Binance offers the first glimpse of the planned decentralized encrypted exchange

Cryptocurrency exchange Binance unveiled the first glimpse of the platform on its next decentralized exchange (DEX) on Thursday.

Binance, one of the world's largest cryptocurrency exchanges by volume of trade, announced in March that it intends to launch a new blockchain audience for the development of the Binance Chain, a platform for the transfer and trade of various cryptographic resources without a centralized operator. This week, Chief Executive Changpeng Zhao provided the first demonstration of the decentralized exchange of Binance and the Binance chain.

"Today I have something really exciting to share with you." This will be the first demo for Binance's decentralized exchange, Binha Chain, "Zhao told viewers.

Zhao explained that his team of developers is ahead of its time, saying in the demonstration that "I thought this would happen one or two months later, but again, the team delivered early."

While most of the demo is a footage of a command line terminal voiced by one of the Binance chain developers, the various activities illustrated describe the basics of issuing, listing, and trading cryptographic resources on the decentralized exchange.

Zhao insists that the product remains in "early stage development", adding that:

"There is still a lot of work to do to turn [it] into a final product, the team is working on of it in a very aggressive manner, an important milestone for Binance Chain. "

In fact, other competitors of Binance such as the exchange of cryptocurrencies Huobi have announced similar plans in June to finance the creation of an open source blockchain protocol destined to become one day in an autonomous decentralized exchange. [19659002] While there are decentralized exchanges currently existing in the encrypted markets, the data of the analysis company Alethio report that most have incorporated different degrees of centralization in their model. [19659002] Indeed, the sentiment surrounding the security of decentralized exchanges as a whole has been successful with a decentralized encrypted exchange under the name Waves that the funds were breached almost immediately after launching from a one-year-long beta. half period

Image of Changpeng Zhao through YouTube


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