Lesson 6: Know about Decentralized Exchange (DEX)

Why does this lesson matter?

DEX (Decentralized EXchange) is slowly emerging as the cryptocurrency exchange of the future. Let's deepen our understanding of the world of cryptocurrency and blockchain by learning about the future of exchanges, which have been the best example of cryptocurrency business.

What you can learn in this lesson

  • About DEX
  • Difference between CEX and DEX

Is it true that there are exchanges managed by the blockchain?

As a new form of cryptocurrency exchange, a service called DEX (Decentralized EXchange) is emerging.

The cryptocurrency exchanges we have been learning about so far are managed by some company, but there is no manager in DEX.

DEX is powered solely by the blockchain.


Check your achievement

Click the “Tick” button
if you understand the lesson so far.

Let's understand the difference between CEX and DEX

A decentralized exchange is called a DEX, while a traditional exchange with an administrator is called a CEX (Centralized EXchange).

The main difference is whether there is an administrator or not.


Since DEX does not have an administrator, it does not have inconveniences such as unavailability during holidays or maintenance periods like CEX.

Since KYC is not required when using DEX, discussions are underway in various countries, including FATF, on how to deal with AML/CFT.


Check your achievement

Click the “Tick” button
if you understand the lesson so far.

0%

You haven’t finished all the lessons. Make sure to complete them before taking a quiz!

You can start a quiz by clicking the button below.