Bitcoin.org’s Cobra says decentralized exchanges are going to explode in popularity soon

By April 20, 2019 Bitcoin Business
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Bitcoin.org's Cobra: 'Decentralized exchanges are going to explode in popularity soon'

The updates and developments in the world of cryptocurrencies have been guided by the proponents in the field, either because of their comments or due to their contributions to specific cryptocurrencies or networks. A popular trend that had picked up last year was the concept of decentralized exchanges, which was in the limelight because of the launch of Binance’s DEX.

The latest proponent to come out in support of decentralized exchanges was Cobra, the co-owner of the Bitcoin.org who claimed that 2019 was the glory year for them. Cobra’s tweet read:

“Decentralized exchanges are going to explode in popularity very soon. 2018 was the year of stablecoins which was the last step to make it possible for DEXs to interact with fiat. Coming regulation, burdensome KYC, exchanges being seen as “kingmakers”, all will push users to DEXs.”

The exchange being termed as ‘kingmakers’ can be attributed to the recent decision taken by the Changpeng Zhao-led Binance to delist Bitcoin SV [BSV]. Cobra was not the only proponent in the space who was critical of the delisting as earlier, Jimmy Song, a long-standing critic of Bitcoin SV shunned Binance’s decision. He stated:

“Unpopular opinion: Delisting coins is satisfying short term, but ultimately bad. It’s giving the perception that exchanges are king-makers or legitimatizers. They are not.”

Another proponent who echoed Song’s sentiment was Nic Carter, who pointed out that a ‘fraud’ should not be the deciding criteria for any delisting process. He had mentioned:

“If fraud from the chief promoters is sufficient reason for delisting from Binance… almost everything should be delisted. We’re still in the wild west era of cryptocurrency, like it or not totally unregulated, unaccountable exchanges are the kingmakers. I for one am excited for this to change.”

A positive push in terms of decentralized exchanges was given by Binance’s DEX mainnet launch announcement. The organization stated that they plan to execute the Mainnet swap on April 23 of this year.

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