The “decentralized exchange” often misleads users into believing nobody has control over their funds at any time – aside from themselves. More often than users realize, trading on a cryptocurrency exchange necessarily means lending your funds to the platform’s owner. When you want to withdraw funds, you essentially have to request that the platform release your funds back to you.
This isn’t the user-controlled system that many envision. It’s not the blueprint that Alex Wearn envisioned. So he and his team created Aurora, a decentralized exchange that puts the power back in users’ hands.
IDEX is a decentralized asset exchange on the Ethereum blockchain where smart contracts – not third parties – dictate the exchange of funds. Facing problems like the inherent latency of the blockchain, the Aurora team has crafted IDEX into a user-first platform where user experience, security, and automation aren’t exclusive.
Alex shares his thoughts on the hurdles facing decentralized exchanges as well as his vision for the future of digital asset trading. Give it a listen if you want to learn more!
About Alex: Alex is the CEO of Aurora. He has led software and product development teams at Amazon, Adobe, IBM and other industry-leading technology companies and has a dual MBA in Finance and Operations. He holds an MS in Design and Innovation from Northwestern's Kellogg School of Management.
About Aurora: Aurora is a collection of Ethereum applications and protocols that together form a decentralized banking and finance platform. Their goal is to provide an advanced, open, and stable financial network, accessible by anyone in the world regardless of geographic location or class status. They also have a stable currency, the boreal, which is backed by a combination of cryptocurrency reserves, debt, and retailer endorsements. The currency is available to customers via loans based on their digital economic reputation. Traders on IDEX, the network’s decentralized smart contract exchange, can utilize the boreal as payment for trading fees or as a stable base currency.
What you will learn in this episode:
- How smart contracts play a valuable role in decentralized exchanges.
- The value of hybrid decentralized exchanges.
- How IDEX and similar exchanges are giving users choice and flexibility in how they invest and trade.
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