What Is The Meaning Of DEX?

Questions People Also AsksCategory: CryptoWhat Is The Meaning Of DEX?
Doctor Haidar Staff asked 2 months ago
Hi, Can Someone Explain What DEX Means In Cryptocurrency?
1 Answers
Doctor Haidar Staff answered 2 months ago
DEX Stands For Decentralized Exchange. It Is A Platform Where Users Can Trade Cryptocurrencies Directly With One Another Without Relying On A Central Authority Or Middleman. In Other Words, Trades Happen Peer-To-Peer, And Everything Is Managed By Smart Contracts On The Blockchain. This Makes DEX More Transparent, Secure, And Gives Users Full Control Over Their Funds.   Example: Uniswap Is A Well-Known Decentralized Exchange (DEX) On The Ethereum Network. Instead Of Going Through A Traditional Centralized Exchange, Users Connect Their Wallets, Trade Assets Directly, And Use Smart Contracts To Ensure The Transactions Are Valid And Trustworthy.