Let’s talk decentralized
Being decentralized — the latest worldwide trend — continues gathering followers and dictating the evolution of the Cryptocurrency ecosystem. But the decentralization is not just a fashion trend not either a buzzword. It is something far more deeper — a whole new perception, even bolder — a new culture of thinking, earning, spending, communicating, living.
The blockchain technology give us the opportunity to resettle the world that surrounds us in a more transparent, fair and independent way. It is a rebellion, a revolution against the current hierarchical system, full of authorities, institutions and bureaucracy. Do you feel already a bit like Washington, Jefferson or Martin Luther King? Well then, it is time to slow down. Keep that fire but first let’s do some real job. At first place let’s learn how to think in a fully decentralized way.
“The Blockchain” — the system that underlies the famous and beloved Bitcoin, declared one thing — independence through decentralization. We all know from history that nobody is fully satisfied unless the independence is achieved in its wholeness. In our case this means the system should be entirely decentralized. There is no place for some kind of semi-forms and fake models. The whole idea behind blockchain is to avoid centralization and to introduce decentralization via technology. And then, we trade all decentralized assets in a centralized place? That doesn’t make any sense and isn’t logical. It is so wrong to save decentralized assets on a centralized place during such a crucial process as trading.
That is why it is time to say “hello” to our most powerful weapon along the way of revolution —decentralized exchanges also known as DEX. Cryptocurrencies cannot achieve their ideological purpose of decentralization without decentralizing exchanges.
Centralized exchanges are still very popular and used on everyday bases (even every minute) for trading. They are easy to use, accessible and rich of all kinds of existing tokens but let me repeat once again — they are centralized. It means you do not hold the control of your assets, you pay fees to trade, you have to involve and trust a third party, you have to stick to their policy, you have to reveal your identity and provide personal information. On top of that your assets are not insured against hack attacks, downtime and governmental limitations. Doesn’t it resemble to you of something well known and extremely irritating? That is right — the traditional bank model, which requires huge fees for managing and storing your money. Therefore,the single biggest point of weakness in the crypto ecosystem are these centralized exchanges.
Let’s go back to the roots of blockchain philosophy. Using cryptocurrencies means being your own bank and taking care of your own funds. Then why we keep using centralized exchanges where our own money slips away of our own hands and become a tool in the hands of unknown custodians? Becoming a client of centralized exchange equals to jeopardizing the whole theory, the whole holiness of the blockchain functionality. Some people may find centralized exchanges as an attractive way of giving away the responsibility of controlling their own money. Well fellows, that is not the right motivation when heading to the bright world of cryptocurrency. It is not even a motivation at all. It is a tragic irony for these well-developed and yet evolved decentralized currencies to go back and fall prey to centralized exchanges… Designing a decentralized systems follows an ideology that eliminates all sensible reasons to store assets in a centralized exchanges.
The pure logic of the decentralization leads us to our most powerful weapon- DEXs. This will be the break point where the final shift of power from central authorities to non-hierarchical and peer-to-peer structures will take place. The main aim of all DEXs is to keep your own assets under your own control and to eliminate every even slight chance of losing your assets. The transition from centralized to decentralized exchanges is a historic evolution which takes time, efforts and knowledge. All DEXs are trying to eliminate the limitations of their predecessors — the centralized ones. However, some of the DEXs are performing relatively well the others not so much.
What is WeiDex?
Here is an innovative and ambitious project that will eventually lead us to the right path. WeiDex is a newbie but much more gigantic in its perception craving for decentralization. Its main goals are first of all to create decentralized ecosystem where every operation is absolutely secure and risk free and second to outperform its competitors by implementing functionalities and features never seen before.
How the WeiDEX guarantee full decentralization and independence?
1. It eliminates the third-party service and the trading occurs directly between users. This is all being possible due to the smart contract and the automated process that it provides.
2. Decentralization means no central hub, no central authorities — Instead of uploading data into a cloud server in order to store it in a single location, WeiDex will break them into smaller chunks and distribute them across computer network since it is a digital ledger that is not controlled by any central authority. Hence the entire operation will not result to any data loss.
3. It gives full security — no downtime, zero chance of being hacked, full transparency and open source logic. Due to the lack of centralized hub the system cannot be overloaded with user requests.
4. Absolute anonymity — does not require any personal information, not even an email.
5. Initial Exchange Offering — WeiDex can be also used for initial token distribution. If you issue a new token, we can list and distribute your token, following your own rules. The whole platform encourages “out-of-the-box thinking” and creative initiative.
6. Cross-chain transactions — we are bold dreamers and embrace every innovation which makes the blockchain even greater. Cross-chain transactions are our priority and we are not going to stop until we make them reality within the WeiDex environment.
7. Referral System — invite a friend and 20% of their exchange trading fee goes to your wallet. The number of users you invite determines the number of bonuses you will receive.
8. Low fees — you will only be charged little or no amount thereby making you deploy a payment service of your own. Even more, after a certain amount of volume is reached, there will be no fees. For example if the daily exchange volume reaches 1000 ETH, then all trades will be completely free for the rest of the day.
9. Multiple order fulfillment — you can set an order for a certain amount and our smart contract will make sure to take as many orders as needed to fulfill your request, while you get charged for just one transaction.
10. WeiDex Token (WDX) — provides plenty of benefits and opportunities such as 50% lower trading fee and much more.
11. Absolutely transparent distribution and allocation — making the users witnesses of how the funds are spend.
12. User-friendly interface — one of the biggest disadvantages of all existing DEXs is the complicated and confusing interface. Not anymore — the exchange that WeiDex will represent is more than accessible and easily operated.
For more details on the project please visit: https://weidex.market
Conclusion
So far twelve good reasons listed and so much more. The advantages of the decentralized system of exchange are not only countless but also perfectly justified. It is not difficult to find the sense behind the inevitable future. Because that is what decentralized exchanges are — the bright future of the decentralized environment and it is so close that we can almost touch it. It is now time to become part of the bright future and get rid of all obstacles in front of the self-control of our own assets.
“The past cannot be changed. The future is yet in your power.”