This article explores decentralized exchanges (DEXs), their operation, benefits, challenges, and growing significance in the crypto ecosystem. Recently, decentralized exchanges, commonly known as DEXs, have emerged as a pivotal innovation. Unlike traditional centralized exchanges (CEXs), which rely on a central authority to facilitate trading, DEXs operate on a decentralized network, providing users with greater control, privacy, and transparency in their trading activities. But what exactly is DEX, and why has it become such an integral part of the crypto ecosystem? This article delves into the concept of decentralized exchanges, their working mechanisms, benefits, challenges, and their role in the future…
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