Decentralized Exchange (DEX) vs. Centralized Exchange (CEX) What is 1inch?
1inch is a decentralized exchange aggregator that sources liquidity among various exchanges and is capable of splitting a single trade transaction across multiple DEX’s.
Smart contract technology empowers this aggregator to enable users to optimize and customize their trades.
How is a decentralized exchange (DEX) different from a centralized exchange (CEX)?
Unlike CEXes, no central authority or third party is involved in the operation of a DEX. As a result, the user retains full control of their funds stored or traded on DEXes, which offers a higher degree of security than CEXes. While CEXes are believed to be faster and offer generally better user experience than DEXes, the latter have recently shown significant improvement in this area.
What you as a trader do need to know about 1inch future potential:
1inch is the leading DEX aggregator when it comes to quickness and providing good fees on the ethereum network. This project is currently sitting around 700mil mcap and is expected to be a worth 7 billion working project. You can do the math.
technical wise:
1inch did a bullish breakout on the daily bar chart recently and is currently in retest mode. Since I am very bullish on altcoins and DeFi, I wouldn’t be surprised to see 1inch leading DeFi round 2.
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Cheers!
