The tidal surge of crypto and blockchain in today’s era revolutionized not just the payments system globally but also the Web3 business landscape. The recent emergence of the digital assets realm promptly gave rise to a myriad of decentralized platforms and products in the crypto sphere. Notably, with digital currencies gaining traction, the term DEX also emerged as a buzzword within the crypto/web3 realm. But what exactly is a DEX?
What Is A DEX?
A DEX, or a decentralized exchange, is a crypto exchange that functions entirely on a decentralized platform. This means that rather than relying entirely on a singular centralized authority, the exchanges use decentralized platforms for facilitating trading. Moreover, these exchanges leverage blockchain features such as smart contracts and AMM algorithms, enhancing the direct trading of crypto assets.
How Does A DEX Work?
The efficient functioning of DEXs is primarily attributed to its distinctive features. It functions by curating a smart
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