Hyperliquid and similar exchanges aren't decentralized. That is their long term goal but they are very far from achieving it.
The few actual decentralized exchanges are too slow and expensive.
The few actual decentralized exchanges are too slow and expensive.
E.g. GMX on Arbitrum chain is no longer prohibitively expensive.
Left some comments here https://news.ycombinator.com/item?id=46172450
That's one of the sticking points I have with the /idea/ of the technology
> confirmation times are very long, like any other on-chain transaction
Yes. synchronisation is where everything breaks down because you have to get everyone to agree to the new state.
edit: Sorry, not everyone, but a consensus, and that consensus is then what everyone agrees is the state.
Key part:
> fully onchain perpetual futures and spot order books
> Importantly, HyperCore does not rely on the crutch of off-chain order books. A core design principle is full decentralization with one consistent order of transactions achieved through HyperBFT consensus.
https://github.com/hyperliquid-dex/node
"For lowest latency, run the node in Tokyo, Japan."
Decentralization means to run all of the closed-source nodes in the same AWS datacenter!
all you can do is run their visor, and they push out whatever proprietary blob they produce and restart "your" nodes at their command.