The architecture of CEXs relies on intermediaries who manage all aspects of the transaction process. This central body holds both the user's crypto assets and their private keys, enabling them to maintain a record of all transactions, manage user accounts, and control the platform's overall operation.
However, the centralized nature of these platforms can also manifest disadvantages. Prominent among these are vulnerabilities to cyberattacks and system failures due to the centralized storage of assets and keys. Also, they generally require extensive identity verification procedures, to be in compliance with local regulations.
Money that a government has declared to be legal tender.
An exchange which does not require users to deposit funds to start trading and does not hold the funds for ...
The ability to sell or buy any given asset without causing significant fluctuations in the market price for...