What is Decentralized Peer-to-Peer Trade (DP2PT)?

In financial transactions, there has often been a medium to enable the processes to be smooth. However, such third parties sometimes end up lengthening the operations, which in turn drives up the costs. The third party is quite common in most cryptocurrency exchanges which fall in the hands of companies. As these companies have to make some profit from the transactions so that they can pay their employees and other running costs, they charge a fee on all monies passing through their systems. As such, the process becomes encumbered with high prices and considerable waiting periods.

Decentralized exchanges, on the other hand, make it possible for two people in the market to deal with each other on a direct basis, devoid of the need for a third party. They take place using software, and as such, no human intervening is necessary. Though there are some downsides to this strategy, users attest that the advantages outweigh the bad and thus, the system is here to stay.

Many businesses embraced this new way of fast and cheap transactions, with online casinos (some of top ones here - bestonlinecasinooffers.net ) leading the wave, followed by online stores and even government institutions accepting cryptocurrencies

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How do trades take place?

To understand the upside to this system, we must first delve into how regular trades take place at present. First off, someone wishing to sell their cryptocurrency will input the amount they want to part with as well as the proceeds that they expect from the exchange. This sale order will then appear in the system and will get processed once a buyer comes into the market and finds the offer appealing. In some cases, a buyer may come in and lack what they wish to buy, and they will thus create their order, specifying what they would like and for how much.

As you can see, the waiting time can vary as there is a need for two matching orders for a transaction to get completed. Once two offers are in agreement, the third party processes the amounts and sends out the cash rewards to each party. The operations get thereby left in the company’s system, and the third party will have to await the completion of the transactions. This whole procedure could take up to a week to come to an end.

In the case of the decentralized system, buyers and sellers place their orders, much like the case with the first system. However, once matches come about, the system redirects the entire process to the parties, thus eliminating the need of an intermediary. As such, the process takes place in a faster manner and is economical to all parties involved. The only time that a third party comes into the scene is when there is a dispute, and there is a need for an agreement. Otherwise, the system can handle all the tasks on its own.

Benefits of this system include but are not limited to scalability, privacy, ease of use and fairness. We believe that this is only the icing on the cake and there are more benefits in store for us in the future.