Unlike centralized exchanges where hacking situations still occur, it is an exchange that allows users to directly trade without intermediaries. It is a long-established DeFi (Decentralized Finance) model that extends from Etherdelta or IDEX, which was the cradle of ICOs at the time of the 2017 ICO craze, to XX Swap (xxSWAP), which heated up 2020. In particular, UniSwap has grown so rapidly that it surpassed Coinbase, the largest virtual asset exchange in the U.S. by volume. The characteristics of decentralized exchanges that have appeared recently are that they all use an Automated Market Maker (AMM) based on a liquidity pool.
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DongWon KWAK. Korea Venture Capital and Startup Expert.