Before learning about decentralized exchanges (DEX), you must first understand
centralized exchanges (CEX), the current mainstream in cryptocurrency markets.
CEX are cryptocurrency exchanges modeled on traditional securities exchanges,
and they require users to temporarily store their assets for handling by the
operators. The transactions are also handled by the operators' servers and do
not use blockchain. Blockchain is only used for the deposit and withdrawal of
large sums of money.
In comparison, DEX refers to exchanges which do not require user asset
handling by operators, allowing individual users to each manage their own
assets, and in which all transactions are carried out on the blockchain so there is
always a record.