Introduction
Decentralization is an important aspect that we need to keep in mind especially in 2020. The crypto sphere has been the victim of a purge recently from YouTube.
In one fraction of a second, you can lose your hard work without prior notification. And you have nothing to say because you don't own a platform like YouTube.
That's why I believe we need alternatives and we need to move forward into the direction of decentralization.
Blocknet intro video
Yesterday I made a small video about a cool project in the crypto sphere that we call Blocknet. It is a real DEX without a central point of failure!
You can check it on YouTube and follow me on my channel crypto and coffee.
What is a DEX?
This may look like a complicated word to understand when you look at it from different angles. Don't worry, it is very simple and this is why we need it in the first place in the crypto space.
We have a lot of centralized trading exchanges that got hacked and those incidents continue to hit the headlines. They are an easy target for hackers because it is where people make mistakes and are being phished.
Another point that suck is the complicate regulations and boring KYC that those exchanges need to follow. With a DEX you don't need to follow this requirement.
So, what is a DEX? It is a decentralized trading exchange.
The freedom of trading
We have the right to trade without the cumbersome menace to feel like we are terrorists or follow boring regulations like the KYC. It is only a pretext to track every movement of a central entity.
In the near future, this reality will be possible and trading will be quick and easy. We have the right to remain anonymous if we want, it is a choice and something that we need to respect.
What is Blocknet?
Blocknet is a DEX that offers us a trading option without the KYC and a central authority regulation. The project has a real product and has been created in 2014.
There is much information that I can relay about this project, I will talk deeper about it on another post to come. This post is only a small introduction to the potential of DEX.
What I am going to do with the project?
I will install the wallet and the DEX before the end of this week. I need to learn more about it and try this product because it is not something you do in one minute, unfortunately.
I downloaded the bootstrap file and have a copy of this blockchain of the last two years. That might accelerate the time needed to make my wallet ready!
Last word
I will make another post with videos that will demonstrate the potential of this DEX. I need to take my time to cover this technology and potential.
Decentralization is something we need to have the freedom to trade freely on the internet, without KYC.
In the meantime, you can check the Blocknet website and learn more about it.
Chesatochi.com – For the love of crypto and coffee
PS: I am not a financial adviser and this is only my own opinion. Always do your own research before to embrace any type of investment in the crypto space
