word

decentralized exchange

dee-SEN-truh-lyzd eks-CHAYNJ

diːˈsɛntrəlaɪzd ɪksˈtʃeɪndʒ

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Syllable breakdown

decentralizedexchange

Dictionary meaning

a cryptocurrency trading platform that operates via smart contracts on a blockchain without a central company holding user funds or matching orders; trades execute peer-to-peer according to algorithmic rules; major examples include Uniswap, Curve, and dYdX

Examples

The decentralized exchange processed 2 billion dollars in trading volume without a single centralised custodian.
Unlike centralised exchanges, a decentralized exchange cannot freeze your funds.

American English uses 'decentralized'; British English uses 'decentralised'; both spellings appear in global fintech usage

Synonyms: DEX, AMM exchange, on-chain exchange

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