ETH DEXes not as Decentralized as Bitshares ?
It seems that Bitshares is still the king of decentralization, im not sure about NEO one but it looks like stuff on Ethereum is a hybrid of centralized and decentralized exchanges.
I do not mean stuff thats P2P like ZRX or Bancor exchanges but the order book ones like Idex or EtherDelta.
If we check faq:
IDEX consists of a smart contract, a trading engine, and a transaction processing arbiter. The smart contract is responsible for trustlessly storing all assets and executing trade settlement, and all trades must be authorized by the user’s private keys.
However, unlike other decentralized exchanges, the IDEX smart contract is designed such that only the exchange is authorized to submit signed trades to Ethereum. This enables IDEX to control the order in which transactions are processed, separating the act of trading from final settlement. As users trade their exchange balances are updated in real-time, while simultaneously their private keys are used to authorize the trade in the contract. This authorization prevents users from rescinding any completed trades, and prevents IDEX from initiating any unauthorized trades.
Authorized transactions are passed to the arbiter which manages the queue of pending transactions, dispatching them in sequence to ensure that each trade is mined in the correct order and that the smart contract balances stay in synch with the exchange balances. By controlling the transaction sequence, IDEX provides the speed and user experience of centralized exchanges combined with the security and auditability of decentralized exchanges.
EtherDelta on the other hand has a P2P order book and also centralized one in the databse.
So those exchanges hold your money in smart contracts making them secure yet it seems order books can be hacked or manipulated.
Would be great to hear in comments skilled in technology people to explain pros and cons of this fact.
OpenLedger Markets
Idex Markets
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In Etherdelta we at least have a p2p option. It has provided me a great way of getting rid of some useless ERC20 tokens and getting some pretty useful ones. Although my amounts were quite low so in the end Hacking probably wouldn't have affected me much.
....... but as asked by @kingscrown , it'd be great to hear some technical opinion on pros and cons of the smart contracts.
Coins mentioned in post:
I hope it stays that way :)
Amazing
In the mean time,it seems like EOS is king of centralization.
In the mean time,it seems like EOS is king of centralization.