As crypto hits the mainstream, more businesses and companies are joining the game. We've seen innovations from NFTs to security tokens, and stablecoins. Most of the coins being traded on the market have smart contract functionalities, making them multi-purpose platforms for real world use. While all of this sounds nice, there's been an increasing rate of centralized exchange dominance over the past years. Not only that, but alternative cryptocurrencies (altcoins) have been prioritizing convenience on top of decentralization in order to provide people with lower fees and blazing-fast transaction confirmation times.
I am not really sure if the centralization of the whole crypto currency space is really increasing in the last few years because i kinda have the opposite impression. I mean just look at that whole Defi topic i think projects that introduced this term and functionality to the crypto world were the main reason for the bullrun of 2020 and the first few months of 2021. Back then we saw platforms like Uniswap, pancakeswap and others becoming huge exchanges where most new tokens where launching and could be traded first. So in that regard i definitely think that the crypto space became more decentralized then it was in the years before 2020. Back then new projects had to pay huge listing fees in order to be listed on good exchanges which killed of quite a few good and promising projects.