Decentralized exchanges (DEXs) are a type of cryptocurrency exchange that operate on a decentralized blockchain network. They differ from traditional centralized exchanges in that they allow users to trade cryptocurrencies directly with each other, without the need for an intermediary. This eliminates the need for a centralized authority or middleman, such as a bank, to oversee and manage transactions. The concept of a decentralized exchange was first introduced in 2013 with the launch of the...