You’ve in all probability heard of crypto exchanges like Coinbase or Kraken, the place buyers purchase and promote cryptocurrencies. These platforms are run by registered firms and managed by groups.
Nonetheless, since blockchain’s core philosophy revolves round decentralization and the distribution of energy, a query arises: why not decentralize crypto exchanges, too?
Launched in 2018, Uniswap is the primary decentralized cryptocurrency change, permitting customers to deposit tokens into liquidity swimming pools. As a substitute of conventional order books, Uniswap depends on algorithms to decide market costs based mostly on provide and demand inside these swimming pools.
Uniswap additionally has its personal cryptocurrency, UNI, which provides holders governance rights, permitting them to vote on key platform choices.
