1,324 Articles 87 Followers
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.
20 May 2021 1 minute read 2 comments EatTheBugs
You'd think that DEX's like PancakeSwap would recognize that to stop a flash loan you need to have solid, accurate Oracles to get accurate prices for liquidity providers (BNB-BUSDT / BNB-BUNNY in this case) many of them have happened in our space sin...
18 May 2021 1 minute read 2 comments Defiant Pathfinder
In this article i am going to talk about 4 Decentralized Exchanges (DEX) which seem to be the best and promising out of the rest. We have about 63 DEXs but i came up with only 4, so i am going to explain why i see these as the best and promising. Wha...
18 May 2021 4 minute read 38 comments ben06x
Since the explosion of Dogecoin all over the social networks, a new coin, Shiba Inu (SHIB), nicknamed the "DOGECOIN KILLER", has come. But can this coin, also based on a meme token, really contest against DOGE? What Is Shiba Inu (SHIB)? SHIB is th...
17 May 2021 4 minute read 6 comments Gongo
With the rising popularity of memecoins after the meteoric rise of Dogecoin, we are seeing a lot of random coins and tokens pop up all over DEX platforms. The promises are enticing… 10x, 100x, even 1000x value is being marketed with a great majority...
16 May 2021 1 minute read 2 comments DaniBom
During the last months, L2 solutions for scaling Ethereum (mostly) and Bitcoin have been a hot topic; due to the increase usage of cryptocurrencies, DeFi protocols and decentralized exchanges transaction fees became very expensive and a series of Lay...
15 May 2021 1 minute read 2 comments FreedomBuilder
🏦 VAL is Already listed on the CoinMarketCap.https://coinmarketcap.com/fr/currencies/valkyrie-network/ 🎁 Total Reward:📌 Receive 4 VAL ≈ $7.5 for Simple Media tasks.📌 Get 0.1 VAL ≈ $0.20 for each Referral, Up to 60 referrals. 💎 Start Valkyrie N...
14 May 2021 4 minute read 37 comments ben06x
Tesla announced on May, 13th 2021 that Bitcoin mining is not environmentally friendly so that the company will no longer accept BTC for payment method: Source In this article, I am going to give you some numbers about Bitcoin electricity consumption...
13 May 2021 1 minute read 0 comments Greenchic
https://www.orionprotocol.io/ Liquidity Aggregator DEX, Orion Protocol will soon have pre-staking in it’s mainnet Decentralised staking is coming to the Orion Terminal that is a liquidity aggregator, a DEX having the combined liquidity of its partner...
12 May 2021 11 minute read 0 comments Richard Red
April’s highlights: Decred’s 6th consensus vote has passed with unanimous approval and high voter turnout. Politeia v1.0 is now live with more scalable and future-proof infrastructure. Politeia’s first proposal is being voted on to formalize the de...
11 May 2021 2 minute read 0 comments Nams
You usually cannot see a ninja coming, but this one is different. He’s coming, and he’s coming with goodies. Ladies and gentlemen, I present to you Ninja Swap. Ninja Swap is a decentralized exchange (DEX) platform on Binance Smart Chain (BSC). What e...
