Decentralized Exchange

DEXs allow crypto investors to hold their keys while trading by using liquidity solutions from order books to liquidity pools - and more.

DEXs facilitate peer-to-peer trading by relying on automated smart contracts to execute trades without an intermediary. However, not all DEXs employ the same underlying infrastructure.
While some retain conventional order book models, others use emergent liquidity protocols. In addition to exchange and liquidity protocols, developers are building new aggregation tools to address the disjointed liquidity that's inherent in decentralized exchanges.
A smart contract is self-executing code that carries out a set of instructions, which are then verified on the blockchain.
These contracts are trustless, autonomous, decentralized, and transparent; they are irreversible and unmodifiable once deployed.
Quite popular in decentralized finance (DeFi), they have several other use cases.
Smart contracts can be bundled into decentralized applications (dApps) to execute more complex functions.