A decentralized crypto exchange operates without a central authority, allowing peer-to-peer cryptocurrency trading through blockchain-based smart contracts. It removes intermediaries, ensuring transparency, security, and user control over funds. DEX platforms enable users to trade directly from their wallets, reducing counterparty risks associated with centralized systems. They rely on automated market makers (AMMs) and liquidity pools to execute trades efficiently. Built on blockchain networks like Ethereum, BNB Chain, and Solana, decentralized exchanges support cross-chain swaps and governance features. Their non-custodial architecture enhances security and privacy, while open-source protocols promote innovation and interoperability across diverse digital assets.