Ethereum update: The DutchX is paving the road towards a fully decentralized exchange
The DutchX is paving the road towards a fully decentralized exchange.
Current decentralized exchanges are not living up to what they promise. They incline to be non-custodial protocols that, apart from guaranteeing a safer scenario for fund storage, are prone to [cheating and lack liquidity.](https://blog.gnosis.pm/the-main-benefits-of-the-dutchx-mechanism-6fc2ef6ee8b4)
The DutchX is taking it several steps further by providing an open trading protocol that, by design, attracts liquidity, guarantees fair prices, and eliminates any form of front-running by not relying on an order book model.
The DutchX is currently being designed and built by Gnosis, but has a clear objective to become fully decentralized and governed by a Decentralized Autonomous Organization (DAO), capable of adjusting smart contract logic, modifying parameters, and more.
Learn more about it in [this blog post.](https://blog.gnosis.pm/the-road-towards-a-fully-decentralized-exchange-56a32adbe7d7)
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
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