Today’s Internet is not what we imagined it to be. Companies like Facebook and Google harvest free information from us, exploiting our right to privacy and foster distrust. The Internet is brimming with single points of failure but with the conception of a decentralized network, things started changing.
What is Decentralization?
The idea of decentralization is experiencing a huge resurgence due to the inclusion of cryptography and the blockchain. Decentralization is at the core of this new era of the Internet.
In simple terms, decentralization means that the operations and responsibilities are moved away from central authorities and delegated to the community in a democratic way. Though decentralization is still in its infancy, it has already proved that there are several advantages to it. For instance, decentralization can lead to vast security improvements in the field of finance. It can eliminate issues related to bankruptcy, diminish authoritarian decisions, remove the threat of servers being hacked and limit government intervention.
Trustless Platforms – The Need
One glaring weakness that needs immediate attention is the subject of centralized exchange. As we know, centralized exchanges are governed directly by a central authority or by the company that owns the platform.
The nature of centralized exchanges makes them vulnerable to a number of technical issues which includes:
Hacking
Scams
Front-running
Partial default
No control of your assets
With such issues, the need for a trustless platform gave rise to hybrid exchange platform.
The BELDEX Hybrid Exchange
BELDEX a new cryptocurrency ecosystem has come up with the best solution by introducing a hybrid exchange system. It combines both centralized and decentralized features and functionalities. This provides the customers with the best exchange platform for their cryptocurrency needs.
This initiative will change the way people look at hybrid exchanges, creating a powerful and trustable platform. It will become one of the most important aspects of the growth of crypto-economy that will create favorable conditions for the existing as well as new customers.