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DECENTRALIZED EXCHANGE (DEX)

DECENTRALIZED EXCHANGE (DEX)

Challenges & OpportunitiesThere are more than 6198 cryptocurrencies (listed on CoinGecko) existing in the exchange ecosystem and every cryptocurrency is designed for different challenges to be solved. Bitcoin (the most expensive crypto globally as of October 2019 by Statista), being the first implementation, works purely as a store of assets. Ethereum works totally as a turing machine to write applications, Zcash has privacy as the pivotal role, and Cosmos has interoperable blockchain. Trading cryptocurrencies has always been a challenge and yet remains a hot topic and the highest total volume of buys or sells in the last 7 days as on 28th November 2019 is $10,761,867,974 on BKEX.By the end of November 2019, the value of cryptos has hyped globally to reach 203.35 billion USD. In order to proceed with a crypto trade, there are two types of exchanges centralized (CEX) and decentralized exchanges (DEX). Despite having liquidity and speed benefits, centralized exchanges are a bigger instrument of market manipulation. DEX is a ray of hope to solve market manipulation and custodial challenges. The chart below indicates the number of CEX (centralized) and DEX (decentralized) exchanges based on a study by TokenInsight:

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