THE MARKET VALUE OF DECENTRALISATION
A prominent motivation for the use of cryptocurrencies is the system of exchange does not require a central trusted authority. In fact there are a class of decentralised exchanges where participants can exchange cryptocurrencies using a protocol rather than a centralized exchange. This analysis uses the failure of the centralized FTX exchange to estimate the value the market assigns to decentralised versus centralised exchanges. We find the market assigns a significant value to decentralisation.
Copyright (c) 2023 Matt Brigida
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