Gnosis’ Stefan George on Barriers to Adoption for Decentralized Exchanges
https://coincentral.com/gnosis-stefan-george-on-barriers-to-adoption-for-decentralized-exchanges/Stefan George is the Founder and CTO of Gnosis, a Gibraltar-based prediction market platform built on Ethereum. Gnosis is the second largest prediction market platform by market cap behind only Augur.
After acquiring an affinity for cryptography from Simon Singh’s “The Code Book”, Stefan realized that one of the best use cases for blockchain were prediction markets. At first, he decided to build on Bitcoin. However, after one conversation with Joe Lubin, Co-Founder of Ethereum, the team was convinced to make the switch.
Gnosis is also building a decentralized exchange (DEX), DutchX, to remedy problems inherent in both centralized and decentralized exchanges. By leveraging an auction-style trading model, DutchX removes the unfair advantage of miners known as “front-running,” and enables fairer price discovery mechanisms.
Stefan was a member of a panel on decentralized exchanges at Fluidity Summit that also included founders from of IDEX, Airswap, Ledger, and others. After hearing about the potential (and flaws) for decentralized exchange, I felt compelled to learn more.
So please enjoy this chat discussing barriers to adoption for DEX’s, and Gnosis’s strategy for solving these shortcomings.