Too Long; Didn't Read
Most cryptocurrencies trade hands today on centralized exchanges, hence the irony. Most exchanges are black boxes into which trusting users send their coins into which they receive electronic IOUs in return backed by nothing but the issuer’s reputation and name. But there is great irony in how blockchain-based assets trade-hands today; an irony whose mitigation is the basis for the growth in decentralized exchanges. The most energizing idea to blockchain entrepreneurs is eliminating middle-men, bridging trust gaps with cryptography, accelerating transactions, and slashing fees.