Wednesday, September 22, 2021
HomeNewsA decentralized crypto exchange for EVERYONE! From Investing.com

A decentralized crypto exchange for EVERYONE! From Investing.com






Investing.com – In the cryptocurrency market, trading on Monday was as mixed as it was last summer. For,, and it’s going downhill. The losses are between 0.69 percent for the ether and 1.38 percent for ADA, which is quite manageable.

The investors of and are enjoying profits of 5.02 and 9.53 percent. Particular attention is paid to Solana, as the blockchain designed on the proof-of-history has managed to overtake in market capitalization.

While it brings DOT to $ 24.75 billion, the recent SOL rally has catapulted market cap to $ 29.08 billion. This secures Solana 8th place among the top 10 cryptocurrencies.

Jack Dorsey’s decentralized Bitcoin exchange

Jack Dorsey, CEO of Twitter and Square (NYSE :), recently spoke about the fact that a working group had been set up within Square to develop a decentralized crypto exchange (DEX) is working.

Mike Brock is the responsible project manager for the under the name TBD ongoing development phase. On Twitter, he explained what problem they are trying to solve.

“We believe that Bitcoin will be the native currency of the Internet. While there are many projects that are helping to decentralize the Internet, our focus is solely on a solid global monetary system for all.

If you want to get Bitcoin today, you have to deposit money with a centralized and custody service like @CashApp or @Coinbase. These Bitcoin deposits and withdrawals pose a number of problems. Not all of the services offered are available everywhere in the world.

We want to make this a lot easier. The goal is a non-attachable wallet to which Bitcoin can be accessed from anywhere in the world. You can think of it as a decentralized exchange for Fiat.

The platform should be publicly accessible, as open source and open protocol, and compatible with any wallet. No foundation or government in the world will be able to control TBD. “

The idea itself sounds good. Away from the established centralized crypto exchanges, which are not allowed to offer their services everywhere, towards an open architecture.

But whether the central banks and governments will play their part remains questionable. China is undoubtedly the world champion when it comes to withholding certain parts of the Internet from its own people. So the exciting question is: how will Beijing be technically prevented from paralyzing this Bitcoin service?




Cardano declares war on money laundering

There are only a few days left until the Cardano blockchain is ready for smart contracts, because the rollout of the Alonzo upgrade will take place on September 12th. So that the defi development really gets going right from the start, the founder Charles Hoskinson also insists that the current guidelines for the prevention of money laundering and the financing of terrorism (AML / CFT) can be adhered to.

To this end, it recently partnered with London-based Coinfirm Limited.

Coinfirm itself writes about its AML / CFT service:

“Within seconds you get a deep insight into what is happening. We offer 270 different risk checks and information, ranging from evidence of financial crime to the identity of the counterparty. With our standard reports you can check every transaction. If you know more detailed reports are also available. “

For financial institutions and insurance companies, this is an important criterion when it comes to developing DeFi (decentralized financial services) and DApps on the Cardano blockchain in the future.

Ethereum tokens targeted by AML / CFT

The effects of AML / CFT on Ethereum tokens are currently being dealt with by eToro. However, this is less about the benefits of combating money laundering and the financing of terrorism than about the fact that regulations can reduce the interest and thus the trading volume of tokens.

The eToro CEO Yoni Assia frowns worries because the considerable growth of his crypto division could come to a standstill.

In the second quarter, the commissions earned with crypto trading totaled $ 264.2 million ($ 11.2 million a year earlier) – income that also comes from trading Ethereum tokens such as and.

Yoni Assia said: “Regulatory risks can affect token prices in the DeFi area. Especially when the token economy is completely dependent on an open DeFi ecosystem.”

The eToro CEO expects demand to decline should AML / CFT guidelines become mandatory. Regulation for exchanges that offer Ethereum tokens is therefore nothing more than a brake on growth.

From Marco Oehrl


Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending News

Recent Comments