# Why Avici?

Bitcoin was created in [2008](https://www.youtube.com/watch?v=vgqG3ITMv1Q), when people where getting screwed by the Big banks. Its genesis block on January 3 2009 contained the text " Chancellor on the Brink of Second Bailout for Banks"&#x20;

Bitcoin's main purpose was to build a peer-peer cash system & eliminate the need for a central bank. At the time of this writing, Its Jan 1st 2024 and Centralised exchanges lead the way for crypto adoption. Centralised exchanges controls your keys & hence control your funds, exactly like a bank, everything bitcoin stands against.&#x20;



[Looking at data of 2022](https://www.coingecko.com/research/publications/2023-q3-crypto-report),&#x20;

* Centralized Exchanges (CEXs): The total trading volume (including both spot and derivatives) for the top 10 centralised exchanges reached approximately $40.867 trillion in 2022.
* Decentralised Exchanges (DEXs): Decentralised exchanges executed a total trading volume of $854 billion in 2022, with the volume coming from 5,687,713 unique trading addresses

So, Centralised exchange volume was almost 47x or 4,785.36% more than Decentralised exchanges.&#x20;



**Why is that?**&#x20;

* Centralised exchanges are very easy to use, supports multiples networks, are complaint (in some countries)&#x20;
* Decentralised exchanges expect people to setup and manage their own keys with seed phrase, figure out what gas is and pay network fees, doesn't support all networks, tokens & moving between networks (bridging) is very technical.&#x20;

Avici main purpose is to eliminate the need for a centralised exchanges while solving for User experience, Compliance & privacy.&#x20;



<figure><img src="https://1182750486-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FtgPvMnsc1tsAWfgvNkGf%2Fuploads%2FzhduuTCEAQdKdm90dUOd%2FScreenshot%202024-01-01%20at%2013.44.46.png?alt=media&#x26;token=73d19f34-0dd3-43c5-9c07-09e2237b23d7" alt=""><figcaption><p>ref: <a href="https://vitalik.eth.limo/general/2023/12/28/cypherpunk.html">https://vitalik.eth.limo/general/2023/12/28/cypherpunk.html</a></p></figcaption></figure>



