Digital currency exchanges are the most profitable links in the digital currency industry chain. According to estimates, the annual transaction fee income of leading exchanges such as Binance can reach 1 billion US dollars.
At present, the total daily transaction volume of global digital currency is about 80 billion yuan, which is only 1/6 of the peak period in early 2018. Globally, there are 188 digital currency exchanges that still generate transaction volume. Among them, there are only 14 leading exchanges with a daily transaction volume of more than 1 billion yuan, while 82 are less than 10 million yuan in total, accounting for 43.6% of all exchanges. Many exchanges are facing the situation of making ends meet, and some small The exchange has been disbanded, and the Matthew effect of the digital currency exchange is becoming more and more obvious.
Centralized exchanges are the most efficient form of transaction medium, but the issues of capital security and transaction security have been widely criticized. Large-scale centralized exchanges have access to digital currency trading channels and have great power. They have a lot of room for evil against project parties (such as huge listing fees) and users (fraudulent transaction volume and transaction depth).
Decentralized exchanges can ensure the privacy of transactions and the security of users' funds, so they are generally considered to be the form of exchanges in the future. Large centralized exchanges such as Binance have also begun to transform to decentralized exchanges. However, the traditional decentralized transaction matching is inefficient, and links such as placing orders, canceling orders, and transactions must be broadcast and recorded on the entire network. At the same time, a lot of fuel is consumed, and the user experience is poor.
In the face of fierce competition, digital currency transactions need to pay attention to the following aspects:
· Qualifications and Compliance. Governments around the world are increasingly regulating digital currency transactions, and the lack of business qualifications will bring hidden dangers to the normal operation of exchanges. Obtaining operational qualifications and compliance procedures will help the exchange continue to operate and gain the long-term trust of users.
· Platform security. The asset and information security of the platform is the foundation of a centralized exchange. According to statistics, the security team of the exchange accounts for an average of 13% of the total team, and the exchange security matters spend an average of 17% of the budget. The safe operation of the platform requires both strong technical strength and rich operational experience.
· Traffic operation and user experience. User traffic is the guarantee of the liquidity of the exchange. In order to reduce traffic costs and ensure user stickiness, more efforts should be made in overseas online and offline community operations, introduction of high-quality projects, project forum construction, product form innovation, and user experience improvement. .
· Professional financial productization capabilities. The trading rules of financial derivatives are complex and the trading risks are high. To carry out financial derivatives business transactions, a very professional financial derivatives product research and development team is required to be able to formulate trading rules and prevent frequent platform security incidents, even like BitMEX. Constantly innovating product forms, attracting a large number of users to flock to Bitcoin transactions.
· Decentralization. Decentralized exchanges can avoid many drawbacks of centralized exchanges and ensure the safety of the transaction process and user property. It is the future form of digital currency exchanges. With the continuous maturity of technology, the decentralization trend of digital currency exchanges will not be possible. avoid.
It is difficult to say whether the determination and speed of the exchange itself will be enough. A number of new decentralized exchanges are emerging. In the future, the competition between the old and new forces in the decentralized field is likely to determine whether the status of the existing leading exchanges can be maintained.