First decentralized exchange: BitShares | 10% for @tron-fan-club

Bitshare is not like a traditional exchange. In decentralized exchange, it requires users to trust a third party to hold their funds and execute trades. In 2014, a groundbreaking development took place in the world of cryptocurrency with the creation of the first decentralized exchange. Bitshare was designed to operate on a decentralized network that gave users full control over their funds and trades. The creation of BitShares was a significant moment in the history of cryptocurrencies as it demonstrated the potential of blockchain technology to disrupt traditional financial systems and create more democratic and transparent markets. It was created by Dan Larimer. He had previously founded the cryptocurrency project, BitShares.

BitShares was designed to provide a platform for the creation and trading of digital assets, including cryptocurrencies and other digital tokens. It allowed users to create and trade assets directly on the platform, without the need for intermediaries or central authorities. The use of a decentralized consensus algorithm called Delegated Proof of Stake (DPOS) is the main innovation of Bitshare. This algorithm allowed users to vote on which nodes would validate transactions and maintain the network, giving them a say in how the platform was run and reducing the risk of centralization.

BitShares got popularity among cryptocurrency enthusiasts very quickly for its decentralized nature and the ability to trade a wide range of digital assets. It also paved the way for the creation of other decentralized exchanges, such as Ethereum's Uniswap and Binance's Binance DEX. Initially liquidity issue was a problem as decentralized exchanges have struggled to attract enough trading volume to compete with centralized exchanges. Some other problem was with security concerns and regulatory uncertainty. Still the creation of BitShares in 2014 was a pivotal moment in the history of cryptocurrency. It demonstrated the potential of blockchain technology to disrupt traditional financial systems and create more democratic and transparent markets.