{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/decentralized-exchanges",
 "identifier": "kaal:entity:decentralized-exchanges",
 "name": "Decentralized exchanges",
 "termCode": "decentralized-exchanges",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/decentralized-exchanges.md",
 "sha256": "fc650685e8a1b567e293ea37e026e16698770a1588083639d4c5c2c4d166abb9",
 "additionalProperty": [
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
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   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 2
  },
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   "@type": "PropertyValue",
   "name": "work_count",
   "value": 1
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2021",
    "2021"
   ]
  },
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   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3936876-018",
   "identifier": "kaal:claim:3936876-018",
   "text": "The unprecedented growth rate of decentralized exchanges may be an early indicator of increasing reliance on decentralized self-custody by retail users, but mainstream institutional adoption of digital assets is unlikely to materialize through self-custody and DEXs.",
   "abstract": "If anything, the DEX growth rate may be an early indicator of increasing decentralized self-custody reliance by digital asset retail users. Mainstream institutional investor adoption of digital assets, in turn, may not materialize via self-custody and DEXs.",
   "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
   "datePublished": "2021",
   "claim_type": "predictive",
   "confidence": "speculative",
   "is_failure_mode": false,
   "scope_conditions": [
    "as of late 2020 and 2021 DEX growth",
    "distinguishes retail from institutional adoption"
   ],
   "source_pdf_sha256": "9bc0903d01910460298e754c451f027df4324367359800a98ee8e638d94aff55",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3936876-037",
   "identifier": "kaal:claim:3936876-037",
   "text": "While the majority of cryptocurrency spot exchanges require ownership to be surrendered in order to transact, decentralized exchanges introduce the ability for users to transact without exposing their private keys to vulnerability.",
   "abstract": "While the majority of cryptocurrency spot exchanges require ownership to be surrendered in order to transact, DEXs are introducing the ability for users to transact without exposing private keys to vulnerability.",
   "citation": "Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876",
   "datePublished": "2021",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "comparison of centralized spot exchanges with DEXs"
   ],
   "source_pdf_sha256": "9bc0903d01910460298e754c451f027df4324367359800a98ee8e638d94aff55",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'decentralized-exchanges'. Derived node: a roster, not an adjudicated definition."
}