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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.
4 May 2021 2 minute read 2 comments Feedmypsyche
NinjaSwap is a dex that enables swapping, farming, and staking for BEP-20 tokens. its AMM follows the tradition of Uniswap. But it gets its speed and affordable transaction fee from Binance Smart Chain. Besides that, unlike other swap platforms, a li...
3 May 2021 1 minute read 0 comments Melusine
Hord is excited to announce its official Uniswap liquidity mining program, aptly named: HORD LP Staking Farm. The first round of the program rewards holders of Liquidity Provider tokens from the HORD-ETH liquidity pool on Uniswap with up to 1.500....
2 May 2021 2 minute read 2 comments Aerith
I’ve not been in crypto that long to know how it was before, but meme tokens are growing like crazy this year for sure. I’m not a 100% supporter of the trend, but I can relate to anyone who decided to buy a couple just for fun. You know, just so you...
2 May 2021 1 minute read 0 comments FreedomBuilder
🏦 FISH is Already listed on DEX FishSwap at the price of 1 FISH = 0.70$📌 DEX FishSwap: https://dex.fishswap.app/#/swap 🎁 Total Reward:📌 Receive 270 FISH ≈ $189 for Simple Media tasks.📌 Get 40 FISH ≈ $28 for each Referral. 💎 Start FishSwap Tel...
1 May 2021 1 minute read 2 comments Mandrakata
Technical Analysis https://www.tradingview.com/x/eToPZh1T/ Following my previous setup, we see prices that had breakout from accumulation zone in an uptrend.With last Close above short MA we could set a new target for $0.60 and later for $0.71 (both...
30 Apr 2021 2 minute read 2 comments Shiller Gorilla
Reef is delighted to welcome Kwikswap into its growing ecosystem, as it becomes the first project to build on the Reef Chain. Kwikswap is a prominent building block of Layer 2 DeFi with a lightning fast decentralised swap exchange protocol. Much lik...
29 Apr 2021 1 minute read 0 comments FreedomBuilder
👍 The Utility of FBTC 👍✅ 10x Leverage On-Chain Perpetual Contract.✅ Go Long or Short on Any Asset.✅ Lower Slippage than Other AMMs. 🎁 Total Reward:📌 Receive 2 FBTC ≈ $16 for Simple Media tasks.📌 Get 0.15 FBTC ≈ $1.2 for each Referral. 💎...
29 Apr 2021 1 minute read 0 comments FreedomBuilder
🎁 Total Reward:📌 $9,000 worth in HPS shared equally between all valid users.📌 $1,000 worth in HPS shared equally between top 10 referrers 💎 Start Billion Happiness Finance Telegram Airdrop Bot.https://t.me/JulSwapEventBot?start=hps_438066313 🔶...
28 Apr 2021 14 minute read 22 comments tigerbot4947
The modern age of cryptocurrency is one marred with no shortage of irony and confusion. As people rush in a mad-scramble to a newborn system of finance without fully comprehending its deeper intricacies, motivated by impressive growth and mass adopti...
28 Apr 2021 1 minute read 0 comments FreedomBuilder
🏦 Rabbit Tweeted by Big Project.☑️ Binance chain:https://twitter.com/BinanceChain/status/1386509222641242113☑️ Lbank: https://twitter.com/LBank_Exchange/status/1386705532719812613)☑️ BigONE: https://twitter.com/BigONEexchange/status/1386516902843805...
