Decentralized exchanges are a type of cryptocurrency exchange which allows for direct peer-to-peer cryptocurrency transactions to take place online securely and without the need for an intermediary.

How does a Decentralised exchange work?

Decentralized exchanges take a different approach to buying and selling digital assets: They operate without an intermediary organization for clearing transactions, relying instead on self-executing smart contracts to facilitate trading. ... In the absence of intermediaries, DEXs take on a non-custodial framework.

Which is an example of a decentralized exchange?

A common example of a decentralized market is real estate, where buyers deal directly with sellers. A newer example is the virtual markets and blockchain system, which use cryptocurrency.