Ledger Cast Looks Under the Hood of Decentralized Exchanges

Ledger Cast, the cryptocurrency trading and blockchain podcast hosted by Brian Krogsgard and Josh Olszewicz, opened its latest episode with a rundown of the week's main stories. The top item was Circle's acquisition of the exchange Poloniex. The hosts also looked at the Goldman Sachs angle, and the show notes link to a separate piece on the crypto risks the bank faces.

The episode also covered a lawsuit against Craig Wright, who has claimed to be the pseudonymous creator of Bitcoin. The show notes point listeners to a WizSec analysis of Wright's claims, which the hosts treated as a useful companion to the case.

A good share of the discussion went to technical analysis. The hosts argued that traders should regularly challenge their own indicators, especially when two signals point in opposite directions, and should question the settings they use instead of accepting defaults. Their point was that an indicator is only as useful as the assumptions behind it.

The main topic was decentralized exchanges, or DEXs. The hosts looked at why these platforms exist, how trading is meant to work without a central operator holding user funds, and which projects stand out. Those named include 0x (ZRX), Airswap, Ethfinex by Bitfinex, Republic Protocol, Radar Relay, and Bancor, along with platforms such as Waves, Bitshares, Stellar and Counterparty. Liquidity came up repeatedly, since a DEX is only as useful as the trading activity flowing through it. The hosts also weighed the drawbacks of the model.

The episode is educational and is not investment advice. Listeners who want to act on anything discussed should do their own research first.