How likely you will use Atomic Swap exchange for ETH-BTC trades?
So we are now in the process of collecting stats about community attitude to Atomic Swap technology and it's possible usage for common trades and exchanges. Our own platform shows slow but firmly growth of volume and users trust (we will share full stats in several days) Meanwhile, we want to make a small quiz for blockchainers (both ethereum and bitcoin enthusiasts)We have highlighted Atomic Swap key features against classic centralized exchanges
1. Decentralization is one of the main blockchain ideas. Centralized exchange ruins such idea
2. Atomic Swap allows to make a peer to peer (wallet to wallet) exchange much faster and cheaper, then a centralized one. Average time to exchange ETH to BTC with Metamask and BitPay wallets is 4 minutes (without pending)
3. Centralized Exchanges controls funds of users. They can freeze funds of any user for any time they want. Also, CEX server could be hacked and funds would be stolen. Moreover, users have to pass KYC and verification procedures, since Atomic Swap is an instrument for exchange, not a service, users don't have to pass such things
But of course, there are "contras". Here are the most common reasons of not to use Atomic Swaps we get during networking
1. Technology is not yet ready for common and regular use - it is still needed further development and testing.
2. What is the reason to use a decentralized exchange like Atomic Swap, if CEX fills all my needs in exchange
3. There are still no comfortable, trustworthy and user-friendly service to do Atomic Swap exchanges
But if you have any other options for such Poll - share your feedback in comments
Ethereum has seen an increase in user activity throughout 2019. Backed by the strong growth of DeFi, the ecosystem is expected to expand rapidly entering into 2020. According to Joseph Lubin, the co-f...
[ CHECK THE LATEST PRICE ANALYSIS HERE ] The future of finance is evolving and Ethereum based DeFi is at the forefront of it. This year has seen explosive growth in decentralized finance despite beari...
Highlights: Nike has announced plans to tokenize footwear on the blockchainThe move is an attempt to curb the duplication of footwear around the worldOwnership of footwear can be tracked and transferr...
Malta-based cryptocurrency exchange OKEx announced that it will launch crypto options trading on Dec. 27. In a press release on Dec. 9, the exchange said that the addition of options makes OKEx the “f...