Title: Why Centralized Exchanges Launch Public Chain Post by: Trcream on June 14, 2018, 05:19:57 AM With centralized exchanges occupying the top three positions in the industry and giants splitting market share, new players are still entering the crowded exchange track. Among them, decentralized exchanges are placed lots hope, and many startups wish to extend the market on this direction.
Compared to centralized exchanges, the decentralized exchange code is open source, the rules are open and transparent, and there is no moral risk of exchanges; at the same time, the wallet is controlled by the user. There is no risk of coin loss due to the exchange being attacked. Although “this imagination looks beautiful," the fact is that its liquidity is less competitive than a centralized exchange, and it is not as satisfying as it is in security and user experience. The smart contract system itself is not perfect and there is a risk of being hacked. Plus, for most users, they prefer save their assets in the big exchanges with brand guarantees, not saved by themselves. There is a lack of fiat currency channels, complex operations, and non-matching transactions. There are also some "anti-human" experiences. After all, users prefer the simple operation of “Don't Make Me Think". According to media statistics, there are currently more than 1,000 global digital currency exchanges and less than 5% of them are decentralized exchanges, which only account for a small market share. But what is interesting is that the giants of centralized exchanges, which are clearly in an absolute position, have decided "to make their own competitive products" in order to prevent them from being eroded by others. This is a spontaneous self-subversion. In March this year, Binance announced that it will develop a public chain to build a decentralized exchange. Binance believes that in the near future, centralized exchanges and decentralized exchanges will exist at the same time. The two sides will complement each other and jointly undertake the transfer and transaction of blockchain assets. Two months after the Binance declared its intention to build a public chain, the public-chain plan for Huobi also came. "The future world is very likely to be an autonomous system in place of a company. If this form arises, we hope that it will be guided by us, not the last one that is replaced.” People will always paint a seemingly unattainable or idealistic blueprint for new technologies. At the time of the Internet, it was said that it could connect everything and bring about equality. Artificial intelligence technology would liberate human labor force and make people fear that machines would rule humanity. Same imagination happens to blockchain. “From a distance, the dream of the entire blockchain industry is autonomy.” Chen Guang said that in a blockchain autonomy organization, it may still be the same group of people operating an exchange. It may just the incentive mechanism is not the same. Li Lin also hopes that Huobi will survive in the future by itself.” However, since we want to seize the future of the public chain, we must prepare to subvert ourselves. In a business society, it's definitely not only you to subvert you. Any company that hopes to have a long-term foundation will need to "subvert itself." Only the speed of the rise and fall of the company is accelerating. The linear increase in productivity has increased efficiency, accelerated the arrival of the next era, and shortened the life cycle of a company as well. In the traditional industry, this world still has a hundred-year-old shop. In the Internet world, the rate of iteration of time controllers has accelerated. Nokia's Saipan phone was the dominant player for 10 years and was eventually replaced by Apple and Android. Google, which was established four years after Yahoo! had served as its supplier, eventually made Yahoo sell itself. In the blockchain world, this unit speed will only be faster and you will have no time to prepare. Huobi spent less than two years and already be the top three. While Binance has become the largest in the world within a few months. Since then, practitioners who have entered also dream of the same overnight riches and subversion. Looking forward, the next opportunity will come, and they will naturally become "the next Binance." The Nasdaq once was also satirized as exchange of "junk shares”. In this world, what subverts you is often what you once looked down on, and the ”grassroots giants" are more profound than anyone else. The future goes faster than your expectation. For more information about the DAGT project: Website:http://www.dagt.io Telegram:https://t.me/DAGTofficial Facebook:https://www.facebook.com/DAGTofficial/ Twitter: https://twitter.com/DAGToffcial |