Question
What do we call a cryptocurrency exchange implemented on a blockchain?
Options
A. BOX
B. DOCX
C. CEX
D. DEX
Correct Answer: Dex.
Explanation
- BOX and DOCX: These are file format extensions and not related to cryptocurrency exchanges on a blockchain.
- CEX: This stands for “Centralized Exchange,” where a third party, like a company, facilitates cryptocurrency trading. This is not specifically related to a blockchain implementation.
- DEX: This stands for “Decentralized Exchange,” which is a cryptocurrency exchange implemented on a blockchain. In a DEX, users trade directly with each other without the need for an intermediary. Therefore, the correct answer is D. DEX.
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