Exchanges have been a core part of this crypto asset space for some time now, the birth of exchange tokens only accelerated this the growth in this sub sector. But as we’ve seen with this space, innovation is always just right around the corner.
Crypto exchanges have become a tool we’ve begun to utilize on a day to day basis in this space, with the options of the beginner friendly and convenient centralized exchanges, to the non-custodial and fully peer to peer decentralized exchanges. We’ve seen a variety of new options and railways being built and developed everyday for potentially superior alternatives to some of the exchanges we’ve begun to grow so used to.
Some of the most prominent exchanges have been a crossover from both the centralized side and the decentralized side. As centralized exchanges tend to be the most common way for those new to this space to begin their journey, we’ve seen some custodial exchanges such as Coinbase, Kraken, and Binance really take off in growth and demand. Whereas decentralized exchanges tend to have a bit steeper of a learning curve and require some basic knowledge of the mechanics behind crypto assets before utilizing, they do often times provide many opportunities that centralized exchanges can’t quite offer yet, thus we’ve seen some non-custodial exchanges such as Uniswap, PancakeSwap, and TraderJoe.
Time for Innovation
Current exchanges play an essential significant role in all our crypto activities. Without them our options become quite limited, while theres hundreds if not thousands of exchanges currently available, many likely fall under the categories of non-compliance, inferior, or redundancy.
Simultaneously there are some crypto exchanges building out there working to tick off every single box on that checklist, while still having the enjoyable utility of these exchanges and offering some innovative products & solutions that have been less conventional to this space of exchanges.