Binance Releases Sneak Peek into Their DEX

Binance Releases Sneak Peek into Their DEX

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Binance's rapid expansion

Ever since its launch in the summer of 2017, cryptocurrency exchange Binance has been expanding rapidly and launched, among other things, a fund that invests in the blockchain technology space, a charity foundation, a research team and a cryptocurrency information hub.

Another one of Binance’s projects is Binance Chain, a blockchain platform that uses Binance’s BNB as its native token. Similarly to Ethereum, Binance Chain will allow users to issue their own tokens, although there aren’t many details about the platform available at the moment. 

Binance is building a decentralized cryptocurrency exchange for the Binance Chain platform, and the company has released a video giving us a sneak peek into what the exchange will offer, and also showcased a web wallet and a block explorer for Binance Chain.

The Binance DEX

The interface of the Binance DEX will probably feel familiar to users of centralized exchanges and Binance in particular. The exchange features a non-custodial design, which means that users retain full control of their funds at all times when using the exchange.

According to a recent Binance tweet, Binance Chain should be ready to go “in the coming months”.

The new updates about Binance Chain and the Binance DEX have had a positive impact on BNB, and the token is trading at $6.3 after gaining 15% in the last 24 hours. BNB is also creeping up in the cryptocurrency market cap rankings, as it is currently in 13th place, behind privacy coin XMR.

 

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