Bithumb is one of the largest crypto stock exchanges of South Korea. Now, the company announces the Launch of a decentralized stock exchange.
Decentralized Exchanges are all the rage. The idea to host exchanges on a Central Server, brings some interesting advantages:
For one, there are significant regulatory differences between the various States. This complicates the Expansion of crypto-exchanges across national borders, as companies need to bear in each country, different requirements. The regulation of decentralized Exchanges is, however, more difficult. It is in the nature of things, that decentralization leads to the fact that no operator can be made. This could accelerate the international Expansion of the trading places is crucial.
On the other hand, the level of security of decentralized Exchanges is higher than that of classic exchanges. Since centralized crypto stock exchanges act as a Trustee, trade Token, Wallet-Hacks to the total loss of the stored Coins. This is a serious concern of investors, show Mt past thefts in Zaif, Coincheck, or “good-old -.Gox“. In contrast, decentralized trading venues against Hacks that are largely immune to, because it has no Single Point of Failure . Smart Contacts ensure that the User of your crypto Assets directly on a Blockchain can act. The management of tokens is not longer the responsibility of the Exchange; it merely provides the trading infrastructure. Thus, traders can save the way through middle men and can directly communicate with each other in the trade relationship.
What is Bithumb DEX?
In June Bithumb fell a Hacking attack to the victim. According to reports, up to 31 million US are lost in the process, Dollar. This could have been an occasion to reinforce the ambitions for the development of a decentralized Exchange.
According to the spirit of the times also Bithumb DEX plans to save all of the Assets and transactions on-chain. The company advertises on its Website, with the associated safety and promises the highest possible transaction volume thanks to the Relay Service Technology. Users are able, regardless of the whereabouts of crypto-currencies trade directly between their Wallets. This Bithumb DEX can also integrate users outside of Korea, and generated a lot of growth potential.
In the competition for the market leadership in terms of decentralized crypto-exchanges Binance in position. In March, the company announced the step in the decentralization. The start time of Bithumb DEX, nothing is, however, known. It should be an exciting race.