June 5, 2018
Privacy, security, fewer barriers to entry and absence of unnecessary fees among the benefits of next phase of blockchain evolution
[Chicago, IL June 5, 2018] Decred (DCR), an autonomous digital currency with built-in governance, today released a formal proposal for a new kind of decentralized exchange. Known by its temporary working name “DEX,” the proposal suggests replacing the billion-dollar centralized cryptocurrency exchange market with a trustless peer-to-peer model. The proposal comes at a time when the blockchain market seeks new levels of efficiency and questions the privacy, security, fees, and other barriers of the existing system.
“DEX is a topic that has been discussed for some time,” said Jake Yocom-Piatt, Decred Project Lead and one of the authors of the proposal. “Our goal is to structure the conversation so the developer community can step up with real-world solutions. We believe that this call-to-action is long overdue. Blockchain can only move forward by putting more power in the hands of the community. Decentralization has been our guiding principle at Decred and it is what motivated us to create this project, which can benefit the entire ecosystem.”
Decred’s proposal leverages on-chain atomic swaps, announced in September 2017, making it the first project to support direct exchanges between users of Decred, Bitcoin and Litecoin.
To read the full DEX proposal, visit the Decred Blog: blog.decred.org.