The Decentralized Cryptocurrency Exchange does not develop by a single center whose example is Bitcoin. In another word, we can say that it is a permissionless based that don’t need any authority or approval in the trading matter. Furthermore, the Centralized cryptocurrency is managed and developed by one company, whose example is One coin. Along with, it is a simply a farce.
Thought About the Cryptocurrency Exchange
The Cryptocurrency exchange is the online currency exchange platform which is using at present time much time in cryptocurrency exchange development. In this platform, you can easily exchange your currency or fiat currency that is look like a currency exchange and stock exchange. In the cryptocurrency exchange, the platform faces two type of currency one DEX which is known as a “Decentralized Exchange” and second is CEX which is known as a “Centralized Exchange”. Here, we define the difference between DEX and CEX.
What is DEX
The DEX is known as a “Decentralized Exchange” which exchanges the coin and currency without any intermediaries. In the Decentralized exchange, the user interacts with each other to exchange purpose, buy & sell purpose, transaction purpose. Alternatively, we can say that it is based on blockchain network development. We provide you some DEX currency name:
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- Kyber Network
- Bancor Protocol
- Omega One
The blockchain development of DEX is recorded every transaction in public ledger, Also it doesn’t have to access the cryptocurrency trader or investor assets. The major thing in that the decentralized exchange is security that’s why we provide you the benefit of Decentralized Exchange.
- Always Running
- Anonymous developer
- Use by the user
What Is CEX
CEX is known as a “Centralized Exchange” service. That is generated by the secure authority it means it based on one company. So, we can say that this exchange service provides the good effect in the crypto market that also provides the much-needed services. We are providing some CEX platform or currency here :
In the CEX the currency exchange by the mediator or third party. For example, the Paytm, PayPal, PayUmoney, CCavenue etc. depends on bank authority which id provide you full security and transaction record by governance bank based. Here we provide you some resources of CEX.
- User interface
- Administrative part
- Trading engine and matching engines
Major Difference between CEX and DEX
- The CEX (centralized currency exchange) use the trader or conduct the investor by the fiat currency but the DEX is opposite to CEX in investing the money of trading the cryptocurrency exchange
- DEX is an alternative currency exchange platform which is transacted directly by the user but the CEX Is based on mediator or third party based.
- DEX is come on at present time widespread level comparison to centralized currency