The main benefits for me are: access, control, security, and cost.
access: There are a lot of regions that Coinbase Pro and other exchanges are unable to service. Decentralized exchanges are open to anyone with an internet access.
control: On merkleX you play by the rules of an immutable Smart Contract. The rules of centralized exchanges are subject to change and unexpected downtime. There's been multiple occasions where Coinbase withdraws have been frozen for almost a day due to scaling issues and internal decisions.
security: This is a double edge sword. The rules of merkleX put immutable code in charge. There is no way for a bad actor from the inside or the outside to lie, hide, or steal. The other edge of the sword is if there is a logical or implementation bug in the code that is in charge. Our approach for this is to keep things simple and have really aggressive security audits.
cost: Centralized exchanges have a large ongoing overhead for compliance, security, and bureaucratic process. Once a decentralized exchange becomes established the operating costs become tied to the Ethereum Gas usage. Depending on implementation this can differ dramatically but with the right technology, which we think we have, it is quite low.
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[ 3.5 ms ] story [ 12.3 ms ] threadaccess: There are a lot of regions that Coinbase Pro and other exchanges are unable to service. Decentralized exchanges are open to anyone with an internet access.
control: On merkleX you play by the rules of an immutable Smart Contract. The rules of centralized exchanges are subject to change and unexpected downtime. There's been multiple occasions where Coinbase withdraws have been frozen for almost a day due to scaling issues and internal decisions.
security: This is a double edge sword. The rules of merkleX put immutable code in charge. There is no way for a bad actor from the inside or the outside to lie, hide, or steal. The other edge of the sword is if there is a logical or implementation bug in the code that is in charge. Our approach for this is to keep things simple and have really aggressive security audits.
cost: Centralized exchanges have a large ongoing overhead for compliance, security, and bureaucratic process. Once a decentralized exchange becomes established the operating costs become tied to the Ethereum Gas usage. Depending on implementation this can differ dramatically but with the right technology, which we think we have, it is quite low.