decentralized exchange

A decentralized exchange (DEX) is a platform for trading cryptocurrencies that operates without a central authority or middleman. Instead, transactions occur directly between users through computer networks using smart contracts, which automatically enforce rules and security. This setup enhances privacy, reduces reliance on a single entity, and can increase access for users worldwide. Unlike traditional exchanges, DEXs often require users to manage their own wallets and private keys, giving them more control over their assets. Overall, a DEX aims to provide a more open, transparent, and trustless environment for trading digital assets.