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> since there’s no fraud protection you still need trusted third parties to broker any exchange where fraud is a possibility. The whole point of DEXes is that
by Tenoke 6y ago
> since there’s no fraud protection you still need trusted third parties to broker any exchange where fraud is a possibility.
The whole point of DEXes is that you dont need that.
>Similarly, you aren’t getting rid of trust: power recentralizes in a handful of users who control the most mining power and the developers
Maybe in ETH's case but highly decentralized non-mining networks already exist. Cardano for example is Proof of Stake and has rules in place where the more a pool has the less it earns so centralization is disincentivized.
- acdha 6y ago> The whole point of DEXes is that you dont need that. Okay, so if I sell you a new laptop and you receive a box with an old one, how do you get your money back? Do you have the option of reporting fraud and getting your money back even though I gave the promised good?