Binance Will Bring A Decentralized Future That’s Powered By Digital Assets – Binance DEX, A Game Changer

Binance has already released its decentralized exchange DEX.

The company’s flagship exchange is a centralized one, as you already know by now.

Binance DEX to run on Binance Chain

Binance DEX doesn’t interact with centralized parties, and instead, it allows crypto traders to manage their very own private keys.

This week, it was annocuend that the decentralized exchange will be running on Binance’s native blockchain Binance Chain.

Building a decentralized future

Binance CEO, Changpeng Zhao said that the new exchange fulfils the company’s mission which revolves around building a decentrazlied future and an open global financial system that’s powered by crypto and the blockchain.

“With no central custody of funds, Binance DEX offers far more control over your own assets. We hope this brings a new level of freedom to our community. We will work closely with projects and teams to grow the entire ecosystem,” CZ said.

After the Binance Chain mainnet was launched, the Binance Coin BNB became the native asset on Binance Chain. It moved from the Etehnreum blockchain.

CZ explained not too long ago that Binance Chain is not an Ethereum killer.

In a token swap that took place a few days ago, five million ERC20 BNB have been burned as a part of the conversion process.

BNB is used for network transactions. During the Binance DEX testnet phase, it’s important to note that almost 8.5 million transactions were made across a simulated trading competition, coding competition, and bug bounty program.

Actual trading is not set yet

The Daily Hodl reports that after the public launch of Binance DEX, users are able to create accounts, access web wallets, and the blockchain explorer.

On the other hand, an actual trading date has to be set and made public.

The official announcement said that “Users now have access to the Binance Chain Explorer, web wallet, public data nodes, and APIs, and trading will begin at a later date.”

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of CriptomonedaseICO , and should not be attributed to, CriptomonedaseICO .

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