You’ve probably heard of crypto exchanges like Coinbase or Kraken, where investors buy and sell cryptocurrencies. These platforms are managed by companies recorded and managed by teams.
However, since the central philosophy of the blockchain revolves around decentralization and the distribution of power, a question arises: why not decentralize the exchanges of crypto?
Launched in 2018, Uniswap is the first decentralized cryptocurrency exchange, allowing users to deposit tokens in liquidity pools. Instead of traditional command books, Uniswap relies on algorithms to determine market prices according to supply and demand in these pools.
Uniswap also has its own cryptocurrency, UNI, which gives holders governance rights, allowing them to vote on the key decisions of the platform.
