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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.
2 Nov 2022 2 minute read 0 comments MetaTdex
On October 24th, Eastern Time, MetaTdex successfully obtained a United States MSB license (Money Services Business), and that will help MetaTdex to further its global compliance strategy. This license is a financial license approved and issued by Fin...
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21 Oct 2022 4 minute read 1 comment Equilibrium
With 10,000+ applications, 23 teams, and an excellent campaign, the Equilibrium Closed Beta was a success! Congratulations to all the teams and individuals who won in their categories. We’re pleased with the phenomenal reception our Closed Beta recei...
21 Oct 2022 2 minute read 0 comments MetaTdex
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As many of you know, we have been building El Dorado Exchange for quite some time now and have been going through an iterative testing procedure in order to ensure the DApp is at a functioning level. Due to the success of our testnet testing, we ar...
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Here is Your chance to go out for a walk and earn crypto! Biswap Global Hike Challenge. Have you ever thought about how cool it would be to go for a walk, have fun, visit a special place and still have a chance to earn cryptocurrencies? It is poss...
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Biswap new Double Launchpool arrived - Earn BSW and WBNB with nice APYs Keep earning great cryptocurrencies while staking BSW! Join Biswap Today: https://biswap.org/?ref=4b4acf382949064f15bd Here is a new chance to accumulate good cryptocurrenci...
10 Oct 2022 3 minute read 0 comments El Dorado Exchange
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In crypto, the buying, selling, or swapping of crypto coins and tokens often takes place in Centralized or Decentralized Exchanges. Each of them represents a specific world inside the crypto space which enables users to manage their assets as they se...
