With so many cryptocurrency projects creating decentralized exchanges (DEXs) of their own, it’s reasonable to be skeptical about yet another. Today, cryptocurrency project Decred released an official proposal for its own Decentralized Exchange (DEX).
Decred founder Jacob Yocom-Piatt says frustrations with the listing process on large, centralized exchanges initially sparked his plan, but the Decred community will ultimately decide if a DEX is the right next step. While Decred may offer an alternative, will they be able to draw the liquidity missing from existing DEXs and meet regulatory concerns?
The Decred proposal outlines, “a new type of cryptocurrency-only decentralized exchange based on open source software that will allow cross-chain trading to occur directly between users, with minimal fees and a simple client-server architecture.”