their money with self-custodial wallet more, but it doesn't mean they don't use centralized exchange to trade, swap, etc. CMIIW.

[MrSpasybo]

There was this blockchain summit some days ago in Asia and one of the topics discussed was whether decentralization was the future of crypto and they actually did make valid points that backed it up and I think a lot of people believe in it.
If we think about it we have seen more and more people swap from CEXs to DEXs because it's decentralized and I think some exchanges are already recognizing this which is why a lot of them now have their own DEX and wallets. I even saw that some wallets owned by exchanges exceed wallets like Metamask in downloads

The essence of crypto is decentralization: crypto is not centrally managed by any government. It exists on a blockchain, which operates in a decentralized manner on a global scale through POW or POS consensus mechanisms. I even believe that DeFi is an inevitable part of crypto and brings full value to crypto when users self-custody their crypto in personal wallets, participate in liquidity pools, trade independently, and pay gas fees instead of relying on the services of CEXs.

However, we cannot deny the role of CeFi in simplifying the process of entering the crypto market. The trading volume on CEXs is still many times higher than the trading volume on DEXs, and many investors prefer to buy and sell crypto directly on CEXs to profit and then cash-out to fiat. The shift of the crypto market towards decentralization is inevitable, but this process takes time, and CeFi will still play an important role in crypto.

[dkbit98]

It is good to have decentralization for some stuff but it should not be used for everything, unless you want to make things slow and non efficient.
Bitcoin is already decentralized and in combination with dex exchanges like Bisq and few others we can use this freely today, and there is no need to wait for some far distant future.

Note that not everything with ''decentralization'' label is actually decentralized.

[hugeblack]

However, we cannot deny the role of CeFi in simplifying the process of entering the crypto market. The trading volume on CEXs is still many times higher than the trading volume on DEXs, and many investors prefer to buy and sell crypto directly on CEXs to profit and then cash-out to fiat. The shift of the crypto market towards decentralization is inevitable, but this process takes time, and CeFi will still play an important role in crypto.

The reason for this is that those who buy cryptocurrencies for investment purposes and do not even withdraw them to their wallets. Therefore, over time, these people will find solutions such as ETFs and other indirect investment methods in Bitcoin. Unfortunately, we do not have a real decentralized platform, and all that exists currently are centralized bridges or P2P, you cant exchange  BTC --> altcoin without those options.

[Findingnemo]

Most of the current DEXs are not truly decentralised means they can be rattled by single point of failure or there's any obstruction from the authority. I agree decentralisation should be the future but we are still in the first steps of a long way to attain the real decentralised exchange platforms.

Meanwhile centralized exchanges are growing wildly even though there's lots of restrictions by government.

BTW, is this another Bitget shilling post?

[hugeblack]

BTW, is this another Bitget shilling post?

It also seems that the above infographic contains a lot of inaccurate information such as classifying EXODUS as a DEX even though it is a wallet that uses centralized third-party services. MM Also, I don't think we can take this classification seriously.

[JISAN]

Bitget wallet is my first choice to having a decentralized wallet. you can almost do everything in this one platform and they are bringing new features everyday. to grab attention everyone they are launching a lot of promotional offers.

I even recently I saw that they introduced P2P trading without any KYC. I think this will be a big move for decentralized exchange. cuz people literary afraid to lose their money in P2P trading if they do not have proper action if they got scammed. so that's why people are still using reputated CEX.

if we can utilize this thing in honest single DEX I think this is the future. cause they don't freeze your money. Even I saw a lot of people losing their own money without even having their consent.

[kulkhan]

Bitget wallet is my first choice to having a decentralized wallet. you can almost do everything in this one platform and they are bringing new features everyday. to grab attention everyone they are launching a lot of promotional offers.

I even recently I saw that they introduced P2P trading without any KYC. I think this will be a big move for decentralized exchange. cuz people literary afraid to lose their money in P2P trading if they do not have proper action if they got scammed. so that's why people are still using reputated CEX.

if we can utilize this thing in honest single DEX I think this is the future. cause they don't freeze your money. Even I saw a lot of people losing their own money without even having their consent.

Yes i am agree with you Bitget wallet is fantastic. We can do everything from Bitget wallet. We can use this decentralised wallet in different Network also.But i think it has a small difficulty for verification. I faced problem to verify. After longtime trying i has been successful and i able to verify my Bitget wallet.

And Bitget wallet regularly offering different promotional offer. I think Bitget wallet will more popular day by day I think gradually decentralised exchanger being popular and i think Dex will more popular in futures from centralized exchanger.

[bitcoin-shark]

Even if the CEX obviously have many more functions, options and fiat given the increasingly stringent forms of KYC that apply in my opinion the future and the DEX

[KingsDen]

The future of cryptocurrencies indeed lies in decentralization, this is what makes it different from the traditional banking system. Many users are now recognising the benefits of being in control of their assets and privacy without neccessarily depending on third parties to access what they hodl. In the future, lots of users would want to be in control. Some centralized exchanges have already realised this and are trying hard to adapt now before we get to the future.

[hugeblack]

The future of cryptocurrencies indeed lies in decentralization, this is what makes it different from the traditional banking system. Many users are now recognising the benefits of being in control of their assets and privacy without neccessarily depending on third parties to access what they hodl. In the future, lots of users would want to be in control. Some centralized exchanges have already realised this and are trying hard to adapt now before we get to the future.

Other than that the data in the table is intended to promote BG, I don't think that the stupidest platforms that claim to be decentralized are decentralized, as there is no decentralized platform currently, and the closest thing to decentralization is P2P exchanges, but bridges are not like that.

[_act_]

If we look into the pattern or trend of the present development in technology, most specifically under the financial economy, we are more going decentralized and there is more considerations towards the use of a digital currency in crypto than the way many have been tied to only the use of fiat in their financial economy, people now are getting the understanding and the need of being in charge of their finances, ever since the introduction of bitcoin which led to the opening of the eye on so many in realizing their right.