Thread
1/4 I've discussed my thoughts on DEXes future with @Cointelegraph
I envision thousands of small P2P nodes/matching engines, each run by separate groups, resulting in a fractal liquidity aggregation model.
1/4 I've discussed my thoughts on DEXes future with @Cointelegraph
I envision thousands of small P2P nodes/matching engines, each run by separate groups, resulting in a fractal liquidity aggregation model.
2/4 current DEXes are exciting but just temporary solutions
Few of the issues
- single managed smart contracts
- single governance group / token
- no KYC
- slow
- highly dependent from a single chain and its fees
- faster blockchains are more centralised
....
Few of the issues
- single managed smart contracts
- single governance group / token
- no KYC
- slow
- highly dependent from a single chain and its fees
- faster blockchains are more centralised
....
3/4
More issues
- while a blockchain is "decentralised" and made by many nodes, the contract is uniquely identified by a hash, hence centralised around a single group in the eyes of regulators
- can suffer of different types of hacks, still single point of failure
More issues
- while a blockchain is "decentralised" and made by many nodes, the contract is uniquely identified by a hash, hence centralised around a single group in the eyes of regulators
- can suffer of different types of hacks, still single point of failure
4/4
Unstoppable DEX: P2P (mix of BitTorrent and Lightning Network, thousands of small exchanges / books / ownerships / deployments), direct TCP/IP networking model (no blockchain transport layer), blockchain settlements, hubs are just data/book aggregators
Unstoppable DEX: P2P (mix of BitTorrent and Lightning Network, thousands of small exchanges / books / ownerships / deployments), direct TCP/IP networking model (no blockchain transport layer), blockchain settlements, hubs are just data/book aggregators
