2020 - The Year Of Decentralization. Thoughts?

[GucciBoy]

What do you guys think? At the end of 2019, we've seen TONS of exchange hacks, and TONS of discussions on true decentralization, and it's advantages moving forward.

We've seen exchanges adding "staking support", making everyone not knowing the dangers of centralized exchanges victims of future exchange hacks.

Moving forward, I believe projects working to eliminate the  "middleman", making truly decentralized solutions and user friendly platforms to be  the best performers.

Blocknet is a good and promising project I've discovered lately, their DEX looks real promising: https://blockdx.com/, but their Xrouter which will solve the oracle problem is interesting as well.

There are tons of projects out there, this is just an example of a project that's worth following, imho 

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[jossiel]

I'm thinking of the opposite, hacks are always there even the early days of bitcoin. And that opposite is the year of  more centralization. It's speculated that institutional money is coming in and the idea of CBDC is already rolling so that's why I'm thinking about the other side.

We've seen exchanges adding "staking support", making everyone not knowing the dangers of centralized exchanges victims of future exchange hacks.

I think every staker is aware of that risk and they have thought about it but it's also understandable that some investors are confident because it was Binance and Coinbase that offers it.

[asriloni]

Agreed, and those projects are having big valuation but they were getting hacked caused by the security concern is not worth to follow just like vechain and that's totally overvalued as major coin with big valuation. I don't know how people are thinking like that these days.
Just try to see anything must be decentralized to avoid the security problem and many more. There are some dex are also worth to be followed by us and it's not only blocknet.
These projects are totally undervalued compared with those crap centralized projects.

[ecnalubma]

I wonder why DEX’s growth if slow compare to the CEX’s maybe because most traders don’t know how to use it or maybe they don’t like anonymity compare to CEX’s kyc. Maybe they didn’t find most features of an exchanges that they are looking for in DEX’s, but its a good practice if they utilise decentralised trading if they know the benefits of using it. Decentralisation needs big push only if regulators slow their pressure.

[Getmon]

The true year of decentralization happened when Bitcoin was created. That was the start of what we now revere as decentralization. Years after that, decentralization was already somehow reduced with the rising of custodial wallets, centralized exchanges, KYC, and so on. Decentralization has somehow fades.

There are a few decentralized exchanges. The problem is that the liquidity they offer are so minimal compared to the centralized exchanges. And that is the one reason why a lot of traders prefer the centralized ones.

[stomachgrowls]

What do you guys think? At the end of 2019, we've seen TONS of exchange hacks, and TONS of discussions on true decentralization, and it's advantages moving forward.

We've seen exchanges adding "staking support", making everyone not knowing the dangers of centralized exchanges victims of future exchange hacks.

Moving forward, I believe projects working to eliminate the  "middleman", making truly decentralized solutions and user friendly platforms to be  the best performers.

Blocknet is a good and promising project I've discovered lately, their DEX looks real promising: https://blockdx.com/, but their Xrouter which will solve the oracle problem is interesting as well.

There are tons of projects out there, this is just an example of a project that's worth following, imho 

There are already some good DEX out there like Bisq. I havent seen out this Blocknet though yet im not really that interested too much since majority do prefer on ending up on using Cex ones.

Until when we dont consider on utilizing or concerning about Decentralization? Of course this is what most projects is targeting out and this is what crypto main motive.There were lots of projects out there
trying out but it seems majority doesnt really mind much.

[3la9l_kolbaCa]

The true year of decentralization happened when Bitcoin was created. That was the start of what we now revere as decentralization. Years after that, decentralization was already somehow reduced with the rising of custodial wallets, centralized exchanges, KYC, and so on. Decentralization has somehow fades.

There are a few decentralized exchanges. The problem is that the liquidity they offer are so minimal compared to the centralized exchanges. And that is the one reason why a lot of traders prefer the centralized ones.

I don't see any good impact of kyc for bitcoin, since it wasn't providing any good effect to many trading sites. That true indeed, decentralization faded away because of those reasons, and now slowly taking more like centralized currency. If this certain things would came to be complicated at worst situations like kyc or whatever regulations, maybe Bitcoin and other coins still pumped amazingly.
Hoping this year would be changed as decentralization taking more potentials compared to traditional currency.

[AbuBhakar]

I wonder why DEX’s growth if slow compare to the CEX’s maybe because most traders don’t know how to use it or maybe they don’t like anonymity compare to CEX’s kyc. Maybe they didn’t find most features of an exchanges that they are looking for in DEX’s, but its a good practice if they utilise decentralised trading if they know the benefits of using it. Decentralisation needs big push only if regulators slow their pressure.

We can't deny that some features in cex are far better from dex, especially there are still people who needs assistance and needs to analyse the exchange features with a help of support system. Binance is still pretty good even they have dex version we tend to use the norm since we're used in using it already despite some hacking news in other exchanges. If dex will be built better then hopefully we can all shift to it.

[Ucy]

Blocknet is quite interesting but seems a bit complicated to use or learn. This is aspect discouraged me from learning more about the project. I put people who are not too technical in  my shoes before considering a cryptocurrency project. I think the complexity could scare off regular people.
Maybe if I have alot of time I will try to understand it better and see if there are ways it can easily be understood by others. Or maybe you could make things more easy.

