BTC Wires: It is quite a known fact that centralized crypto exchanges like Coinbase are easier to operate. But due to the involvement of middlemen, it turns out to be expensive. Contrary to this, non-profit projects like Ox allow developers to build their own cryptocurrency exchange quite quickly. Additionally, the developers get to decide their fees according to their own strategy. It is quite similar to the Craig’s List as it connects traders without holding back any tokens for itself. It provides a cross platform liquidity between the different projects that it powers along with its users.
The major issue is the user experience of decentralized apps, which quite clearly is uneventful and worse at times. The process of working with the decentralize apps is quite fussy and complex. Right from recovering to sign-in and process of conducting transaction gets tedious in majority cases. It is lot more complicated than using online platforms like PayPal, or Shopify. Also, quite clearly the prices of Bitcoin and Ethereum gets reduced to half when compared to their prices at peak because of the current state of cryptocurrency trading.
There are conference and panel discussions conducted globally on the topic as how blockchains can improve the world. But on the flip-side, until the decentralized infrastructure improves, the discussions would be mere discussions and not amount to anything substantial. However, Ox is bringing in some sort of continuity to the erratic patterns of decentralized trading infrastructure.
The Ox platform began initially as a for-profit exchange platform. But as the team came to terms with loopholes in the decentralized trading platform they transformed into a decentralized exchange protocol.
Many of the projects on Ox like Augur and Dydx are working effectively and cementing their place in the whole crypto trading scene. As per the latest announcement made by the Coinbase last week, they are giving thoughts on listing ZRX and several other currencies.
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