#CEXvsDEX101 In the world of cryptocurrencies, centralized and decentralized refers to how systems are managed and controlled. A centralized system relies on an entity or authority that manages operations, as platforms like Binance do. This offers greater control and support but entails trusting an intermediary. In contrast, a decentralized system operates without a central authority; transactions are validated through a distributed network of nodes, as is the case with Bitcoin or Ethereum. This promotes transparency and resistance to censorship, although it can be more complex to use and less efficient in certain cases.