In an interview with crypto.news, Akshay Nassa, CEO of Chimp Exchange, explored the evolving dynamics and challenges facing decentralized exchanges today.

Centralized exchanges (CEXs) such as Binance and Coinbase currently dominate the cryptocurrency trading landscape. These platforms facilitate the vast majority of crypto transactions globally, offering a range of services that attract both novice and experienced traders. 

Their structured, regulated environments provide a sense of familiarity and security similar to traditional financial systems, which appeal to a broad user base.

However, the centralized nature of these exchanges has raised security concerns, underscored by frequent security breaches and regulatory challenges. Such incidents have highlighted vulnerabilities …