Instagram post shows off Binance chain option on Ledger Nano wallet
An Instagram post shows a Ledger Nano hardware wallet with Binance Chain option on the wallet’s display screen. This post is ahead of the Binance chain launch that is about to happen this year. The post said that the Binance DEX [Decentralized Exchange] is in active development. Binance DEX is set to launch in 2019.
A flurry of comments erupted on Instagram and the post was shared on Twitter. The comments indicate that the crypto community is waiting for Binance chain and Binance DEX.
— Chalexov (@CHalexov2016) January 5, 2019
Binance chain is the native blockchain of the world’s second-largest exchange. The blockchain is currently a work in progress and will be rolled out this year. Binance chain will serve as a platform for issuing cryptocurrencies backing various projects.
Binance DEX will be launched on the Binance chain. Binance DEX focuses on using decentralization to provide greater security. However, Binance holds a majority of their native cryptocurrency, Binance coin. Once the Binance DEX is online the coins will be switched over to the new mainnet. The DEX will only be semi decentralized.
Changpeng Zhao, the CEO of Binance said the DEX “makes it possible for your funds to be more SAFU than ever before”. Security of user’s crypto assets is the key focus of the new exchange. The exchange will allow users to have control of their private keys at all times. It will allow users to issue and exchange cryptocurrencies without depositing their assets on a central exchange.
Binance is driving mass adoption through Binance chain and Binance DEX. The company’s focus on decentralization and security has already charmed many investors to the popular exchange.
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