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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. 

Crypto World | Symbiosis and SIS Token | 23 MAR

23 Mar 2022 1 minute read 0 comments Joao16

1 | What is Symbiosis? Symbiosis is a decentralized multi-chain liquidity protocol, their purpose is to do cross-chain swaps allowing users to remain the sole owners of the funds. This means it is very easy to use because there is no need for an adi...

Symbiosis Finance: Multi-Chain Swaps Made Easy

23 Mar 2022 4 minute read 2 comments Aakasha

Symbiosis launched its mainnet beta recently, and a contest on Publish0x is a good reason as any to deep dive into it and give it a go. The DeFi world is constantly evolving, and every new product makes it just a little bit better and easier to use a...

A Relationship With Mutual Benefits

23 Mar 2022 3 minute read 1 comment clubby

Relationships. Some are beneficial to the people engaged in them. Some are born out of necessity. And there are even some that are crafted from Hell's forge (my marriage for instance!) Today I am going to tell you about a relationship that will allo...

Symbiosis - The Juggernaut of Decentralized Finance

23 Mar 2022 4 minute read 2 comments Defiant Pathfinder

In life do not aim to be just good but aim to be the greatest, always do what is extraordinary. If you keep it that way you will forever stay ahead of the competition and become the Greatest Of All Time. So if I was to be asked to define what is Symb...

7 Reasons Why Considering Symbiosis

23 Mar 2022 6 minute read 2 comments ben06x

Crypto is implemented as an anonymous method of payment in a decentralized way, with some coins trying to fight the inflation of life by having a number in circulation limited, others trying to be the next way of daily life payment by having low tran...

A comprehensive guide on Symbiosis (the missing link that we really want)

23 Mar 2022 10 minute read 2 comments qsyal

A need that must be met: When I first entered the cryptocurrency space a few years ago, I was told that I was going into a world of freedom, independence, and anonymity. There are no limits, no censorship, and most importantly, no central entity to i...

SymbiosisDeFined , Revolutionizing the way tokens are exchanged between chains through symbiosis

23 Mar 2022 3 minute read 0 comments gregoricordova

                                                    There are 2 very notable problems in the world of cryptocurrencies today and I am sure that any user, novice or veteran, has had to deal with them at some point in their adventure in the blockchain...

Symbiosis Finance: Welcome to the Future of Swapping

22 Mar 2022 2 minute read 1 comment Lizzihx

            Symbiosis is defined as “being an interaction between two different organisms living in close physical association, typically to the advantage of both.” (Oxford Languages) Replace “organisms” with cryptocurrencies and you have the next ed...

Why THORChain's Integration with Terra Luna is A Big Deal for Both BTC and LUNA Communities?

22 Mar 2022 5 minute read 2 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...

All You Need To Know About Symbiosis Finance - The Future Of Crypto Is Multi-Chain

22 Mar 2022 3 minute read 4 comments Cryptonator`s

I always thought and wrote that the future of cryptocurrencies is multi-chain. That's probably the reason why I am so excited about a project called Symbiosis Finance. Symbiosis Finance is a revolutionary DeFi cross-chains liquidity protocol that all...