Not decentralized at all. I'd argue the true decentralized exchange was developed prior to the development of today's Bisq and was in fact the original version of OpenBazaar (there was an element within it which allowed for true decentralized exchange). There are many so-called "decentralized" exchanges today, but arguably the only ones that can be considered decentralized are those that don't require anyone to register or sign up in order to use it, and are based on bitcoin (bitcoin native applications and/or systems).
None of the so-called "decentralized" exchanges here are in fact decentralized, for example: https://github.com/distribuyed/index
Here's an interesting issue in github (for Bitcoin), which was long ago closed.
https://github.com/bitcoin/bitcoin/issues/10494
Relating to decentralized exchange development.
The following is not my personal view but is added for context. The organization known as CATO believes that "Congress should amend the Securities Exchange Act at 15 U.S.C. Section 78c and the Commodity Exchange Act at 7 U.S.C. Section 1a to include the following:
Decentralized crypto [commodity/ security] exchanges mean any market places or facilities for purchasing, selling, or trading crypto [commodity/ security] tokens, where such market places or facilities:(A) Are materially and substantially composed of permissionless, self‐ executing smart contracts written in publicly auditable, open‐ source code;(B) Do not rely on custodial intermediaries;(C) Allow for the continuous public retrieval of their transaction histories;(D) Do not have outstanding, or possess on behalf of the market places or facilities, administrative privileges or tokens conferring protocol governance rights, such that any person or unified group maintains discretionary, decisive, and practical control over any final decision to substantially change the functionality of the market places or facilities. Notwithstanding the foregoing, ministerially implementing changes resulting from a non‐ discretionary governance process shall not be construed, without more, as evidence of such control; and(E) Do not make to end users any implicit or explicit promises of performance, extrinsic to computer code, without which such decentralized crypto [commodity/ security] exchanges would not operate or produce their promised benefits. Notwithstanding the foregoing, representations over a front‐ end graphical user interface that do not materially differ from a reasonable articulation of the functionality of the exchange’s underlying software shall not be construed, without more, as such promises of performance." Source: https://www.cato.org/briefing-paper/regulatory-clarity-crypto-marketplaces-part-i-decentralized-exchanges#defining-decentralized-exchanges
freethinkingperson /
npub1gw…t4pha
2023-10-20 06:24:38
in reply to nevent1q…qaey
Author Public Key
npub1gw3phl4qrul5mre27zshty0n6m06p6thwugcr3362202e6xqhafsmt4phaPublished at
2023-10-20 06:24:38Event JSON
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"content": "Not decentralized at all. I'd argue the true decentralized exchange was developed prior to the development of today's Bisq and was in fact the original version of OpenBazaar (there was an element within it which allowed for true decentralized exchange). There are many so-called \"decentralized\" exchanges today, but arguably the only ones that can be considered decentralized are those that don't require anyone to register or sign up in order to use it, and are based on bitcoin (bitcoin native applications and/or systems). \n\nNone of the so-called \"decentralized\" exchanges here are in fact decentralized, for example: https://github.com/distribuyed/index\n\nHere's an interesting issue in github (for Bitcoin), which was long ago closed.\nhttps://github.com/bitcoin/bitcoin/issues/10494\nRelating to decentralized exchange development.\n\nThe following is not my personal view but is added for context. The organization known as CATO believes that \"Congress should amend the Securities Exchange Act at 15 U.S.C. Section 78c and the Commodity Exchange Act at 7 U.S.C. Section 1a to include the following:\nDecentralized crypto [commodity/ security] exchanges mean any market places or facilities for purchasing, selling, or trading crypto [commodity/ security] tokens, where such market places or facilities:(A) Are materially and substantially composed of permissionless, self‐ executing smart contracts written in publicly auditable, open‐ source code;(B) Do not rely on custodial intermediaries;(C) Allow for the continuous public retrieval of their transaction histories;(D) Do not have outstanding, or possess on behalf of the market places or facilities, administrative privileges or tokens conferring protocol governance rights, such that any person or unified group maintains discretionary, decisive, and practical control over any final decision to substantially change the functionality of the market places or facilities. Notwithstanding the foregoing, ministerially implementing changes resulting from a non‐ discretionary governance process shall not be construed, without more, as evidence of such control; and(E) Do not make to end users any implicit or explicit promises of performance, extrinsic to computer code, without which such decentralized crypto [commodity/ security] exchanges would not operate or produce their promised benefits. Notwithstanding the foregoing, representations over a front‐ end graphical user interface that do not materially differ from a reasonable articulation of the functionality of the exchange’s underlying software shall not be construed, without more, as such promises of performance.\" Source: https://www.cato.org/briefing-paper/regulatory-clarity-crypto-marketplaces-part-i-decentralized-exchanges#defining-decentralized-exchanges",
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