A DEX

A peer-to-peer marketplace known as a decentralized exchange (or DEX) is where cryptocurrency dealers do trades with one another. One of the main uses for cryptocurrencies, DEXs is to facilitate financial transactions without the involvement of banks, brokers, or other middlemen. The Ethereum blockchain powers many well-known DEXs, including Uniswap and Sushiwap.

A decentralized exchange, or DEX for short, is a peer-to-peer marketplace where cryptocurrency traders conduct transactions directly with one another. One of the fundamental uses of cryptocurrencies is the promotion of financial transactions without the involvement of banks, brokers, payment processors, or any other type of middleman.

The most well-known DEXs, such as Uniswap and Sushiswap, make a wide range of financial services accessible directly from a compatible crypto wallet by using the Ethereum blockchain. These tools are a part of the expanding family of decentralized finance (DeFi) tools. Decentralized exchanges (DEXs) are flourishing; in the first quarter of 2021, $217 billion worth of transactions passed via them. More than two million DeFi dealers were active as of April 2021, a ten-fold increase from May 2020.