An Order Book DEX (Decentralized Exchange) is a trading platform that relies on an order book system to facilitate buy and sell orders for cryptocurrencies. Unlike automated market makers that use liquidity pools, Order Book DEXs allow users to place specific orders at desired prices, which are then matched with other users’ orders.Users can view the order book, which lists all pending buy and sell orders, providing transparency about market activity. Traders have more control over their trades since they can specify price points rather than accepting the current market price.These exchanges enhance security as they don’t require users to deposit funds into the platform, minimizing the risks associated with centralized exchanges. Users retain control of their private keys and can trade directly from their wallets.However, Order Book DEXs may face challenges like lower liquidity compared to centralized exchanges and slower transaction speeds, depending on the underlying blockchain network. Overall, they appeal to those seeking greater control and transparency in their trading activities.