‘Binance Chain’ will Go Live in 2019; Reveals Binance DEX Demo
In a Singapore event organized by Forbes Asia, the exchange introduced its own blockchain, the Binance Chain, which will be launched in the following months; showed a video demonstration of its Binance DEX.
Changpeng Zhao, widely known as CZ, spoke at the event (Decrypting Blockchain for Business) about how their very own blockchain can lead to an increase in worldwide adoption of the technology. Binance Chain will act as a foundation for the creation of new digital coins and tokens for ICOs: twitter.com
The Binance DEX
Binance DEX is the exchange’s decentralized cryptocurrency exchange. It was first mentioned by CZ when he tweeted that a public beta will be made by the end of this year or early next year. And the first demo was revealed last August: twitter.com
According to him, users will have the choice between a centralized or a decentralized exchange on the DEX.
Features of its Decentralized Exchange
‘User funds on the DEX will be secured with decentralized wallet application like Trust Wallet, which has a server-free infrastructure that stores private keys only on the user’s device…’
The exchange previewed the platform through a video demonstration where the interface, a decentralized crypto wallet, and a Binance Block Explorer was shown. Users can view balances, open orders, and trade and order history: youtube.com
In the Binance DEX, BNB tokens, an ERC-20 token, will be used as gas and user funds are not controlled by the exchange.
Image from flickr.com