Vitalik Buterin has shared his high concern about cryptoexchanges that use centralized approach in their business operations. He stated that it is extremely difficult to implement decentralization, as one always has to encounter the world of fiat currencies open merely to centralized methods.
Buterin has also suggested that the process of exchanging digital currency will increase the necessity of implementing decentralized cryptoexchange solutions, due to offering easy and direct UI that enables anonymity among other things. This will incite an emergence of lots of such exchanges in the cryptocommunity.
Nevertheless, Buterin admitted to be unsure about what to predict in terms of major and frequent traders’ future preferences. In his opinion, even if the centralized cryptoexchanges stay in the market, the DEX solutions will become a positive change and bring decent competition.
Previously, the top-1 cryptoexchange on the globe, Binance, revealed its intentions to establish a DEX solution of their own. Another major exchange, Huobi, has also declared for switching to a decentralized approach in the future.