What is the purpose of a decentralized exchange (DEX) in the blockchain ecosystem?

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What is the purpose of a “decentralized exchange (DEX)” in the blockchain ecosystem?

Question: What is the purpose of a “decentralized exchange (DEX)” in the blockchain ecosystem?

Answer: To facilitate peer-to-peer trading without the need for a centralized authority.

Further reading

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What do we call financial services implemented on blockchain?

What do we call a system operated by individual participants?