In light of the fact that "decentralization" is the operative word when it comes to bitcoin in particular and cryptocurrencies in general, why not explore the concept when analyzing exchanges? In other words, why shouldn't the exchanges(s) you use to acquire various tokens at least attempt to operate in a decentralized manner?
Up until relatively recently, that has unfortunately not been the case. Instead, centralized exchanges have represented the norm because convenience prevailed. As this video comparison makes clear, everything is relatively straightforward concept-wise when running a centralized exchange. No need to innovate all that much and... well, it works, so why rock the boat?
The answer revolves around the elephant in the room in terms of vulnerabilities: the fact that there is a centralized point of failure by definition. Whether we are referring to cryptocurrencies themselves or the platforms they are purchased through, the desire to eliminate centralized points of failure has represented one of the main goals of the cryptocurrency world right from day one. And rightfully so.
Therefore, decentralized exchanges represent a perfectly natural as well as desirable alternative and through this video, we will compare the two exchange types so as to reach conclusions that are conducive to a meaningful understanding of this variable associated with the proverbial ecosystem.
