The year 2023 was a significant year in the history of decentralized finance. A new milestone was achieved as prominent financial and non-financial institutions embraced digital currencies, setting the foundation for their mass adoption in the years ahead. As we approach the threshold of 2024, it is both wise and worthwhile to contemplate the path that the industry is poised to chart in the upcoming year.
Decentralized exchange, or DEX development, implies building a trading platform using smart contracts and decentralized order books. Smart contracts automate the order-matching and execution processes, while on-chain decentralized order books display all the buy/sell orders, allowing users to discover suitable trading partners. Blockchain technology facilitates direct, peer-to-peer transactions, eliminating the need for a middleman or central authority.