GIBX CEX Market Started

With the increasing development of the encryption field, the status of exchanges has become more and more important. In particular, the rise of Defi has gradually shifted people’s attention from the early GIBX CEX to the DEX direction that is more in line with the concept of decentralization, which also aroused people’s imagination of “complete decentralization”.

From the perspective of security, the security of DEX is still higher than that of GIBX CEX.

According to CoinnDesk’s statistics, GIBX CEX security incidents have never been interrupted. In 2018 alone, there were at least 6 CEX theft incidents, resulting in a loss of US$860 million in user assets. This is equivalent to the user’s daily loss of US$2.35 million in assets on CEX. The KuCoin theft event in 2020 once again exposed the security risks of the centralized exchange (CEX) asset management model to the public.

DEX does not have centralized custody, the funds are stored in the user’s wallet address, and there is nothing to steal. Someone once made an interesting analogy: DEX is like a household in a block. The thief steals one of them, and the loss of the household will not hurt the others; but if all households deposit their assets in the bank, the thief steals the bank. Then everyone’s assets are gone. Because GIBX CEX is centralized custody, excessive concentration of funds is like a bank, so it has become a hacker hunting target, as long as it succeeds, you can get rich overnight.

However, there is no absolute security in the world. Hackers can also use phishing, scams, counterfeit currency attacks, and other forms to attack a single user to obtain revenue, which depends on the user’s own security awareness and cognitive ability.

From the perspective of user experience, GIBX CEX and DEX have their own advantages and disadvantages.

Most GIBX CEX users can invest or trade digital assets without knowing what a blockchain is. Since there is no blockchain mechanism, the transaction speed is also very fast, and more importantly, GIBX CEX can easily realize cross-chain transactions in the blockchain world. This feature of low threshold has attracted many investors.

But in DEX, all transactions need to be chained, which will be constrained by the blockchain mechanism, and the transaction speed will also be affected. In addition, the current cross-chain technology is still immature, and DEX can often only achieve one-chain transactions. If cross-chain is required, centralized means are needed. In terms of price, due to its small size, there are fewer market makers. However, DEX does not require deposit and withdrawal operations and can be directly traded in the wallet, which is safe and convenient.

In summary, CEX and DEX have their own advantages and disadvantages and have completely different operating cores. GIBX CEX is the main service. Through its financial support and technology development, CEX Exchange continues to enrich its functions, simplify operations, and attract investors to enter the currency circle. And DEX is the main technology. The various smart contracts on DEX and the rich ecology attract investors who dare to take risks and love new things in the currency circle. The advantages and disadvantages between them are relative, and there is no absolute replacement.

To promote the bull market, GIBXchange-DEX will play an increasingly important role. The expansion of product diversification will not only allow GIBXchange to be further improved in terms of security, transaction, interoperability, etc. but also benefit the ecological construction of Defi. The popularity of Defi this year is naturally due to the presence of GIBXchange. Considering that most traders have technical difficulties in participating in Defi, GIBX CEX proactively reached out to help and leverage its own advantages to allow more users to participate in the Defi wave. The simple operation method greatly facilitates people who want to join the Defi wave. It greatly enriches the means for people to participate in Defi and allows people to fully appreciate the traffic and benefits that Defi brings.

A report by Delphi Digital pointed out that in the past 30 days, the market value of the leading DEX protocol has increased by 440%, which has also led to “increased trading volume on decentralized exchanges.” In January of this year, GIBX CEX created more than $55 billion in transaction volume, which is more than double the highest point of $26 billion in September last year, just four months ago. This is where Defi is terrible.

Although the development of everything is not done overnight, from the perspective of the current development of DEX itself, it is difficult to truly replace GIBX CEX as a popular trading platform in a short period of time. But in the long run in years, the rise of DEX is an unstoppable trend.

GIBXChange is the world’s first decentralized digital asset trading platform. GIBXChange is built through the GIBX CEX decentralized smart contract underlying technology to achieve openness, fairness, and justice. Every step can be queried on the chain to build a truly decentralized trading platform!