TL:DR

DEXs, or “decentralized exchanges”, are becoming an increasingly attractive alternative to centralized exchanges in cryptocurrency trades.

There is, at the heart of the CEX vs DEX dynamic, a fundamental divide; while big centralized entities suit traditional market logic, and can adapt these principles to fuel their own growth, they go against the fundamental principle of blockchain and cryptocurrency itself: private, peer-to-peer money.

There is a huge benefit here compared to HTLC swaps, other than the fact that it enables PART’s anon transaction type and other RingCT coins such as XMR to be atomically swapped: they do not rely on identical hashes that need to be inscribed on the participating blockchains.