Decentralized Crypto Exchanges Can Solve Fake Volumes And Malpractices
In an interview with Forbes, Sasha Ivanov, the CEO at $200 million smart contracts blockchain Waves and blockchain infrastructure development firm Vostok, said that decentralized crypto exchanges are capable of competing against centralized trading platforms and eliminate fake volumes from the global market. Last month, Changpeng Zhao, the CEO of the biggest centralized cryptocurrency exchange Binance, shared an analysis of fake volumes created by leading trading platforms, which explicitly described the dishonest methods employed by market leaders to inflate their volumes. Researchers at CER, a cryptocurrency research group, investigated BitForex, FCoin, and CoinEx, three trading platforms that managed to climb up the rankings to become top 10 cryptocurrency exchanges within months since their debut, evaluating their business models and volumes.
