Yes you are right. DEX is a kind of decentralized application.
The main feature of these apps is the lack of a single point of management.
Regulation happens automatically thanks to self-executing smart contracts.
If these conditions are met, then the exchange is truly decentralized.
DEX is an exchange that works on public blockchain.
It acts only as a platform for matching bids to buy or sell user assets without storing data about users and their funds.
User anonymity and the openness of smart contracts for auditing are one of the main features of DEX.
However, many modern exchanges that call themselves decentralized are not really such. Decentralized exchanges use a distributed ledger (blockchain) to store and process all (or almost all) data.
WINF.COM enables direct interaction between network participants, without intermediaries.
The main advantages of WINF.COM DEX include the following:
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- Transparency. WINF gaming platform is open to audits.
- Users themselves act as custodians of their assets.
- Privacy when betting ( gaming ) on WINF since there is no KYC required.
- DEXs are less susceptible to hacker attacks due to their decentralized nature.
- DEXs charge a lower fee than centralized exchanges.
So, answering your question, DEX is a dApp if it works on the basis of smart contracts, uses a public blockchain to store data and provides users with anonymity. Decentralized exchanges have a number of advantages for users over centralized ones.
Therefore, it is not surprising that more and more users are choosing WINF.COM DEXs.
Winf Blockchain Gaming:
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