What is a decentralized exchange (DEX)?
a) A central authority for trading digital assets
b) A peer-to-peer exchange that does not rely on a central authority
c) A type of wallet
d) A method of securing Bitcoin transactions
Answer:
b) A peer-to-peer exchange that does not rely on a central authority
Explanation:
A decentralized exchange (DEX) is a peer-to-peer exchange where trades are made directly between users without relying on a central authority.