NEAR co-founder says onchain tools are reducing demand for centralized exchanges
Illia Polosukhin, a co-founder of NEAR, believes centralized exchanges are becoming less necessary for many crypto activities. He pointed to the growth of onchain tools as a reason users can avoid those platforms. His comments suggest a shift in how crypto users may access services.
Illia Polosukhin, a co-founder of NEAR, suggests that centralized exchanges are becoming less essential for many cryptocurrency activities. He links this to the expansion of tools that work directly on blockchains, which can let users access services without those platforms. His comments point to a possible shift in how crypto participants obtain and use offerings, with less reliance on intermediaries that traditionally played a central role.
If this trend continues, crypto users could gain more direct control over assets and rely less on intermediaries, potentially changing expectations around custody and convenience. Exchange operators and related businesses may face pressure to adapt. Regulators and consumer advocates might examine whether onchain alternatives provide comparable protections. The wider public may feel effects indirectly, through how digital asset services evolve and how risks are handled. These outcomes remain uncertain and depend on adoption, usability, and safeguards.