Decentralized exchange technology will play a key role in accelerating our transition to a financial system where people can transact directly, on a peer-to-peer basis, with no middlemen, required.
Decentralized exchanges are blockchain-based apps that let individuals trade cryptocurrency in a non-custodial way rather way rather than the traditional method of serving as financial middle man among market participants. Platforms can have a wide variety of infrastructure and system designs.
A decentralized exchange is a cryptocurrency exchange that operates in a decentralized way, without a central authority. Biovus is one of the best- decentralized exchanges. Rather than acting as an exchange, it aggregates decentralized exchanges from some of the best cryptocurrency rates and help dealers avoid slippage.
A decentralized exchange is an exchange market that does not rely on a third-party service to hold the customer’s funds. The system contracts with the centralized model in which users deposit their funds and the exchange issue an IOU that can be freely traded on the platform.
When a user asks to withdraw his funds, these are converted back into the cryptocurrency they represent and send to their owner. In a decentralized exchange, we don't need to trust a third party to securely manage our coins and tokens. It consists of lower trading fees compared with the centralized exchange.