The decentralized exchange #中心化与去中心化交易所 enables transactions through smart contracts, with user assets stored in personal wallets, offering high security, privacy protection, and the advantage of not needing to trust a third party. However, decentralized exchanges also face challenges such as lower liquidity, lack of regulation, and protection. Nevertheless, with technological innovations and the enhancement of compliance requirements, decentralized exchanges are gradually addressing these issues, providing investors with more choices and a better trading experience.