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The Benefits Of A Self-Custody DEX

 
The Benefits Of A Self-Custody DEX
Exchanges / Breaking News
  • Ethan Fast has spilled all in a recent interview with CryptoSlate.
  • Fast shares how he got into the crypto space and what encouraged him to kick start the Nash platform.

Ethan Fast, the CTO and co-founder of the Nash platform, has spilled all in a recent interview with CryptoSlate.

The self-custody DEX has been gaining some significant movement and attention over the past few months so it’s sure to be an interesting take.

In the interview, Fast shares how he got into the crypto space and what encouraged him to kick start the Nash platform. He also spoke on the challenges of building a good quality user experience and where he sees the blockchain space going over the next few years.

This is a lengthy interview so we’re going to spread it across two articles. If you want to read the full interview click here, but we’re going to look through the highlights.

To start with, Fast spoke on his background in the space and how he got involved in crypto.

“I bought my first Bitcoin in 2011 but didn’t dive deeply into the technology until 2017. At that time I was most excited by the applications of smart contracts on Ethereum and wanted to understand better what sort of design space the technology made possible. Working in HCI, much like with startups, when you see a new technology, you tend to think immediately about how you might use it to change the way people interact with the world.”

The CTO went onto explain why self-custody is so important, stating:

“In its simplest form, custody is control. So self-custody means you control the asset. In almost every exchange that people use today, if you want to trade a cryptocurrency, you must give custody (and control) of that asset to an exchange. But this is terrifying because you have very little recourse if an exchange is incompetent or untrustworthy. If an exchange is hacked or steals your money, there is little the legal system (or anyone else) can do for you. Self-custody makes it impossible for an attacker or exchange operator to seize all your funds and vanish.”

For more news on this and other crypto updates, keep it with CryptoDaily!

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