Central encryption exchanges can disappear over the next decade with the assumption of decentralized financing complexes (DEFI), according to the co -founder of 1inch Serge Konz.
In an interview with Cointelegraph in Tokeen2049 in Singapore, KUNZ expects that exchanges will slowly move to an introduction to decentralized exchanges (Dexs). “I think it will take from five to 10 years,” he said.
Konz has argued that although central exchanges are isolated markets, 1inch and their complex are a global liquidity center. His comments came when 1inch announced a deal with Coinbase Major US Crypto Exchange, and her service was integrated to supply DeX with trading to its users.
Konz said that investments in the onchain systems through the central stock exchanges show their understanding that the technology they depend on “will not remain forever because you have decentralized exchanges and digital financing.”
“They do not want to miss the train and stay behind them, and they adopt our technology, because it is something, from our point of view, it will enable the entire financial industry,” he said.
Related to: Dethrones Hyperleiid with a rise of $ 1.25 billion in open interest
1 axes to the infrastructure provider
The report follows this week’s announcement by 1 inch that it changed its business model to become a Defi infrastructure provider, focusing on providing access to other companies. With the transition, 1inch aims to facilitate the dependence of the non-trusted bodies through the major central exchanges-with a mention specifically Binance, Coinbase, LEDGER, Metamask and TRUST portfolio in the advertisement.
Konz said that the protocol united its products in the one -application programming interface (API) for developers. He pointed out that most of the platform’s work now comes through the API integration instead of its front end, which is the trend held for about a year.
Related to: Defi Platfor plans
1inch continues to bet
In August, 1 inch operated the intention to connect Solana and Ethereum Virtual Machine networks, providing maximum protection of extractable value. In June, 1inch published an update for the algorithm discovering its price path, claiming better exchange rates of up to 6.5 %.
About a year ago, 1 inch has also provided a feature that enables users to switch their digital assets while maintaining the autonomous body.
magazine: How can the ETHEREUM Treasury “Defi Summer 2.0” excite
The post Exchanges Will Be DEX Frontends In 5-10 Years: 1inch Co-founder first appeared on Investorempires.com.
