/biz/ - Business & Finance

you were warned
https://www.youtube.com/watch?v=cQLFQkIkRLA

>>24640419
The exchange of different assets between two remote 3rd parties has long-required either some sort of custodian to act as an intermediary or a potentially-unreliable pact of trust since ancient times.
As pioneered by Bitcoin itself, the blockchain allows for a "trustless" and cryptographically auditable P2P exchange of one particular asset (i.e. Bitcoin as P2P cash).
CEXs, which arose primarily as fiat ramps, are the direct antithesis of everything that Bitcoin stands for. They are not secure. They attempt to retrofit Bitcoin into the legacy system that Bitcoin seeks to destroy by instituting KYC/AML policies. They are custodial and run on an easily-exploitable honor system that has invited exit scams.
Crypto-to-crypto fell prey to the broken, vulnerable, honor system honeypot nature of CEXs.
A proper DEX solution - an exchange that is as secure and as trustless as Bitcoin itself and honors it's cypherpunk essence - has been sorely desired for ages.
HTLCs and atomic swaps were a major breakthrough in the earlier days of DEX technology that allowed, finally, for an exchange of one particular asset (BTC) for another (LTC).
Excellent, but with a catch...
Early DEXs, however, were largely inaccessible for 99% of those in crypto. Being totally decentralized, they not only required you to download multiple blockchains, but made you wait for someone else who downloaded multiple blockchains to fill your order. There was no central liquidity. Since there was no central liquidity, there was little incentive to go to all the effort involved in setting up a DEX environment.
Making matters even more confounded is the issue of interoperability. Different chains, different programming/scripting languages. Therefore, each "bridge" between a different blockchain has to be bespoke, so to say.
Uniswap has made some great strides in building a community and using Ethereum's blockchain along with wrapped assets to create a sophisticated on-chain DEX.

1/2

AHAHAHAHAH REFUTE THIS STAKETARDS
https://www.youtube.com/watch?v=5d16gRyIoy0

>>20068089
>>20068251
Don't forget about EPOS.
https://medium.com/stakenet/exertive-proof-of-stake-epos-4a999807f9e4