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Crypto exchanges: Bridging the gap between sovereignty and performance

Published 07/11/2021, 12:11 AM
Updated 07/12/2021, 08:00 PM
Crypto exchanges: Bridging the gap between sovereignty and performance

Back in 2019, an estimated 99% of crypto-asset transfers took place on centralized exchanges (CEXs), according to the number that was used by main crypto critic Nouriel Roubini. CEXs are likely to remain a central fixture of the crypto trading landscape for the foreseeable future. CEXs are fast and convenient, but typically require traders to deposit funds in an account controlled by the exchange. Unfortunately, history illustrates that this loss of sovereignty over a user’s digital assets can be an extreme and costly compromise.

Decentralized exchanges (DEXs) offer an intriguing alternative and are gaining momentum, but are still not yet ready for prime time. Therefore, there must be a way to bridge the gap between user sovereignty and exchange performance.

Alain Brenzikofer is a co-founder of Integritee AG, a hardware-enabled confidential computing solution that combines blockchain and trusted execution environments. Active in blockchain since 2013, he contributed to the Quartierstrom peer-to-peer energy markets initiative and founded Encointer, a crypto-based universal basic income project. In 2020, he led the team that won the Energy Web Innovation Challenge for a project that used trusted execution environments for off-chain computation.

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