Binance DEX dev team presents new DEX teaser
Binance has given a sneak peek to their new decentralized crypto trading desk. The demo video presented by the DEX’s development team showcases the trading terminal and the new user interface conducting transactions. The video shows how to register a new account and open a new cryptocurrency wallet.
The video also contained a preview of Binance Chain, the native blockchain of the crypto exchange. The Block explorer enables a user to search for an individual block by block height. Also, it lets you search for a transaction, address and order ID. The dev team told that they will be launching a testnet for the web wallet and the blockchain explorer.
Binance, in March, introduced the project under the name of Dexathon. However, it seems that the exchange renamed it as Binance Chain. Binance Chain will enable developers to launch their blockchain projects. The native blockchain will also enable ICOs and let users raise funds in BNB, like Ethereum blockchain.
Zhao indicated that the new plans are a reflection of the traditional version of cryptocurrency and the tokenization process, which can increase the rates of global adoption. “We are launching Binancechain very soon, in a couple months or so, and you will be able to issue tokens on that. I think there will be millions of coins and thousands of blockchains,” said the Changpeng Zhao, the CEO of Binance.
The new DEX boasts decentralized custody of funds, low latency and high throughput trading. Since the projects can conduct ICOs and raise funds in BNB, the DEX will have access to liquidity. Binance also indicated that DEX will be a community project even though they charge a small trading fee for every trade.
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