Post
Topic
Board Altcoin Discussion
Re: What's your opinion on the future of Decentralised exchanges
by
Abiky
on 09/01/2023, 11:04:17 UTC
I am not sure if people will prefer to use Uniswap or PancakeSwap in the future. I believe people won't stop to use top CEXs like Binance, Kucoin, Coinbase, or Kraken because they have good features for trading and have big volumes as well. But people will be more careful to manage their tokens, they probably won't keep their coins on CEXs for a long time anymore. They are aware that keeping coins on CEXs is high risk, CEXs can have a problem at any time. They can't secure their coins because CEXs that have a full control to the coins.

DEXs are too complex for an average person to get ahold of, so don't expect CEXs to go anywhere soon. People will just be more careful when depositing their coins in a centralized exchange. I'd expect CEXs to be required to disclose their reserves by law (Proof of Reserves) to gain investors' and traders' confidence. It seems to me that CEXs will be treated more like financial institutions (banks) after what happened with FTX lately. This means tighter regulations that will make both the exchange company and the customer's life impossible. There's nothing we can do about it, especially when we let Wall Street take over the industry for quite some time. Crypto/Blockchain tech will be driven away from its core principles of decentralization because of this.

DEXs will still exist in the future, but the number of people using them will be very small compared to CEXs. They will have a future as long as developers continue to improve them. Long-term speaking, DEXs will be able to live alongside CEXs allowing people to choose which platform to trade based on their needs. No one can predict the future, so we can only hope for the best. Just my thoughts Grin