Centralized cryptocurrency exchanges emerged shortly after Bitcoin was introduced. At that time, people began trading Bitcoins on forums and IRC, which required a high level of trust between the parties to hold up their end of the bargain. With centralized exchanges, much of the trust is in the hands of managers and shareholders. Recent events have shown that centralized services can go bust, resulting in immense losses for asset holders. With the rapid development of blockchain and dApps, de...