[DEX] What is the decentralized exchange?
This is IONIA :)
Today, the main exchange is to sell cryptographic money.
To buy Bitcoin
Or to sell it.
You have to think of the cryptocurrency as an asset, and you have to use the exchange to make a deal.
Exchange has the most important role in the current crypto market
There are many kinds of exchanges like this!
It’s typically divided into two.
CEX vs DEX
CEX : centralized Exchange
Typically, there is a bitthumb / Upbit / coinone / binance / polonix.
DEX : Decentralized Exchange
There are usually IDEX, Bancor, Kaiver, and Comodo.
The traditional exchange (CEX) keeps all of its crypto assets in its wallet. And it’s not that they’re actually transferred from the user’s wallet, it’s just the data. Many users are using CEX-type exchanges because they are fast and flexible.
So why not CEX, but DEX?
Traditional exchanges are managed and stored through a centralized server.
These systems and structures end up being targeted by hackers!
In fact, you can see a frequent exchange hacking attack!!!
A new form of solving these problems is the DEX.
The decentralized exchange, DEX, allows individual transactions without a third party intervention, and ensures that all crypto assets are kept by individuals.
Since the exchange does not store the crypto asset and does not operate the central server, it has the great advantage of being safe from hacking!!
So we’re using the block chain to make this deal through smart contact.That’s why you can make personal transactions without a trusted broker. The unfortunate part of CEX is the advantage of DEX.
1. Hacking into the exchange is difficult
= My assets are safe.
2.The actual assets are transferred to my personal wallet.
= I have control over my assets.
Decentralized/distributed exchanges that go beyond traditional exchanges and have the notion of blockchain continue to emerge.
So, the more inconveniences are being improved, and the more important is DEX’s role in the future.
You can also meet these DEXs on the Ionia project.
And DEX still has structural problems/limits (discussed later).
Ionia is also looking for new ways to solve and solve many of these problems and limitations!!
I’ll keep you updated.
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