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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.
27 Nov 2020 3 minute read 1 comment Clark Moody
Decentralization is taking on its mantle on the cryptocurrency market and is gradually ousting the last vestiges of centralization in the form of centralized exchanges. The continued growth in the prices of major cryptocurrencies on the market due to...
26 Nov 2020 1 minute read 2 comments FreedomBuilder
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26 Nov 2020 1 minute read 5 comments 1Inch Exchange
To offer an additional reward to our invaluable community, we are launching stage 2 of our liquidity mining program, in which an extra 1% of the 1INCH token supply will be distributed among liquidity providers. Following the launch of our liquidity m...
24 Nov 2020 1 minute read 0 comments ManuelAR
The Dex arena never gets boring. Uniswap’s supremacy in this sector has made it the undisputed champion. And there is no shortage of challengers vying for a shot at the title. Now, as Uniswap’s position is well established, they opted to cut the UNI...
23 Nov 2020 2 minute read 2 comments Thiago Capuano
Anyone who has been involved in the world of cryptography and technologies for a long time should remember the ShapeShift Instant Exchange, which performed the exchange of cryptography without custody. Directly Custody-free platform Decentralize...
22 Nov 2020 1 minute read 0 comments liorezal
New cryptocurrency exchanges are launched regularly. They compete with each other for the attention of active traders. As a result, service is continually being improved, and new functions are being introduced. The more quality exchanges there are, t...
21 Nov 2020 6 minute read 4 comments insidetrader
Although only 8 months have passed since the collapse of all markets in the world due to the COVID-19 uncertainty in March, all losses have been recovered. In fact, some assets not only recouped their losses, but rather made their investors profit. A...
19 Nov 2020 1 minute read 0 comments CryptoBrowser
Rivals Like SushiSwap Are Increasing Their Liquidity Mining Rewards, Resulting In A Tri-Fold Increase Of SushiSwap’s TVL One of the largest DeFi yield farming protocols, Uniswap, recently suffered from a drastic decrease in the amount of collateral...
17 Nov 2020 5 minute read 2 comments DrBreakThru
On March 31, 2020, Balancer (BAL) – a non-custodial Ethereum-based automated market maker (AMM) that functions as a self-balancing weighted portfolio manager, liquidity provider, and price sensor – was deployed on Ethereum mainnet. The Balancer proto...
16 Nov 2020 9 minute read 2 comments MuyAsk
Hey guys :) I’m back with another comprehensive Q&A piece, this time for the innovative on-chain options trading protocol on Ethereum – Hegic (HEGIC). Hegic is an exciting new DeFi protocol that enables you to trade on-chain options for profits or to...
