Steem got a bit of an upgrade yesterday when Steemleo pushed out a massive upgrade to their DEX interface. People now have a couple options on select tokens when it comes to accessing them.
Steemleo's DEX is an interface that ties into the Steem-Engine DEX. Just like Steem-Engine, it reads the back end of what is on there. However, it is an individual interface that is offering its own features. Just like Steemit.com and Steempeaks have different features, the same holds here.
Before going any further, I must state that all tokens created are on the Steem-Engine DEX. However, interfaces, including the Steem-Engine front end are free to list whatever tokens they desire. Thus, some that are outside what the team behind the interface wants are not shown.
Secondly, all new token creation is done through the Steem-Engine interface. This is not something that the Steemleo interface can handle.
So why the need for another interface?
The first thought is further decentralization. Just like Steem benefits from Steempeak, steemit, busy, and all the tribe/application interfaces, so too does Steem-Engine. This spreads out the point of access, making it tougher for any one entity to target.
The other benefit is features. When you have different teams behind each project, ideas are going to come forth. They will not all be the same. Thus, just like Steempeak was very aggressive with their updates compared to some of the other interfaces, we will see the same thing happen with this.
As we can see, with just the first update, Steemleo brought forth a bunch of features that Steemians will find useful.
The Steemleo team put out a post announcing the release of the DEX v2.0 along with the different features. I won't detail everything here but will highlight a few things.
In trying the DEX out, the first thing that is noticeable is the speed. The interface moves at a rapid pace, especially when claiming tokens. This eliminates one of the hangups.
The second item on the list is the "Claim All" button. Many have developed tools 3rd party tools to do this. Now, we see the feature built right into the interface.
This is another time saver since one button almost instantly claims all tokens.
Something else that is bound to be very popular is the wallet. One of the issues with the Steem-Engine interface is the fact that all tokens are shown, even though with zero balance. This can be a bit tedious with so many airdrops taking place.
The Steemleo DEX offers the option to "Hide Zero Balance" tokens, this cleaning up the wallet a bit.
At the same time, the delegation to others is shown right in the wallet. This is handy since it is often hard to remember where one's delegations are standing. While the particular accounts are not available, the total is visible. Again, there are third party apps that were developed to show this but now it is in the wallet itself.
Here is a screenshot which has both those features.
The final feature I will highlight is the fact that one can view all open orders. This was previously available on each tokens market page but not a totality. Those doing a fair bit of trading using limit pricing could forget where some of the orders were.
This is now all presented in a single page.
This is a shot in the arm for the Steem ecosystem. Providing options to users is what decentralization is all about. Just like the interfaces accessing Steem, we are going to see more developed for the Steem-Engine DEX.
What this means is different features being focused upon. Projects teams will have different goals with their interfaces. As mentioned, the listing of tokens on each interface is different. Each project decides what data is going to be accessed from the DEX.
Also, as time passes, the innovation is going to vary. For example, @aggroed already stated that Steem-Engine is going to come out with NFTs and also accept fiat. These two features will really enhance the entire Steem platform while giving Steem-Engine another boost. Will these options be available on other interfaces? It depends upon what those projects teams decide to do.
DEX is only going to keep growing. Part of the stranglehold that the present system has is all the exchanges are centralized. This makes then vulnerable to target by regulators. Much of the havoc that was instilled by governments around the world was not accomplished by targeting the blockchains. Those are beyond their reach because of the decentralization.
The exchanges, on the other hand, are apt to be targeted. This is where a DEX is very valuable. I believe this is what will cause us to leave the "hybrid" era cryptocurrency (and cryptoassets). Our transition from centralized-to-decentralized will have phases. The end of regulatory and governmental control comes when the features and offerings by DEX interfaces rivals the centralized counterparts.
It is also at this point that humanity will be free to operate in a way that enriches all. Whereas a centralized system enables them to keep everything contained within a tight circle, decentralization means anyone can access what is being offered.
To me, the most exciting aspect to all this is the idea of security token offerings. Imagine anyone being able to partake in the initial offering of what will become some of the biggest companies in the world. This is non-existent today anyone who is not considered an "accredited investor".
This is another feature Aggroed mentioned on a number of occasions. Of course, still being hybrid, there will be regulations that must be adhered to (i.e. KYC and AML) on some of these offerings.
Regardless of that, this is a one-step at a time process. Steemleo just presented Steem with another step in the march forward. Updates are always good, especially when they are done in a timely manner. Version 2.0 came out a couple weeks after the introduction of the Steemleo DEX. According to the announcement, there will be another update coming in a month.
This is the type of progress we like to see. Those applications that are constantly adding to their offering are bound to keep moving forward.
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