These are mechanisms that allow cryptocurrencies to be traded in a decentralized manner through the blockchain. In other words, in a computer network without a central authority, the protocols are used to fill the blockchains and validate transactions through their algorithms.
Or decentralized finance, is the way to trade crypto assets, which do not rely on central bodies or intermediaries such as brokerages, exchanges or banks. Decentralized finance platforms allow all kinds of financial operations to be carried out without the high commissions involved in centralized operations. In 2021, decentralized finance operations amounted to approximately 20.5 billion dollars.
A Cryptocurrency exchange is a platform that allows users to exchange or purchase cryptocurrencies or digital currencies for assets, ranging from credit cards, bank transfers, various digital currencies or cryptocurrencies for a transaction fee that is usually much lower than conventional banking.
These are wallets that allow users to maintain control and hold the private key to their funds in encrypted storage.
There are three types of non-custodied wallets:
Hardware wallets: They are similar to a pen drive disconnected from the internet.
Web wallets: Or mobile, they work from any device with a private access key.
Desktop wallet: They are installed inside the computer and can be stolen if the computer is lost.
Without the need to compromise usernames, email addresses or personal data a private key, is the access code to digital property on a blockchain. Each user has a public address and their private key is the access code to control their wallets or assets within the blockchain.
For the creation of a new cryptocurrency, the design of a smart contract is the technical foundation on which it is developed. These are automated programs that are executed at the closing of certain phases of a cryptocurrency, and that guarantee its fulfillment to buyers or investors.