While the legislate efforts of various governments are quite heavily restricting the development of cryptocurrency market, one of the main inside hurdles to overcome is the centralized nature of the exchanges. The whole concept of cryptocurrency as a decentralized digital asset is restricted by the nature of the current exchanges as the companies who are, first of all, concerned with their profits and, therefore, aim to keep funds firmly on their platforms.
Kyber Network aims to correct this with their new decentralized exchange. Their ICO was a huge success, raising over 200,000 ETH in the public event on September, 2017. and now, they are ready to present the results of their work in an open beta. Closed beta test has been conducted with a limited user access, to better fish out the bugs in a controlled environment. And yesterday, starting on March 19th 3PM (GMT+8), the open beta phase with a full access was presented to the public. The developers encourage users to activate their accounts and start trading.
The main pros of the Kyber Network exchange are complete liquidity in trading any tokens and securities and increased security. The latter is achieved by the company itself not holding to any of the users' crypto. Of course, there is a reserve vault of digital currencies to ensure the aforementioned liquidity, but it will be managed by the independent “reserve managers”, whose purpose is to provide support for the trading pairs. They wouldn't monopolize the pair, of course, when there is a request to trade a certain cryptocurrency or token to another one, the automated system will look for the best possible rates and finalize the deal based on this particular offer.
The Kyber Network is a next step to a true peer-to-peer crypto exchange that everyone has been waiting for, but it remains to be seen, whether or not they will be as successful in their operations, as in their ICO campaign