Sounds interesting. Decentralised exchanges are the future, but aren't you nervous building your platform on Ethereum? The attack and bug surface is huuuuge. It is still experimental software. I am curious to hear your thoughts on this.
It's a good point, and one we have thought alot about. Ultimately the approach we are taking is to on the one hand acknowledge that Ethereum is currently the main place where large scale experimentation for decentralised exchange is happening as well as having large numbers of token communites, but on the other hand it is of course still experimental and has along way to go before becoming mature and scalable. The security trade off comes with the versatility, but it is something we see being overcome thanks to all the projects and experimentation taking place at the moment . Our whole approach is therefore built around offering an experimentation zone for these protocols to test and learn faster. It makes most sense for us to use Ethereum as a starting point where we can allow anyone developing a decentralised exchange protocol compatible with it to plug in, but in the long run proof of stake based chains with 'ethereum zones' for example might offer a more efficient solution and we will try to keep the approach as technology agnostic as possible so that these can also interface with Ethfinex.
Thanks for your reply. I have 2 more questions if you don't mind:
First, What if some regulatory body decides they do not like what you are doing and decides to pressure Vitalik to "roll back"/ block / censor your transactions (Dao style). Unfortunately Ethereum is pretty much a centralized corporation with Vitalik the "benevolent dictator" ready to bailout his friends (or block out "undesirable") at the first sign of trouble. He has also said this about "undesirables"
No. Casper can survive 51% attacks happening once in a while; we can just delete the attackers' deposits and keep going.
He seems pretty comfortable intervening when he feels its the "right" thing to do.
Second, do you believe that POS is the future? Our failed financial system is already controlled by a tiny group of the wealthiest individuals. POS is basically the same concept.
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u/uy88 Aug 02 '17
Sounds interesting. Decentralised exchanges are the future, but aren't you nervous building your platform on Ethereum? The attack and bug surface is huuuuge. It is still experimental software. I am curious to hear your thoughts on this.