Bitcoin Cash
$539.40 -0.65%
BCH · 5w

DEXes and their pros/cons? Flood of new projects on the market.

Hi everyone! I haven’t used any DEXes before but I am interested in the benefits and problems of these systems. I was mainly using Coinbase to buy BCH and other coins. Lately I was talking with a friend and he told me about decentralized exchanges. Said they are much faster and offer better fees compared to bigger platforms. I googled and found platforms like pancakeswap and uniswap, then I found a newer DEX called quickswap and then a completely new one that seems to be masquerading as quickswap – kwikswap. I initially got a little overwhelmed as I just listed a few but there are dozens upon dozens of those DEXes all over the place. Kwikswap caught my eye because I saw a glaring problem that exists in the world of ERC-20 tokens and Ethereum platform in general: name taking. As an easy example – there are dozens of clones of Doge. And all of them are trying to capitalize on simpletons hearing about Dogecoin and investing into everything Doge-connected while not distinguishing between the OG token and a multitude of look-alikes. I went to the website of this kwikswap and I saw they are promoting themselves as having implemented Layer 2 and multi cross chainswap that supposedly make this platform very fast and secure at the same time so I don’t understand why they decided to take a stance as a quickswap look-alike. I then went to their telegram group to see maybe I’m missing but I don’t know, it’s weird. Here’s their TG group, maybe you can make more sense of it: [https://t.me/kwikswapdex](https://t.me/kwikswapdex) What I’m asking is: what is the catch here? Why are there so many DEXes popping up since last year and how are they really different and competing with each other? It seems like in the world of cryptocurrencies it is extremely easy to create something “new” thanks to open-source solutions and platforms that allow you to build based upon their work. I know the decentralization is the word here and that crypto is all about being ungoverned by one entity b...
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