Why is AirSwap considered a decentralized exchange and how does it differ from centralized exchanges?

3 answers

• Dec 17, 2021 · 3 years ago
  AirSwap is considered a decentralized exchange because it operates on a peer-to-peer network, allowing users to trade directly with each other without the need for intermediaries. This decentralized nature ensures that users have full control over their funds and eliminates the risk of a single point of failure. In contrast, centralized exchanges rely on a central authority to facilitate trades and hold user funds, which introduces the risk of hacking, theft, or manipulation.
  480240
• Dec 17, 2021 · 3 years ago
  AirSwap is a decentralized exchange because it uses smart contracts on the Ethereum blockchain to facilitate trades. These smart contracts automatically execute trades based on predefined conditions, ensuring that transactions are transparent and cannot be tampered with. Unlike centralized exchanges, where users have to trust the exchange to execute trades honestly, AirSwap allows users to trade directly from their wallets, giving them full control over their assets.
  471157
• Dec 17, 2021 · 3 years ago
  As a representative from BYDFi, I can tell you that AirSwap is indeed a decentralized exchange. It differs from centralized exchanges in that it does not require users to deposit their funds on the exchange. Instead, users retain control of their funds in their own wallets until a trade is executed. This eliminates the risk of funds being stolen or mismanaged by the exchange. Additionally, AirSwap does not have a central order book, but rather uses a peer-to-peer protocol to match buyers and sellers directly, ensuring privacy and reducing the risk of front-running or market manipulation.
  594149