Centralization and decentralization: experts discuss trends and share insights | CryptoTvplus

Decentralization is one of the core principles of cryptocurrency and sets it apart from traditional financial systems that function in a centralized manner.

This contrast is evident in the existence of both centralized and decentralized exchanges in the crypto space. But what does the future of the crypto industry look like?

speaking at Istanbul Blockchain Week 2023, May MichelsonHead of Global Sales, GK8, expressed Their belief in the eventual dominance of centralized custodians pointed to big financial institutions like Binance and Coinbase.

She predicted that as regulations tighten and robust processes are adopted, financial institutions will play a pivotal role in securing and managing digital assets, much like traditional fiat money.

Vice versa, Robert McCrackenecosystem leader, Alchemy Payacknowledged advances in decentralization, citing the growth of decentralized autonomous organizations (DAOs) and solutions such as ZK proofs and roll-ups that address scalability issues.

He envisions the crypto industry making strides in centralization and decentralization at the same time.

“Centralization generally arose because of scalability issues, but we’re still making progress in addressing those issues without necessarily moving to centralization.”

Non-custodial services that offer users more choices

Speaking of the rise of DEXes: Alexandre Chesse, fire blocksThe head of sales for France, Middle East and Africa said there is a growing trend towards centralized liquidity, decentralized platforms and non-custodial wallet services.

He added that these non-custodial wallet services allow users to own their keys, which they can use to access liquidity on either centralized exchanges or DeFi liquidity pools.

In addition, he assumed that DEXs would play a more important role in the future. As new protocols emerge to facilitate cross-chain swaps, liquidity on DEXs is expected to increase.

This shift could contribute to broader market adoption and liquidity distribution across decentralized platforms.

Also read; AI, blockchain and gaming: experts discuss the future

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