The Stellar decentralized exchange: Stellarport is now up and running. While the Stellar Distributed Exchange has been active for a while, Stellarport is a convenient all-in-one solution which even offers a wallet.
A decentralized exchange is a distributed exchange where users anywhere in the world are able to hold their own funds and trade them with other people as and when they like.
With this type of system, there is no 3rd party or intermediary that holds funds on behalf of a user. The Stellar decentralized system is unique compared to others as there is only one official exchange that holds the listings, however, it is not limited in how it is accessed.
This is very beneficial to its users as it combines the benefit models of a centralized exchange with those of a decentralized exchange effectively giving users access to large trading volumes with deep liquidity as well as the benefits of cost effectivity and security as the funds are not entrusted to a third party.
Stellars’ volumes have increased significantly increased since the launch of Stellarport, so it would appear that users have taken to it very quickly.
Stellar seems to be planning on focussing on its decentralized this year and systems like Stellarport could certainly assist in strengthening the ecosystem. Many Altcoins are looking to detach themselves from the impact Bitcoin has on the markets and this unique concept of a “central” decentralized exchange could potentially be the start of the journey towards total detachment.
Do you think Stellarport and Stellars’ decentralized exchange is an effective tool? Comment your thoughts below!
Tiaan Wolmarans is a cryptocurrency investor and trader, airplane pilot, musician, and writer.
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