Thx for the post. Poloniex is getting worse each month. We all need to go to decentralized exchanges. And maybe when more and more oeple leave they wake up and some users who didn't go to another exchange benifit that their eyes opened..
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Decentralised exchanges are a tough technical challenge. There is bitshares for example but it still requires a gateway such as open ledger to issue the IOUs on the blockchain.
Maybe for all coins which support lightning network functionality, so-called 'atomic swaps' might be possible - but I don't know much about technical details of this.
However i would expect decentralised exchanges to be possible on the ethereum network if you just need to trade ERC20 tokens against Ether. I think this can be trustless because the trading engine would just use smart contacts on the ethereum blockchain. I don't know if EtherDelta is decentralised, but I'm thinking something like. But I could be wrong about how possible this is.
Yeah i agree, the technical details for crypto and smart contracts are really difficult to understand. Actually I think there are really a few people in the world who really can build and understand it. But fact is that cenralised crypto exchanges feels the same as current normal bank nowadays. There will be a time we also don't need them anymore. Both centralized banks and crypto exchanges.