CEXs vs DEXs

3 min readMar 27, 2023

With the birth of cryptocurrencies, also known as digital currencies, and the spread of its first protocol, Bitcoin, the need to have platforms that would allow exchange among users arose. Just like with the traditional fiat coins.

History of crypto exchange

The first bitcoin exchange that emerged was BitcoinMarket, announced on Bitcointalk (a public forum where blockchain enthusiasts, developers and crypto investors host Bitcoin-related discussions) in 2010 and launched the same year.

Here is an article about the history of crypto exchanges.

It was the first of many. Over the years, the enthusiasm for cryptocurrencies has grown increasingly: projects, protocols, utility tokens and dedicated blockchains have been created, and therefore, the platforms where users can exchange their cryptocurrencies have also increased.

Originally, these exchange platforms were born under “crypto exchanges”. In conjunction with the birth and spread of DeFi, which best expresses the concept of decentralization on which protocols and cryptocurrencies are based, there was the need for a different label which would emphasize the centrality of a company or organization behind them.