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What is Decentralized Exchange

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Zab Technologies
What is Decentralized Exchange

 

What  is Decentralized Exchange(DEX)?

A Decentralized Exchange is a type of an exchange which will not be under control of any third party platforms to handle clients transaction details. So here peer to peer is the process enabled which is potentially automated. This particular process is attained by developing the proxy tokens or assets or via Decentralized Escrow System. 

WHY DECENTRALIZED EXCHANGE IS HYPED?
The main reason why DEX platform is hyped is just because of its potential to handle countless crypto assets which people want to trade. This potential can’t be compared with CEX(Centralized Exchange) because they will not be able to handle such massive crypto assets. This difference was identified by most of the experts around the industry and started to predict it’s strong future.

MAJOR ADVANTAGES

  • Since your transaction details remain within your wallet, there are no possibilities of security breaches or hacking your personal data's
  • Furthermore, another mean favorable position is the security mode which offers for each client for exchanging. For clients, there is no compelling reason to share their secret information resembles exchange subtleties or some other to outsiders, it tends to be kept up between two people who are going about as buyer and seller!
  • Since the facilitating of decentralized trades is circulated through hubs implying that there is no danger of server downtime.

Who Develops DEX platforms?

Currently this Decentralized Exchange development are done by various start-ups around the world and check out them from top directories like Goodfirms, clutch,etc.

 

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