It is July 2018, and Vitalik Buterin thinks centralized exchanges “can go burn in hell as much as possible.” Even then, those were strong words. The co-founder was nuanced in the same interview, acknowledging why it is harder for users to exist in purely decentralized or centralized systems.
There are some problems. It makes sense to prefer exchanges. But it is also illogical. It is necessary for a person to decide on his own scale.
But the exchanges will not be over yet. People don't bother throwing money in the wallet and making transactions. Especially since it is impossible without solutions to it yet.
I have about 5 years. Worst case scenario. Of course, these are my thoughts. But if there are no exchanges, then some stones will not be replaced.
Thanks for the article.
Have a nice day.
When I finished reading the article, I couldn't come to my senses for a few seconds. It was an informative article for the future of crypto, I think these will come to mind when I invest.
Justice and equality cannot be possible in a system that is centralized and the person in the center is aware of his/her power. DeFi is a very important opportunity for us and the future of crypto is DeFi itself. There are many DeFi projects that I am interested in and use and I am happy. DeFi for justice and freedom!
I think that CEXs are critical to onboard new people into the DeFi world. A DeFi onboarding solution would be a good next step. I can see that solution causing the CEXs to "burn."
Centralized exchanges are the start-ups for new users, this is a fact. However, DeFis are the future of these users.
This reminds me of smart stores, where you can enter and gather the stuff from inside without interacting anyone then go out and the bill will be paid through your credit card automatically. Why would someone prefer to interact with the cashier, wait for the line and spend more time doing all these? Everything is faster and safer in decentralized way.
DeFi became popular thanks to Ethereum network, but users started to suffer due to the scability problem you mentioned. Layer 2 networks are trying to present a solution. However, this doesn't mean DeFi has to continue its popularity where it started. There are many new networks following the footsteps of Ethereum and trying to improve what Ethereum did wrong. So-called Ethereum killers can achieve more of this DeFi madness. I think Avalanche is doing great in that way.
One thing for sure: DeFi is the future of crypto, and it doesn't seem like this madness will end in close future.
I don't think CEXs will ever burn, they're the easy way in. For sure more and more people are starting to use decentralized alternatives but there's always gonna be a place for CEXs. I think both can coexist quite nicely.
Hyped on this !