STON.fi Blog

This post describes the key differences between the decentralized and centralized exchanges (DEXs and CEXs) briefly and in little detail. A few examples of CEXs are Binance, FTX, Coinbase, and Kraken. A few examples of DEXs are Uniswap, dYdX, and PancakeSwap. For the full lists, see coinmarketcap.com: DEXs, CEXs. DEXs versus CEXs: • Faster to operate as there is no need to register and no need to replenish the deposit beforehand. • As a rule, total fees are lower, since you don’t need to replenish the deposit and then withdraw funds from it to put them in the wallet. • Since there is no intermediary organization, there is no on

DEX stands for ‘decentralized exchange,’ where users can trade and exchange cryptoassets (coins and tokens) directly, with no intermediaries such as the exchange itself or a broker. Users don’t have to keep their cryptoassets at the exchange unless they want to. The blockchain fulfills the role of the intermediary and guarantor of the deal’s completion on a DEX. In fact, a DEX is a marketplace where any person with access to the Internet can trade. And there is no need to generate accounts or obtain permission from the exchange. Technically speaking, a DEX is a set of smart contracts, or software which, when specified conditions occur (for