Quote from: pooya87 on June 08, 2019, 03:49:49 AM

Quote from: DdmrDdmr on June 07, 2019, 08:54:10 AM

~
When you add it all up, youve really got to ask yourself just how much DEX is really behind some of the market DEXes.

it is the same as centralized altcoins. XRP, ETH, BCH, BSV, .... can call themselves "decentralized cryptocurrency" as much as they like but in the end they are centralized and no facts can change.

Binance DEX is much worse. For instance, Ethereum DEX transactions (on IDEX or EtherDelta) are secured by proof-of-work and traders truly control their own private keys.

On Binance DEX, Binance literally runs all the validators. There is no decentralized consensus as with proof-of-work mining. Binance also holds custody of all the assets -- every asset trading on the DEX is just a token issued by Binance. Traders don't hold private keys to real coins, just fake paper assets. This is no different than a regular centralized exchange. It's a gimmick.

Sure, Ethereum's development process and DAO fork three years ago may lead one to call it "centralized" -- especially compared to Bitcoin -- but these are truly apples and oranges. Plus, Ethereum obviously can't even hard fork to recover the >500K frozen Parity/Polkadot ether, so I'm not too concerned about a repeat of the DAO fork. Those days are probably over.