Blockchain 101: What's a DEX?
Consider this: There will always be multiple blockchain networks. There won’t be one big winner someday. Different networks have different utilities, different applications, different sets of investors and users, and different values that rise and fall. Just like we need to transact between other countries and fiat currencies, there will always be a need to move value between blockchain networks. These transactions take place on an exchange.
Today, most of these types of transactions take place on CENTRALIZED exchanges. Coinbase, Binance, and Crypto.com are a few examples of popular exchanges. A centralized exchange is a bit like a traditional bank: it’s a company offering a service. In exchange for that service, they set the policies and fees that you must…