2023.05.04
What Is a Decentralized Exchange (DEX)?
A DEX (short for decentralized exchange) is a direct marketplace where cryptocurrency traders can transact with each other without intermediaries like banks, brokers, or payment processors. DEXs embody one of the core principles of crypto, enabling financial transactions to occur without centralization. Popular DEXs, such as Uniswap and Sushiswap, utilize Ethereum blockchain and belong to the growing array of DeFi tools, which offer a wide range of financial services accessible directly from a compatible crypto wallet.