Except that DeFi has evolved since then. Transactions on Arbitrum and Optimism are basically instant and cost cents (soon to be fractions of a cent with EIP-4844) while being as secure as Ethereum. ZK rollups are coming out now that are even better than them.
So you get speed, low fees, and full transparency and safety. There's a reason both Brian Armstrong and CZ have said they see DeFi replacing their exchanges eventually.
You surely mean to say "basically instant" (with a 7 day period where your transactions can be challenged)? The asterisk seems kinda important to me.
Also, promising my half-assed project will be perfect by the time the finals roll around stopped working in the real world when I graduated from high school. Seems like only in crypto world it's acceptable to judge technology for not what it is but what it dreams to be.
7 day challenge doesn’t exist for ZK rollups because they can be verified instantly through their fraud proof. Yes, right now if you use optimistic rollups there is a dispute window but I expect next time the bull market comes around we won’t be using them as much.
I would recommend saving your optimistic opinion for the next bill run, then, when the ZK rollup is actually built. My comment that people used FTX because FTX is the fastest and cheapest option they had still holds.
So you get speed, low fees, and full transparency and safety. There's a reason both Brian Armstrong and CZ have said they see DeFi replacing their exchanges eventually.