As a good bitcoiner or altcoiner, It is of a great importance to be aware of how we're spending our money, how much we pay in fees and how often we trade. The existence of decentralised exchange has brought beauty to the world of exchange. The fee is too high! A lot of kyc!! Unexpected fee!!! Hehe, I know that has been a big hurdle for trying to dabble more within the crypto world. I've noticed that I'm kinda screwed up and overpaid when transferring USDT to Kucoin. They automatically slap on a $17 deduction when you transfer out of binance. These are things we face in centralised exchange. Thanks to theycallmedan as he gives a justification to the issue of fees.
Decentralised exchanges
One of the major highlights of trading on DEX platform is that unlike Sexes, no centralised authority is involved, therefore giving a full authority of your funds, reducing security risk like exchange hacks or even mismanagement of funds. Decentralised exchanges are better set up to protect your data and privacy. Having a fearless and No kyc to move bitcoin off the bitcoin main chain where fees are going to keep rising higher and higher is what many users have been waiting for. These are juicy things decentralised exchanges have promised.
According to theycallmedan, he talked on how they're desperately working HBD to bitcoin transaction. The biggest attack on hive now is that we need to rely strongly on centralised exchange. Centralised exchange isn't to be trusted as any law can be propounded to delist the transaction of hive and other tokens. Therefore, there's a need for a backup plan. There are various attempts of people trying to build decentralised exchanges but it all turns out to be web2.5 bullshit. The only thing that is needed here is the right tool, real weapon and a real deal that can be used to preserve our digital dignity.
Bitcoin transaction with zero fees
The next step with this technology is obviously getting more bitcoin into the system, getting liquidity, and getting more people into the system. And then before we know it'll be sending bitcoin with no fees cause you don't have to run a private node, we don't have to trust any centralised node.
According to theycallmedan, hive will be the first to run decentralised exchanges with zero fees. Yeah, hive has the potential.
The Vlc network
The vlc network is an amazing intuition and innovation that gives a glance of what decentralised exchange should be. Checking up the website I couldn't help but commend the effort of the programmer. The user interface was a wow.
Zeegirl 🌻