Photo by Austin Distel on UnsplashThe first crypto exchanges appeared a little over ten years ago, and their number is increasing each month. CoinGecko registered more than four hundred crypto exchanges (362 for spot trading, 57 for DEX, 42 for derivatives); meanwhile, Cryptowisser listed over 570 crypto exchanges on their website. According to statistics from Nomics, in September 2020 the total trading volume of crypto exchanges was over $80 billion. Dune Analytics shows that DEXs\u2019 trading volume increased by 83.5 times year-on-year between 2019 ($281 million) and 2020 ($23.5 billion). With the widespread adoption of smart contracts and the development of decentralized finance (DeFi) in the past few years, decentralized exchanges (DEXs) became a significant trend in the crypto industry. Nowadays, Github lists more than two hundred DEXs and their protocols of original architecture; around one hundred of them are used for testing or deployed to mainnet. Following the DEX movement, many CEXs have also been developing their own DEX applications to enhance their potential by effectively using the advantages of decentralized trading models.In this article, we will consider several DEX models that are currently available or being in the final stages of development.Above all, before turning to DEXs, we will identify the key features of centralized exchanges (CEXs).Centralized ExchangeA centralized crypto exchange is an online platform (to buy and sell crypto assets and their derivatives on demand) that is run on centralized servers, managed, and fully controlled by a specific entity.A CEX is a middleman facilitating the trading process. For trading purposes, users deposit their cryptocurrencies and tokens to the CEX. The CEX becomes a custodian of their users\u2019 crypto assets: it consolidates their deposited assets into a few high-value wallets and holds the private keys to these assets for users. At the same time, the CEX issues IOUs\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Photo by Austin Distel on UnsplashThe first crypto exchanges appeared a little over ten years ago, and their number is increasing each month. CoinGecko registered more [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2473"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=2473"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media\/2474"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=2473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=2473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=2473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}