Decentralized vs Centralized trading platforms

Until now, the cryptocurrency space has been dominated by centralized exchanges (CEX’s) that help facilitate transaction from government currencies to cryptocurrencies.

Centralized exchanges, like Coinbase, are easy to access and easy to use. However, as many have failed to adequately secure their customers’ funds, decentralized exchanges (DEX’s) are becoming a popular concept, such as Uniswap and PancakeSwap, etc.

Notwithstanding this, we believe the DEX model is a false positive in many ways, and is more a product of the old crypto-anarchy movement than anything else.

PDX will launch its own hybrid CEX-DEX exchange platform, and wallet, that will address many of the problems experienced with other centralized exchanges, particularly in regards to speed and security.

DEX trading platforms offer an alternative, and perhaps even more valuable service, by promising greater security and transparency. They do not rely on third-party services to hold customer funds. Instead, peer-to-peer transactions are possible through an automated process.

The benefit of using a DEX is that there is no need to put any trust in the exchange platform itself, as the funds are held by the user in a personal wallet, rather than with a third party. DEXes can also provide more privacy, while reducing the risk of server downtime, if only for those who are more tech-savvy.

Unfortunately, DEX platforms, notwithstanding significant developments in the space, still lack the commodity, ease of use, and overall “user support” to attract a viable mainstream user base. Therefore, the liquidity and market depth of these exchanges is still low in relative terms, albeit changing quickly, as a wider cross-section of crypto investors come to grips with DeFi and other opportunities available through DEX platforms.

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