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A decentralized exchange (DEX) is a cryptocurrency exchange which operates in a decentralized way on a distributed ledger. One of the first DEX’s was launched in 2014 by the team behind the NXT cryptocurrency. Since then, a multitude of decentralized exchanges have launched but they are still very much in their early stages. 

Unlike centralized exchanges (CEX), which operate from centralized servers and are controlled by a central authority, DEX’s operate on a blockchain and enable peer-to-peer trading of cryptocurrencies. This is the primary difference between centralized and decentralized exchanges, but there are also many more:

Anonymity: Decentralized exchanges grant their users full anonymity, while centralized exchanges generally need to comply with KYC (know your customer) and AML (anti-money laundering) laws. 

Control of Funds: At centralized exchanges, users must trust their money to a third party. Their crypto funds are held by the centralized exchange, not the user. With decentralized exchanges, the user controls their funds as they make transactions directly from their personal wallets.

Hacks & Server Downtime: Centralized exchanges can be hacked and have downtime because they have central points of failure for hackers to target. Decentralized exchanges are impossible to hack because all participants are servers and if someone is hacked, the DEX will not notice and continue running. 

Open Source: A true decentralized exchange is completely open source so that anyone can open its code and see the algorithms and technologies it uses. With centralized exchanges, everything is privately owned and the user cannot identify what algorithms are being ran or technologies being used. 

APX Finance Integrates Solana Blockchain Deposits into Their V1 Trading Platform

8 Jun 2024 4 minute read 0 comments NasdaqNico

In the world of cryptocurrency and blockchain technology, innovation and integration are key to staying ahead of the curve. APX Finance, a leading decentralized finance (DeFi) trading platform, has recently made a groundbreaking move by integrating S...

What Are Liquidity Pools? DeFi Liquidity Explained

4 Jun 2024 3 minute read 0 comments CryptoManiaks

In the world of decentralized finance (DeFi), liquidity pools have emerged as a key component, transforming how transactions are conducted, assets are traded, and liquidity is maintained in the digital asset ecosystem. Here we take a closer look at t... Founders Release Second AMA, Unveiling Future Plans and Introducing USDN Synthetic Dollar

27 May 2024 2 minute read 0 comments Publish0x PRs

May 25, 2024 - Montreux, Switzerland -, a fast growing ecosystem in decentralized finance (DeFi), is excited to announce the release of its second AMA (Ask Me Anything) session. In this latest installment, the founders of provi...

Canary in the Coal Mine

24 May 2024 3 minute read 2 comments Jinno

    Monero makes transactions on Haveno fast, cheap and completely private. All connects between Haveno peers run through the Tor network Haveno aims to be easy to use especially for non technical people. There is no central authority. All trades ar...

HOP Protocol Architecture, Benefits, and TVL

24 May 2024 1 minute read 0 comments kostkond

Intro to HOP Protocol In this post we shall get to know the HOP Protocol, a DeFi cross-chain bridge outlined to encourage the consistent exchange of cryptocurrencies between distinctive blockchain networks. By utilizing HOP dapp, users can safely bri...

Phoenix DEX on Solana: A Technical Deep Dive into a Tokenless, User-Friendly DEX

22 May 2024 1 minute read 0 comments Cryptofab

As a tech-savvy crypto user, I'm always on the lookout for projects that push the boundaries of usability and innovation. Phoenix DEX, a tokenless protocol built on Solana, has caught my attention for several reasons: Tokenless Model (for now): Whil...

Find out how Steer’s infrastructure powers Web3 protocols to function more effectively!

22 May 2024 3 minute read 0 comments Greenchic

    Source  The process of building cross-chain dapps simplified using decentralised Protocols like Steer Today with protocols like Steer it is easier for developers to create cross-chain dapps. As with Steer, dapps can be built by writing code in n...

Equation V3: Opening a New Era of Perpetual Dex with 0 Trading Fees, Profit Rate Mining and Loss Compensation

16 May 2024 3 minute read 1 comment Publish0x PRs

(Singapore)   Equation, a leading decentralized perpetual protocol, is set to unveil V3 on May 13, 2024. With this update, Equation aims to reshape the landscape of on-chain perpetual trading by introducing revolutionary features such as ZERO tradin...

Is There Anything Stopping FX Or TERRA LUNA Happening Again?

15 May 2024 3 minute read 2 comments XTRM™

Today precious humans I am in a serious mood - I feel complacency is creeping into Crypto again - In the huge cyber world of cryptocurrencies, scandals have become somewhat of a common occurrence. Yet for many reasons some scandals just resonate far...

Sun Setting on Privacy?

7 May 2024 3 minute read 1 comment OfTheFreeMarket

“Privacy is one of the biggest problems in this new electronic age.” -Andy Grove The Need For Privacy Privacy is a necessity. Not many folks out there would say it’s even up for debate. Sure- some might argue that “we shouldn’t have anything to hide”...