Decentralized Exchanges Urged to Evolve for Better User Experience
Hashed Founders Call for Advancements in DEX Technology
In a series of discussions, the founders at Hashed, a leading blockchain fund in Korea, emphasized the need for decentralized exchanges (DEXs) to undergo significant advancements. They argued that the current range of DEX products, which enable users to exchange tokens in return for yield rewards, lack sophistication and require improvements.
The founders proposed various ideas to enhance DEX technology, including the development of better code for order books. This would enable trades to be executed more efficiently, eliminating concerns about front-running, a practice where traders exploit advance knowledge of pending transactions to gain an unfair advantage.
According to one of the founders, “DEXs have the potential to revolutionize the way we trade digital assets. However, in order to achieve mass adoption, they need to offer a seamless and secure user experience. This requires advancements in technology that address the current limitations and concerns.”
Front-running has been a persistent issue in the crypto space, particularly in DEXs. By improving the code for order books, DEXs can minimize the risk of front-running and ensure fair and transparent trading for all participants.
The founders at Hashed also stressed the importance of collaborating with developers and researchers to find innovative solutions. They believe that by working together, the industry can overcome the challenges faced by DEXs and pave the way for a more efficient and user-friendly decentralized trading ecosystem.
As the demand for decentralized finance (DeFi) continues to grow, the need for advanced DEX technology becomes increasingly crucial. Users are seeking platforms that offer high-speed transactions, low fees, and robust security measures. By addressing these requirements, DEXs can attract a wider user base and establish themselves as a viable alternative to centralized exchanges.
While the current cohort of DEX products has laid the foundation for decentralized trading, there is still much room for improvement. The founders at Hashed are confident that with the right technological advancements and collaborative efforts, DEXs can evolve into sophisticated platforms that meet the needs of both retail and institutional traders.
As the blockchain industry continues to mature, it is essential for DEXs to keep pace with evolving market demands. By embracing innovation and prioritizing user experience, DEXs can play a pivotal role in shaping the future of decentralized finance.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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