Publicação
Cryptocurrency Exchange Adoption: Influence of Decentralized Exchanges
| Resumo: | This study looks at the impact of decentralization in cryptocurrency exchanges, evaluating whether there are differences between centralized and decentralized platforms. Decentralized exchanges are becoming more important in the world of cryptocurrency, representing the true purpose of crypto exchanges. However, centralized exchanges still dominate the market, holding 90% of the share. Decentralized exchanges give users more security, control, and transparency by removing the need for middlemen. Unlike centralized exchanges, which hold users’ assets, DEXs let users manage their own funds, reducing risks related to trust and central control. Despite these advantages, there are big differences between centralized and decentralized exchanges that have not been fully studied, especially using the UTAUT2 model. The findings show that, even though there are some differences between decentralized and centralized exchanges, users don't see much of a difference in how they perform, how easy they are to use, or how much they trust them. This suggests that users may see both types of exchanges as offering similar practical outcomes. |
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| Autores principais: | Cardoso, Valentim Galinha |
| Assunto: | Cryptocurrencies exchanges Centralized exchanges Decentralized exchanges Utaut2 SDG 8 - Decent work and economic growth SDG 9 - Industry, innovation and infrastructure |
| Ano: | 2025 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| Resumo: | This study looks at the impact of decentralization in cryptocurrency exchanges, evaluating whether there are differences between centralized and decentralized platforms. Decentralized exchanges are becoming more important in the world of cryptocurrency, representing the true purpose of crypto exchanges. However, centralized exchanges still dominate the market, holding 90% of the share. Decentralized exchanges give users more security, control, and transparency by removing the need for middlemen. Unlike centralized exchanges, which hold users’ assets, DEXs let users manage their own funds, reducing risks related to trust and central control. Despite these advantages, there are big differences between centralized and decentralized exchanges that have not been fully studied, especially using the UTAUT2 model. The findings show that, even though there are some differences between decentralized and centralized exchanges, users don't see much of a difference in how they perform, how easy they are to use, or how much they trust them. This suggests that users may see both types of exchanges as offering similar practical outcomes. |
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