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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.
25 Sep 2019 8 minute read 3 comments Jeremy Wall
Anyone who’s taken the time to delve into this crazy world of crypto knows how expansive and revolutionary this industry is and it’s crazy to think of how far it has come. It all started in 2009 with the launch of Bitcoin as peer-to-peer electronic c...
25 Sep 2019 1 minute read 0 comments Zethyr Exchange
#Zethyrians, Thank you for the BIG SUCCESS in the last 5 days. Here is a recap of last week. Total volume: 17.9M TRX Total dividend: 35,124 TRX Total users: 134 users Support and Media Channels Please follow our official to get the latest news and...
19 Sep 2019 7 minute read 15 comments Jeremy Wall
If you’ve invested in cryptocurrencies or have at least followed this industry for some time, you’ve probably come to realize the massive potential and opportunity crypto and blockchain technologies present. It’s probably evident to you that this inn...
18 Sep 2019 1 minute read 4 comments Zethyr Exchange
Finanlly, after months of preparation, Zethyr Exchange is officially launching on TRON mainnet at 0000, 18 September 2019, Eastern time. In phase 1, we will support 3 trading pairs: $BTT/$TRX, $WIN/$TRX & $USDT/$TRX. More trading pairs will be availa...
11 Sep 2019 5 minute read 7 comments Jeremy Wall
Centralized cryptocurrency exchanges (CEX’s) like Coinbase, Binance, and Bitfinex make up an astonishing percentage of 99% of the total cryptocurrency trading volume. This is very puzzling when you take into account the fact that billions of dollars...
3 Sep 2019 1 minute read 1 comment Cal_tv93
So as some of you know I made a post about starting an exchange and what's going on all from the hard parts to the easy parts. Well, a lot has happened since the last post and this is more update on what's going on. My partner and I have been working...
31 Aug 2019 4 minute read 8 comments oneEyedJack
The crypto world went abuzz in February 2015 when the project formerly known as Darkcoin, Dash, introduced InstantSend and PrivateSend. The utility of masternodes had become apparent to end users by way of the fastest means of transaction at the time...
25 Aug 2019 1 minute read 2 comments Thiago Capuano
Waves DEX, the decentralized exchange of Wave Platform already works with coinomat gateway, providing support for some cryptocurrencies, but now it has innovated once again, starting to accept Etherium tokens, known as ERC20. We all know that the pr...
8 Aug 2019 7 minute read 13 comments viraladmin
If there is one thing that has been proven time and time again, its that centralized services cannot be trusted. Unfortunately most people don't heed the countless warnings and still allow their coins to be control by others. It began with Mt GoX wh...
7 Aug 2019 4 minute read 0 comments Abhijoy Sarkar
The prosperity of the crypto market has had a lot to do with the success of centralized/custodial exchanges (or, CEX). This seems ironic since decentralization is one of the founding pillars of crypto. Moreover, a long trail of hacks and scams from p...
