DEX

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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. 


Symbiosis

19 Mar 2022 1 minute read 0 comments Jcvols

Have you ever needed to swap tokens from one blockchain to another? Of course you have, everyone has at some point. Well, with Symbiosis, you can now do just that in a very quick and simple manner. Just one look at the website's homepage, and you'll...

A Deep Understanding Of Symbiosis Finance

19 Mar 2022 6 minute read 0 comments RitabeII

Everything You Should Know About Symbiosis Finance  The digital token ecosystem is growing daily. New platforms with different merits to offer its users emerge the crypto space. Unfortunately, none has been able to satisfy user's cross-chain exchange...

Symbiosis - Cool concept, cool website, cool experience

19 Mar 2022 3 minute read 1 comment LearnMeGood

I've been reading a lot about Symbiosis Finance lately.  It's the new kid on the crypto scene, billed as a super easy way to trade coins across platforms.  Or, in more technical terms, as their frontpage says: So let's talk about their name first. ...

How to Do a Decentralized Cross-Chain Token Swap using Symbiosis Finance

19 Mar 2022 3 minute read 5 comments orbithunter

Perhaps you have already tried exchanging tokens from different blockchains using crypto exchanges. However, most of these crypto exchanges are centralized and often have KYC requirements before you can use them. One way you can skip the centralized...

Symbiosis Finance: Key Points About This DEX and liquidity protocol

18 Mar 2022 1 minute read 2 comments The Crypto Crazy

You've probably heard of PancakeSwap or Uniswap. Both are decentralized exchanges, that is, exchanges that run within the blockchain itself, without the centralization of large exchanges such as Binance and Coinbase. In addition, these exchanges have...

Decentralized swap of any token across multiple chains is opening the path like a pioneer in the unknown. 

17 Mar 2022 3 minute read 2 comments vest1992

Decentralized swap of any token across multiple chains is opening the path like a pioneer in the unknown.    After a huge break from online, like fasting so I cultivate the power within, I came back and I saw that we have another contest rolling in,...

16 MAR 2022 (WED)- Thorchain (RUNE) Report Card

17 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...

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...