What is a DEX (Decentralized Exchange) - Pros and cons of it
A DEX is a type of cryptocurrency exchange which allows for direct peer-to-peer trading. A simple way to understand DEX is often built on decentralized protocols and can be supported by decentralized technologies such as smart contracts and blockchain. After check What is a DEX, with Market247 research Pros and cons of DEX.
The advantage of DEX is the right to Control. You use CEX to give the exchange the power to keep your assets. When using the DEX, You hold the entire ownership of your assets.
The other advantage of it is anonymity. Users of centralized exchanges (CEX) must check identification before making withdrawals from the exchange. The user's identity can consequently be exposed. If you use DEX. it does not know who you are, the exchange only knows how many wallets you have.
Security is one of the advantages of DEX. In the cryptocurrency market, a lot of centralized exchanges have been compromised by hackers. For DEX, it is impossible for hackers to attack and take over users' assets. Because user assets reside on the Blockchain and are entirely secured by the nodes in the network.
You clearly know What is a DEX and the advantages of it, the disadvantages of DEX are: User experience is not good, Lack of liquidity, Transaction Latency. DEX still can't meet the smoothness like the way CEX centralized exchanges are doing. Because the orders executed on-chain on the Blockchain platform wait for the confirmation of the nodes, there is a delay in the execution of the transaction order.
#Market247
#What_is_a_DEX
#Decentralized Exchange
#DEX
Cre: https://market247.io/
See detail: https://market247.io/what-is-a-dex
A DEX is a type of cryptocurrency exchange which allows for direct peer-to-peer trading. A simple way to understand DEX is often built on decentralized protocols and can be supported by decentralized technologies such as smart contracts and blockchain. After check What is a DEX, with Market247 research Pros and cons of DEX.
The advantage of DEX is the right to Control. You use CEX to give the exchange the power to keep your assets. When using the DEX, You hold the entire ownership of your assets.
The other advantage of it is anonymity. Users of centralized exchanges (CEX) must check identification before making withdrawals from the exchange. The user's identity can consequently be exposed. If you use DEX. it does not know who you are, the exchange only knows how many wallets you have.
Security is one of the advantages of DEX. In the cryptocurrency market, a lot of centralized exchanges have been compromised by hackers. For DEX, it is impossible for hackers to attack and take over users' assets. Because user assets reside on the Blockchain and are entirely secured by the nodes in the network.
You clearly know What is a DEX and the advantages of it, the disadvantages of DEX are: User experience is not good, Lack of liquidity, Transaction Latency. DEX still can't meet the smoothness like the way CEX centralized exchanges are doing. Because the orders executed on-chain on the Blockchain platform wait for the confirmation of the nodes, there is a delay in the execution of the transaction order.
#Market247
#What_is_a_DEX
#Decentralized Exchange
#DEX
Cre: https://market247.io/
See detail: https://market247.io/what-is-a-dex
What is a DEX (Decentralized Exchange) - Pros and cons of it
A DEX is a type of cryptocurrency exchange which allows for direct peer-to-peer trading. A simple way to understand DEX is often built on decentralized protocols and can be supported by decentralized technologies such as smart contracts and blockchain. After check What is a DEX, with Market247 research Pros and cons of DEX.
The advantage of DEX is the right to Control. You use CEX to give the exchange the power to keep your assets. When using the DEX, You hold the entire ownership of your assets.
The other advantage of it is anonymity. Users of centralized exchanges (CEX) must check identification before making withdrawals from the exchange. The user's identity can consequently be exposed. If you use DEX. it does not know who you are, the exchange only knows how many wallets you have.
Security is one of the advantages of DEX. In the cryptocurrency market, a lot of centralized exchanges have been compromised by hackers. For DEX, it is impossible for hackers to attack and take over users' assets. Because user assets reside on the Blockchain and are entirely secured by the nodes in the network.
You clearly know What is a DEX and the advantages of it, the disadvantages of DEX are: User experience is not good, Lack of liquidity, Transaction Latency. DEX still can't meet the smoothness like the way CEX centralized exchanges are doing. Because the orders executed on-chain on the Blockchain platform wait for the confirmation of the nodes, there is a delay in the execution of the transaction order.
#Market247
#What_is_a_DEX
#Decentralized Exchange
#DEX
Cre: https://market247.io/
See detail: https://market247.io/what-is-a-dex
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