Decentralized Exchange vs. Centralized Exchange, What’s The difference?

Broker or smart contract Different from a centralized exchange(CEX), where a middleman such as a company, broker, or bank, is needed to carry out the transaction, DEXs rely solely on blockchain technology and its traders. Private database or blockchain CEX transactions are recorded in the company database and require proof of identification (ID). With one point of failure,e., open to human error or hacking, CEXs are considered less secure than DEXs. Moreover, DEXs do not require identification and record everything securely and in a trustle…