The Bitshares DEX was created to provide robustness against failure and to prevent cases like Mt. Gox, and now this...
Yes your read it right — $400 million dollars stolen from another centralized exchange.
It is mind boggling that people still trust centralized exchanges, but the more we see scenarios like the one we are reading about, the more people will want to look for safer and better solutions against theft in the financial world. Luckily, we have the Bitshares decentralized exchange, better known as the Bitshares DEX. There is no safer place where to hold your funds than a place where you alone hold the keys to your account, secured with the strongest cryptography available.
Here is a brief excerpt from the website describing the Bitshares DEX:
BitShares provides a high-performance decentralized exchange, with all the features you would expect in a trading platform. It can handle the trading volume of the NASDAQ, while settling orders the second you submit them. With this kind of performance on a decentralized exchange, who needs risky centralized exchanges?
Throughout history, centralized exchanges have repeatedly proven unreliable and untrustworthy. Whether it is MF Global, Mt. Gox, or BitStamp, many people have been cheated because they allowed a 3rd party to hold their funds. It doesn’t matter how big they are, or how many auditors, regulators or insurers are involved, every kind of fraud, abuse, and theft can occur. In the modern financial system, these transgressions happen all too frequently within centralized banks and exchanges operating across the world. It is time for a change. Keep reading to learn about the benefits of using the world’s first fully decentralized exchange, BitShares.
You can find the ZeroHedge article here.
You can read more about the Bitshares DEX here.