what is decentralized exchange?

[alisaadat60]

Hi everyone
As you may know some exchanges ban some people because of their country or their states or some legal circumstances
Now some coins explain decentralized exchanges that claim they are completely decentralize and no limit in legal or state condition
completely no need for verification and no ban everyone.
one of the biggest one and more important of them is Waves, that claims they have a decentralized exchange with the fastest transactions until now.
1)what do you know about decentralized exchanges?
2)do you think they can replace of traditional exchanges?
3)how do you see the future of decentralized exchanges?

[Emperor of Man]

Waves decentralized exchange (DEX) is a strong feature and a big part of their platform. I like the UI, its low fees are tempting, being decentralized really really rocks, and the beta version is even better than the previous ones.

They just need to:

- Do some marketing. Their exchange has more volume than before, but it needs much more volume before it can compete with big exchanges like binance.
- Add some more coins and gateways. Right now many alts don't exist there and it mostly consists of waves tokens ...
- Be extremely careful with their security. We don't need something like etherdelta to happen with waves.

If these happen, waves dex will flourish! 

[Beerwizzard]

While sending your funds to centralized exchange technicaly the administration of this exchange have access to your money, some people think that spmeone can just grab their money and run away. While on decentralized exchanges stuff technicaly don't have such possibilities because private keys are not stored on their servers and people exchange their funds directly P2P with the other users.
Decentralized exchanges supposed to be more secure but for example Etherdelta was "hacked" not so long ago which makes me think that decentralization is not the solution for all problems. If the exchange staff pay necessary attention to cyber security then centralized exchanges gona be fine.

[deepcoreotc]

Basically its just that you have access to your private keys while in Binance for example you don't have control over the wallets.

[peter.from.penn]

I believe that decentralized exchanges will be important in the future.  Waves and Ether Delta are popular examples.  But decentralized exchanges have one fundamental weakness, and this is where Fiat meets cryptocurrencies.  Currently there is no way to buy cryptocurrencies with Fiat in a decentralized way.  Until this happens, the cryptocurrency market will be at the mercy of governments.

[setifien19]

1)what do you know about decentralized exchanges?

Decentralised exchanges are platforms whome administrators don't have access to your funds and data ( as any other things that are decentralised , there is not a third party between the buyer and the seller )
Read this article , it's really useful.

2)do you think they can replace of traditional exchanges?

They may .

3)how do you see the future of decentralized exchanges?

Bright

[Will.Smith]

There are still some problems with decentralised exchanges:
-low volume,
-high fees to pay smart contracts in ethereum. Bitshares is cheap and fast but there are no possibilities to create complex smart contracts,
-need more knowledge to start trading for newcomers than in centralised exchanges.

But overall I believe in this in the long term and using many of them already. They will be much more popular especially with technologies for scalabitily of ethereum like plasma or sharding.

[arlington]

In my opinion decentralized exchanges will not last too much because so many governments are taking their positions in order to regulate the crypto markets and if they do this there won`t be too much space for them

[metribitcoin]

Decentralized exchange in my opinion is mean exchange which the private key we own by self so we have full control with our money in that account. But currently decentralized exchange has lower volume than centralized exchange and for newbie trader think more complicated to trade here. And also only available some token to trade based in 1 blockchain only.

[Shirin16]

Hi everyone
As you may know some exchanges ban some people because of their country or their states or some legal circumstances
Now some coins explain decentralized exchanges that claim they are completely decentralize and no limit in legal or state condition
completely no need for verification and no ban everyone.
one of the biggest one and more important of them is Waves, that claims they have a decentralized exchange with the fastest transactions until now.
1)what do you know about decentralized exchanges?
2)do you think they can replace of traditional exchanges?
3)how do you see the future of decentralized exchanges?

Decentralization is a system in which overall decision-making is left to the users of the system and the absence of any individual who can impose his will on other individuals without the consent of the majority of system users.
When the Bitcoin protocol is decentralized, third party services such as Bitcoin exchange, Bitcoin wallet software, or other software that ultimately enable people to manage bitcoins and run centrally or decentralized.
this technology is a very good innovation, I think this technology will not be able to replace traditional exchanges but can only accompany it.
and I think seeing a good potential now, will be a supporting factor that this technology is more advanced and favored by many people.

[alisaadat60]

it's important for me as a user to know how much governments and others know about me
that's critical for security and tax
if decentralized exchanges make better exchanges and format then I certainly prefer them to traditional exchanges.

