Exchange

The full name of the decentralized exchange is Decentralized Exchange, or DEX for short, which refers to exchanges built on open source blockchains, such as Uniswap, Pancakeswap, and so on. The traditional centralized exchange (CEX) is deployed on a private server, while the DEX is deployed on a public blockchain, requiring only one wallet to trade. Compared with CEX, DEX has the advantages of not requiring KYC, checking on the transaction information chain, and controlling assets by users. In addition, DEX fee income is generally allocated to market makers, which is completely different from CEX. Limited by the performance of the public chain, the transaction cost of some DEX is much higher than that of CEX, and there is still room for improvement.