NEAR Co-Founder Sees Shrinking Need for Centralized Exchanges
NEAR co-founder Illia Polosukhin stated that users increasingly have little need for centralized exchanges as onchain tools expand.
Users no longer require centralized exchanges for a significant portion of crypto activity as onchain tools continue to expand, according to NEAR co-founder Illia Polosukhin.
Speaking on the evolution of decentralized infrastructure, Polosukhin highlighted the growing capabilities of decentralized alternatives in handling everyday crypto transactions and interactions. The scaling of onchain tools allows users to bypass traditional intermediaries for various financial actions.
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Onchain Expansion
The comments reflect a broader industry push toward self-custody and decentralized solutions. As infrastructure improves, the reliance on centralized platforms for basic trading and transfers diminishes.
Key Facts
- Illia Polosukhin made the remarks regarding exchange usage.
- The expansion of onchain tools drives the shift away from centralized platforms.
Source: theblock.co
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