[Andrey123]

Decentralization is good!
But we can write anything and be completely sure of the truth, we can not.

This is the main disadvantage.
Today, the exchange is good, and tomorrow he will say send all the documents, otherwise we will block the account with all the money.
And it is impossible to fight against this.

[sarajahon]

A decentralized exchange is an exchange market that does not rely on a third party service to hold the customer's funds. Instead, trades occur directly between users (peer to peer) through an automated process. This system can be achieved by creating proxy tokens (crypto assets that represent a certain fiat or crypto currency) or assets (that can represent shares in a company for example) or through a decentralized multi-signature escrow system, among other solutions that are currently being developed.

This system contrasts with the current centralized model in which users deposit their funds and the exchange issues an IOU that can be freely traded on the platform. When a user asks to withdraw his funds, these are converted back into the cryptocurrency they represent and sent to their owner.

Here is some decentralized exchanges: OpenLedger Dex, Waves Decentralized Exchange, Stellar DEX

[buy_crypt_sell]

Decentralized exchanges are exchanges on which the money you own is held only by you. Decentralized exchange is not supported by anyone and your funds are always safe.

[boyprodn]

A decentralized exchange is an exchange market that does not rely on a third party service to hold the customer's funds. Instead, trades occur directly between users (peer to peer) through an automated process. This system can be achieved by creating proxy tokens (crypto assets that represent a certain fiat or crypto currency) or assets (that can represent shares in a company for example) or through a decentralized multi-signature escrow system, among other solutions that are currently being developed.
And we can trade for more ERC20 Token, Neo Nep5

[Aleister Crowley]

Decentralized exchanges aim to improve the liquidity of crypto-assets more transparent and secure than the centralized counterparts present in the market today.., providing security to its users more freedom to make every transaction without failing the system with a third / centralized person to facilitate easy and secure transactions with complete self-control.,, excellent innovation for the future and the highest level of security,., all the security within you no one else holds it...

[ChannaJay]

Hello,

A decentralized exchange is an exchange market that does not rely on a third party service to hold the customer's funds. Instead, trades occur directly between users (peer to peer) through an automated process.

There are some benefits of this decentralized exchange.

The most obvious benefit to using a decentralized exchange over a centralized one is their "trustless" nature. You are not required to trust the security or honesty of the exchange since the funds are held by you in your personal wallet and not by a third party.

Another advantage to the decentralized model is the privacy it provides. Users are not required to disclose their personal details to anyone, except if the exchange method involves bank transfers, in which case your identity is revealed only to the person that is selling or buying from you.

Thank you all.

[kolfedinew]

Hi, a decentralized exchange is a new way to change cryptocurrency. You will need no third party to interfere in this process. That's why it's safe, fast and easy for the users.
Moreover, you will avoid a lot of security checks. Only with money transfers

[Ranly123]

Hi everyone
As you may know some exchanges ban some people because of their country or their states or some legal circumstances
Now some coins explain decentralized exchanges that claim they are completely decentralize and no limit in legal or state condition
completely no need for verification and no ban everyone.
one of the biggest one and more important of them is Waves, that claims they have a decentralized exchange with the fastest transactions until now.
1)what do you know about decentralized exchanges?
2)do you think they can replace of traditional exchanges?
3)how do you see the future of decentralized exchanges?

Decentralized exchange are exchanges that transacts a p2p basis in which a user can directly trade their coins to other user without the use of a third party exchanger. In other words, your funds are much safer in decentralized than those of a centralized exchange.

[trespiclof]

Hi everyone
As you may know some exchanges ban some people because of their country or their states or some legal circumstances
Now some coins explain decentralized exchanges that claim they are completely decentralize and no limit in legal or state condition
completely no need for verification and no ban everyone.
one of the biggest one and more important of them is Waves, that claims they have a decentralized exchange with the fastest transactions until now.
1)what do you know about decentralized exchanges?
2)do you think they can replace of traditional exchanges?
3)how do you see the future of decentralized exchanges?

As you know there are 5000 exchange at the moment - more than 70% are illigal. Who knows when does it close or  will be forced toclose

As second you know centralized exchange is always not secure. When somewhere is concentrate lots funds ... there is always will to still it ( you know what i mean)

So in my opinion  I thing decentralizes exchange is posible between crypto-crypto.
If you going to exchange it into fiat you need pay fees, get through kyc and pay taxes - goverment will not give an opportunity to leave some spher without their glance