Binance announced the launch of DEX Binance Chain
?CEO capturedimages platform Binance Changpeng Zhao has announced the launch of a decentralized platform for cryptocurrency exchange (DEX) Binance Chain.
The statement can be seen in his Twitter:
Currently developed only a demo version of decentralized exchange, so even the representative of the Binance assures the users not to inflate their expectations.
Zhao has not announced the launch date of the DEX, so it is impossible to say when the market will start and what is the volume of transactions it can process.
Binance have long felt an acute need to introduce DEX. She announced the work on the draft in March, and the beginning of this month Binance bought a decentralized Wallet purse Trust, support, and live cryptocurrency based on it. It is expected that in the future decentralized and centralized platform Binance will coexist, and then DEX will replace its predecessor.
Cryptomnesia have been waiting for the launch of the DEX, as such exchanges have several advantages:
?They are more reliable, since the bidders don’t have to keep their funds on the exchange as a Deposit, that is, their will not be stolen in the hacker attack.
?Since the exchange is decentralized, the absence of intermediaries saves time and money of its users – traders do not pay Commission and operations are implemented without the inclusion of a third party.
The news visibly shook cryptologist, as on date, there is still no fully decentralized crypto currency exchange, although the need is definitely there. The problem can be felt at least after listening to statements Vitalik Buterin about centralized exchanges, which is only a straight road to hell.