In most modern DEX, crypto-assets can only be exchanged within a single blockchain. Sometimes cryptoassets from different networks are added to DEX via crosschain bridges, but this complicates the trading process.
When did decentralized exchanges appear?
Initially, all cryptocurrency trading was centralized. The first decentralized exchange appeared in 2014 and was called NXT Asset Exchange.
What’s the difference between CEX and DEX
Binance, Coinbase, Huobi, Bitfinex, KuCoin operate similar to traditional stock exchanges. They have taken a ready-made algorithm that worked many years before crypto and transferred it to digital assets.
DEX Perspectives
A decentralized exchange (DEX, decentralized exchange) is a platform for exchanging digital assets that operates on the principle of decentralization – without a central management in the form of one person or group of people and without a central node or server.