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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. 

An Introduction to SushiSwap (SUSHI)

19 Jan 2022 2 minute read 3 comments Zacharias

  19 January 2022: SushiSwap is an automated market maker (AMM) built on the Ethereum network that is the result of a fork form Uniswap's open source code. Launched in 2020 and serving as a direct competitor to DeFi's largest exchange, SushiSwap has...

Serum SRM: An Order-book DEX and Cross-chain swaps on the Solana and Ethereum blockchains

18 Jan 2022 3 minute read 0 comments 2sats

*obligatory not financial advice*   What is Serum? Serum is a decentralized exchange that runs on the Solana and Ethereum blockchains. Decentralized exchanges are currently very limited with their features and are in no shape to fully replace decentr...

How does a DEX work?

18 Jan 2022 3 minute read 9 comments

hey mates! I would like to talk about how DEX are working now. The idea behind Sometimes you have thought how the DEX can change several tokens if the DEX is not a bank. Where is the funds coming from? Easy, from the liquidity pools. The DEX itself h...


18 Jan 2022 1 minute read 0 comments Joao16

For more content like this tip me if you can! thank u :)   As Bitcoin continues its slow downtrend, it's time to study new projects or study even more projects that you already know. With that thought, I make a list of some Altcoins that I think have...

The first DEX arrives at Cardano

17 Jan 2022 1 minute read 7 comments avro

It finally looks like we have a winner in the race to become the first DEX on the Cardano blockchain. This next Thursday the 20th, they will launch the SundaeSwap beta with all its operational functions. At the same time, as of January 25, those who...

Alium.Finance: 2021 Victories and Ambitious Plans for 2022

17 Jan 2022 2 minute read 0 comments Crypto Guys

Time flies by unusually quickly, and we have already entered 2022, where even more victories and achievements are expected for Alium.Finance, a multi-blockchain decentralized AMM exchange with NFT’s. The project does not stand still and continues to...

Centralized Exchanges(CEX) vs Decentralized Exchanges(DEX)

17 Jan 2022 11 minute read 0 comments cryptogod-1

Good day everybody, Welcome to CryptoGod-1's blog on all things crypto. Today we are going to look at some of the main crypto-based exchanges and the main features each has to offer its users. While most are based on the same idea and have many simil...

Why I'm bullish on

16 Jan 2022 2 minute read 0 comments SouthEastCradle

(This essay was previously posted on r/Banano.)   Decentralization. It's the word, the system, the trend that has been supported by the cryptocurrency community in general since the inception of Bitcoin in 2009. However, with the most recent state o...

DeFi vs CeFi

16 Jan 2022 5 minute read 0 comments SimpleHold

What is DeFi? DeFi (or “decentralized finance”) is a system that allows the financial sector to exist without intermediaries and all people to use it the most efficient way. It is the thing that removes anyone in the middle when parties make financia...

SUSHI: A Bentobox of DeFi Applications with a Controversial Launch

14 Jan 2022 5 minute read 3 comments 2sats

*obligatory not financial advice*   What is Sushiswap? Sushiswap started as a fork of the Uniswap DEX. The only difference was that it had its own token before Uniswap did and this governance token let its holders earn a part of the trading fees. The...