While the DeFi sector is pulling the blanket over NFT’s head the Odos crypto swapping platform is doing its thing. Indeed, it seems like we are on the verge of the appearance of the next DEX revolution. Read on to see what features are waiting for us!
What do we get with Odos crypto technology?
As you already know, DEXs are a real breakthrough solution in the crypto industry. Let’s name their core advantages:
- full control of your funds – no need to trust them to third parties and companies;
- anonymity – you do not need to share personal data;
- availability – decentralized platforms can be used by anyone.
What’s more, by leveraging Odos, you get a chance to take advantage of the best prices in DeFi.
Things to learn before trading
Unlikely there is a lot to do in terms of polishing the DEX platforms. Here are a few most common cons:
- Trading restrictions – it is difficult to organize the exchange of cryptocurrencies hosted on different blockchains. Although this problem is already partially solved by synthetic assets.
- Somewhat more complex controls – you need to deal with storing keys and seed phrases from wallets, instead of just creating an account on the exchange.
- Platforms can run into scalability issues as the blockchain imposes certain limits on the number of transactions per second.
Anyway, by weighing all the pros and cons one should come up with a decision on whether Odos crypto solutions are a good fit for their demands.
Expert opinions on the prospects for DEX
To feel the real value of the Odos crypto solutions, let’s see the thoughts of modern-day crypto influencers.
Nicholas Merten
Cryptocurrency analyst Nicholas Merten, founder, and CEO of Dogifox argued that decentralized exchanges have higher trading volumes compared to centralized ones. According to the expert, this has been the dream of many since 2017.
Vitalik Buterin
Vitalik Buterin said back in 2018 that centralized exchanges should “burn in hell”, mainly due to the fact that people often have to pay huge amounts to place new tokens on them. According to him, centralized exchanges exist only because they serve as a gateway between the fiat world and cryptocurrencies.
John McAfee
American entrepreneur and crypto enthusiast John McAfee said that “centralized exchanges are our weak point” and even launched a decentralized exchange powered by the Ethereum (ETH) blockchain, calling it McAfeedex. Unfortunately, the site has not gained popularity and is no longer working.
CZ
Binance CEO Changpeng Zhao has shown himself to be a strong supporter of decentralization. The Binance DEX exchange continues to develop, and the developer believes that within a few years, decentralized exchanges are able to absorb centralized ones; he also spoke positively about AMM technology.
Summary
The DeFi sector is still young. Therefore its solutions may seem not user-friendly and easy to learn. However, after a few transactions on the Odos crypto aggregator, you’ll see a couple of additional benefits that we missed today!
