Key Characteristics of Decentralization Exchange In Cryptocurrency
Decentralized exchange (DEX) in the context of cryptocurrency refers to a type of trading platform that operates without a central authority or intermediary. Traditional exchanges, such as those in the stock market, are centralized and rely on a central authority to facilitate trading and manage user funds. In contrast, decentralized exchanges operate on blockchain technology and smart contracts to enable peer-to-peer trading of digital assets directly between users.