South Korea's Bithumb is considering a launch of a global decentralized crypto platform. Bithumb is now top 6 world crypto exchanges in terms of daily trading.
According to local media, the company has entered in the cooperation with One Root Network (RNT), a blockchain company that created R1 Ethereum-protocol. This protocol is said to be aimed at the decentralized token exchange.
As RNT commented in the press release:
"With the unique structure of R1 protocol, Bithumb and all future R1-based exchanges is able to share order data and liquidity, providing users with better trading depth and experience, and forming a globally distributed business system."
RNT's protocol features separating "order matching and order execution", which in fact make it more effective as compared other similar products. Applying R1 protocol South Korean exchange will reportedly become able to boost security and matching efficiency, which in its turn will boost user experience.
Notably, decentralized platforms do not hold clients' assets and thus they are less vulnerable to hacks compared to traditionally centralized exchanges. However, they are said to provide slower trading operations.