DEX
Definition Decentralized Exchanges (DEXs) are trading platforms that operate without the need for a central authority or intermediaries. They facilitate peer-to-peer trading of cryptocurrencies, allowing users to retain control over their private keys and funds during the transaction. This aligns with the broader ethos of blockchain technology, promoting transparency, security and user autonomy. Components of DEX Smart Contracts: These self-executing contracts ensure that transactions occur only when predefined conditions are met, providing security and automation.