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Paradex is a decentralized exchange that's built on top of the 0x protocol. DEXs are great because you can trade cryptocurrency pairs without trusting an inter
by iMuzz 8y ago
Paradex is a decentralized exchange that's built on top of the 0x protocol.
DEXs are great because you can trade cryptocurrency pairs without trusting an intermediary (think Mt. Gox for why this is needed).
This move shows that Coinbase is serious about building a decentralized trading platform (unless this is just an acquihire which would be very disappointing).
Really exciting news!
- joosters 8y agoIf there's no intermediary, what exactly have Coinbase bought?
- philfrasty 8y agoThere is an intermediary in 0x called a relayer (receiving relayer fees) that brings together both buyer and seller through e.g. an exchange UI. Just the transaction itself does not require an intermediary and is therefore not prone to counter party risk (of course if buyer and seller knew each other before they could just skip the relayer).
- iMuzz 8y agoSorry I was a little unclear in my comment. There is still an intermediary, they just never touch your funds.
- cbHXBY1D 8y agoSeeing as how Paradex isn't the most popular DEX and Coinbase's ties to 0x, I don't think this is an acquihire. This looks like they are actually going to use Paradex as a relayer.
- tstyle 8y agoOut of curiosity, why does “not most popular” imply higher chance of “not acquihire”?