Definition ∞ A decentralized market is a trading environment where transactions occur directly between participants without the need for a central authority or intermediary. These markets operate on peer-to-peer networks, typically powered by blockchain technology. Price discovery and trade execution are governed by smart contracts and network consensus.
Context ∞ Decentralized markets, such as those found on decentralized exchanges (DEXs), represent a core innovation in digital assets, offering censorship resistance and enhanced transparency. The ongoing development of these markets focuses on improving liquidity, reducing transaction costs, and strengthening security against various exploits. Regulatory bodies are increasingly examining their operational frameworks.
Blockchain Knowledge
Cryptocurrency Foundation
Cryptospace Newsfeed
