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EOS is equal to Ethereum in the battle of decentralized exchange

Who currently uses decentralized exchanges to exchange these days? The answer is, almost none, according to a new report by TokenInsight, an independent blockchain research company. While decentralized trade accounts for 19 percent of all operational exchanges, the paper said, they make up only 0.8 percent of the trade.

Yet despite the tiny figures, EOS, and its mainnet that launched last year in complete chaos, has become a hub for a slew of new decentralized exchanges. And this could push those numbers upward.

Historically, the largest decentralized platforms-IDEX and ForkDelta-were sitting on the Ethereum network, launched in 2015. But the speed of the network for the processing of exchanges, dictated by the time of creation of 14-second blocks, is slow compared to the his centralized cousins. EOS, meanwhile, which launched last summer, creates blocks every 0.5 seconds, which has helped to collect many new decentralized exchanges. In fact, according to the report, there are now an equal number of decentralized exchanges based on EOS and Ethereum.

The report also indicates a token peak listed on EOS. At the end of 2018, 2,859 projects were listed on the platform. TokenInsight suggests that the increase is due to new tokens that find it difficult to be transported to centralized plants, which leads them to find lists on decentralized EOS platforms.

Among the biggest winners is Newdex, which accounts for 75% of transactions on EOS. (DEXEOS was initially popular but now represents only a share of the market share). As more platforms were created, the volume of trade grew. In the fourth quarter of 2018, trading volume was four times higher than in the previous quarter, when EOS had just launched. However, daily volume peaked at around $ 7.5 million on all EOS-based platforms and has since declined to $ 2.5 million at the end of December.

While they seem to be head-to-head in terms of decentralized trading, "Ethereum-based tokens still dominate the market in terms of volume and trading volume," the report concludes. Although it seems that the first advantage of Ethereum in the first mover is unlikely to be overturned soon, EOS is the new guy on the block who could help decentralized exchanges to fulfill their promise without trust and less hackerable.

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