Ever since the first-ever cryptocurrency (Bitcoin) got launched in 2009, the online trading world has never been the same. Internet users have been attracted to crypto-trading more than they have been to any other online trading market. With its dynamic trading mechanism and decentralized ecosystem, the cryptocurrency world has been ahead of every other trade and is set to have a positive impact on the entire world’s economy.
It would have never turned out to be this way for the cryptocurrency and blockchain industry if it were not for decentralized cryptocurrency exchanges, which provided users with the opportunity to trade their digital assets without the need of any intermediary as well as be able to keep their assets in the wallets or accounts offered by such crypto-exchanges.
Even though the decentralized cryptocurrency exchanges have so much to offer their users and the potential to grow big and wider in range with respect to the tools and utilities they have to offer, there are still many people who are reluctant to step foot into the crypto-world just because of the fact that majority of the decentralized cryptocurrency-exchanges are operating without any regulatory guidelines as well as no accountability or scalability. These are the key aspects, which tend to pave cryptocurrency’s path towards development and success but seem to be missing for the decentralized industries.
Based on the above facts and uncertainties of the decentralized infrastructure, many crypto and economic analysts recommend that the cryptocurrency industry needs to bring in reforms to its basic structure, framework, and the systems how they operate. In order to bring in reforms, the cryptocurrency exchanges need to take necessary steps that would play a key role in regulating the processes of the exchanges. Doing so would win the trust of people who at present, are reluctant to spend their money on the cryptocurrency platforms.
Another very important thing that the crypto-exchanges need to take care of is changing from decentralized to centralized entity. If this is done, the investors and users will no longer be afraid of losing their assets in case anything ends up happening to the crypto-exchange.