[GucciBoy]

I wonder why DEX’s growth if slow compare to the CEX’s maybe because most traders don’t know how to use it or maybe they don’t like anonymity compare to CEX’s kyc. Maybe they didn’t find most features of an exchanges that they are looking for in DEX’s, but its a good practice if they utilise decentralised trading if they know the benefits of using it. Decentralisation needs big push only if regulators slow their pressure.

Transaction speed, ease of use, and a few other things is the main reason DEX's isn't mainstream just yet. Blocknet is releasing a multi currency wallet, making trading way easier for anyone wishing to try it out though, so "ease of use" is hopefully soon covered.

I've seen people talk about lack of FIAT on/off ramps, but ideally you can use a stable coin to get your crypto out in $$$.

[electronicash]

its not just the exchange that needs to be decentralized, we already knew how blocknet works and its cool to have it. but it won't matter if the tokens of the project we hold are centralize in a way.  right now the devs are having a dilemma of whether to go on for scalability while the trade off is the security and decentralization of the project so while we are not yet solving the scalability i guess the only that is really for decentralization is the exchanges which is why they to have the Defi.

[Ayiranorea]

More features were available with the blocknet, but how this gonna make things function flawless and in an effective way is still unknown. More and more exchanges have turned their focus towards decentralization, and the same hasn't attracted large users as well as there is no big volume. For some reason centralized exchanges are much preferred, maybe things can change in the future.

[jacafbiz]

If we are sincere with ourselves, only selected few projects in the space can claim to be decentralized, so the era of selling decentralization is over when most of the tokens are in the hands of the developers (greed). I don't think we will see most projects move towards decentralization because they need to be able to comply with regulation we saw Blockstack and also we saw IDEX exchange how things later turns out for them

[o48o]

What do you guys think? At the end of 2019, we've seen TONS of exchange hacks, and TONS of discussions on true decentralization, and it's advantages moving forward.

We've seen exchanges adding "staking support", making everyone not knowing the dangers of centralized exchanges victims of future exchange hacks.

Moving forward, I believe projects working to eliminate the  "middleman", making truly decentralized solutions and user friendly platforms to be  the best performers.

Blocknet is a good and promising project I've discovered lately, their DEX looks real promising: https://blockdx.com/, but their Xrouter which will solve the oracle problem is interesting as well.

There are tons of projects out there, this is just an example of a project that's worth following, imho 

It seems like everyone thought last year was going to be year of dex as well. Imho dex adaption is far longer process. The real public adoption takes time because newbs will always want a custodial services.

[Getmon]

The true year of decentralization happened when Bitcoin was created. That was the start of what we now revere as decentralization. Years after that, decentralization was already somehow reduced with the rising of custodial wallets, centralized exchanges, KYC, and so on. Decentralization has somehow fades.

There are a few decentralized exchanges. The problem is that the liquidity they offer are so minimal compared to the centralized exchanges. And that is the one reason why a lot of traders prefer the centralized ones.

I don't see any good impact of kyc for bitcoin, since it wasn't providing any good effect to many trading sites. That true indeed, decentralization faded away because of those reasons, and now slowly taking more like centralized currency. If this certain things would came to be complicated at worst situations like kyc or whatever regulations, maybe Bitcoin and other coins still pumped amazingly.
Hoping this year would be changed as decentralization taking more potentials compared to traditional currency.

KYC is dreaded by everyone except the government. I believe that even the centralized exchanges themselves which are the ones implementing very strictly these KYC procedures are not really in favor of it. It discourages many clients after all. But they do not have any choice at all because they are legally registered companies and business entities. They need to comply with the legal requirements asked from them and that includes KYC.

[Pelunize12]

Decentralized is the thing which we should get into. we already been too long in centralized system which makes many problems
hacking, stealing, controlling are what we see in centralized. Those can be avoided by decentralized system

But, in decentralized exchange hasnt worked well. it has lack of feature than centralized
such as no futures, stop loss, margin, etc. we have to make decentralized better in its system then we can change to it.

[crossabdd]

So far, centralized exchange has been chosen because it has many variations of coins from many platforms, the second is to have a large volume and choose coins with good volatility. while decentralization is only having 1 platform. I am personally waiting for DEX exchange which supports all platforms.

[alyssa85]

People say this every year - but they never move to a decentralised exchange because the Dex's don't have much liquidity.

If people want a Dex to work, they need to choose just one, and then do everything to promote it and make it liquid (including becoming market makers on that exchange). That's the only way they'll take off. Just launching a Dex and expecting people to use it usually results in nothing happening at all.

[Adriano2010]

I think we are still far away from decentralization, maybe will take more 5 years to happen and even then i don't know if will happen and most people will even then use centralized exchanges because is more easy to use them then to learn about decentralized exchanges.

[boris singer]

the problem with cex is that they are familiar with hacking attack activities, and conversely the problem with dex is liquidity and budget capacity. most of dex was closed in 2019 because they could not deal with regulations, this is also likely to happen in 2020. Nothing is certain at this time, and most importantly, how each exchange is able to maintain consistent performance that ensures users feel they remain comfortable using the services provided.