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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. 

The Solana Wormhole Hack - Details Coming Out

16 Mar 2022 2 minute read 0 comments R23

  What Happened? Well if you haven't heard, around a month or so ago, 98,000 ETH were stolen from the Solana Wormhole. This is essentially a decentralized swap service that allows users to exchange Solana for cryptocurrencies on other networks....

Symbiosis.Finance in Simple Terms. What's a decentralised multichain swap?

16 Mar 2022 3 minute read 1 comment dragon852

This article is not going to: - EXPOUND the biological definition of Symbiosis and expand into a lengthy master's thesis make use of flowery, juicy metaphors to PERPLEXINGLY explain what Symbiosis.Finance actually does NO!  Be straightforward!! Wha...

A Competitive DeFi Space: Is the rDEX Ready?

16 Mar 2022 4 minute read 0 comments RitabeII

Decentralized finance platforms were created to disrupt the financial landscape, eliminating the expensive middleman in the process. As exciting as that might sound, it’s not so easy. Traditional financial institutions have the edge thanks to a mammo...

A Beneficial Interaction Between Two Organisms in Close Physical Association

16 Mar 2022 4 minute read 1 comment cryptogod-1

Good day everybody, I hope you are all having a great day. Welcome to CryptoGod-1's blog on all things crypto. Today I will be doing a write up about Symbosis as part of the Symbiosisdefined Writing Contest here on Publish0x.     What is Symbiosis Th...

16 MAR 2022 (TUE)- Injective Protocol (INJ) Report Card

16 Mar 2022 1 minute read 0 comments quantdoge

Investment Disclaimer: I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only. Past performance presented here is not an indicator of future per...

📢 SpaceFi Testnet 2.0 👉 Multichain deployed, community driven platform with DEX, NFT, Starter and DAO on Celo & Evmos Cosmos

15 Mar 2022 1 minute read 0 comments FreedomBuilder

  ✨ Game Incubation: Explore space and more unknown planets, occupy or auction off planets and build your world and etc. 🎁 Total Reward : Each Discord ID, Twitter ID, Email address, Wallet address can get test coins once. 👉 Visit SpaceFi Testnet 2.0...

How to Swap Decentralized Liquidity Across Multiple Chains in 2022

15 Mar 2022 2 minute read 6 comments matrixmike

The past couple of years has been full of technological advancements in new and old decentralized blockchains. There have been major increases in transactions per second (TPS) among level one solutions like Solana (SOL), Avalanche (AVAX), Fantom (FTM...

Symbiosis Explained for Mommas, Poppas, Newbies and Dummies

15 Mar 2022 8 minute read 2 comments Pol Chain

For those who spend all day on the internet looking at acronyms, candlestick charts and red and green numbers, here is a simple guide so that your equal knows that you are not wasting time but making money. Or so I think… Mommas & Poppas - Mom, this...

Ways to Earn Money with DeFi

15 Mar 2022 3 minute read 0 comments CryptoManiaks

Decentralized finance, or DeFi, are financial apps that use smart contracts on the blockchain to bypass financial intermediaries. Users can lend, borrow, provide liquidity, trade cryptocurrencies, and earn triple-digit interest rates in this peer-to-...

First important decision if you start with cryptocurrencies

13 Mar 2022 2 minute read 1 comment The Crazy Dude

Hello again! Surely if you have reached Publish0x you no longer need this type of advice. If you are not yet a cryptocurrency holder and you are considering investing, then you should pay attention because many of us have gone through where you are g...