About 70 days thereafter (specifically on the 9th of January 2009), the Blockchain released the first digital cryptocurrency called Bitcoin through a process known as digital mining.

Soon, market activities developed around Bitcoin and other cryptocurrencies that were later created. One such important market activity was the development of trading platforms.

This first set of trading platforms consists of exchanges that were built and controlled by their developers. They function more like traditional trading platforms with an Order Book System, which records the buy and sell orders, and then uses a matching engine to determine which orders can be fully or partially executed.

These trading platforms collectively form Centralized Exchanges (Cex). More than 75% of cryptocurrency trading still takes place on these Cex.

Basically, there are two kinds of Centralized Exchanges:

(1). Spot Cex

(2) Derivatives Cex

EdaFace Cex Reflector is where the centralized exchanges are listed.