decentralized exchanges (DEX)

Decentralized exchanges (DEXs) are platforms that allow users to trade cryptocurrencies directly with each other without a central authority or middleman. Unlike traditional exchanges, DEXs operate on blockchain technology, using smart contracts to facilitate secure, peer-to-peer transactions. This setup provides users more privacy, control over their funds, and reduces the risk of centralized points of failure or hacking. DEXs are often accessible via web interfaces and enable trading of various tokens without requiring users to deposit funds into a third-party account, promoting a more democratic and transparent trading environment.