What is a DEX Platform?
A Decentralized Exchange (DEX) platform is a type of cryptocurrency trading platform which runs on blockchain technology, allowing users to trade digital assets directly with one another in a peer-to-peer environment. Unlike traditional centralized exchanges (CEX), the order books and transaction histories are stored on decentralized networks, eliminating the need for any third parties or intermediaries. This provides users with greater control over their data security and privacy as well as improved liquidity due to lower fees associated with these platforms. A DEX also removes single points of failure that plague CEXs by providing better system resilience; if one node goes down, it will not take down the entire network. Additionally, since all transactions occur on chain there is an immutable record of each trade that can be verified independently at any time.
