Binance Presents Its Decentralized Exchange Demo Version
August 10, 2018
About a year ago Binance joined the list of the largest newcomers among digital currency exchanges. And currently it is the major one in the industry.
Today Binance is developing its new decentralized platform Binance Chain (DEX) with the demo-version already available. Changpeng Zhao, crypto king of China, better known in the crypto community as CZ, is the head of the exchange. He described the main features the new platform has.
It is hard to tell so far when exactly Binance Chain will get publicly available. But a video presentation posted on the Binance head’s YouTube account demonstrating the new trade service has disclosed some key features.
“A first (rough, pre-alpha) demo of the Binance Decentralized Exchange (DEX), showing issuing, listing and trading of tokens. All cli based, no GUI yet. A small step for BinanceChain, a big step for Binance”.
Basically Zhao spoke on the process of withdrawing digital tokens, integration of new trade pairs and ordering. Digital currency of the exchange, Binance Coin, is meant to play important role for the further development of the platform.
The users will be able to add independent trade pairs. According to Zhao, further evolution of Binance and the new decentralized platform will be caused by the digital currency market.
He also clarified that they let the crypto market take decisions and he expects various exchanges co-existing in this environment in the nearest future.